If the loan is 84,000 yuan, the annual interest rate of the loan is about 1 1.75%, which is within the interest rate range supported by the state (24%).
The subject encountered "beheading". It is not recommended to stop repayment directly, which will affect personal credit records (big data). It is suggested to negotiate with the platform to reduce the cost or consult a lawyer.
The terms of reference are as follows:
The Supreme People's Court's "Provisions on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases" stipulates in Article 26:
If the interest rate agreed between the borrower and the borrower does not exceed the annual interest rate of 24%, and the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it.
The interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, and the interest agreement in excess is invalid. The people's court shall support the borrower's request to the lender to return the part of the interest paid that exceeds 36% per annum.