For example, Gitzo loan 10000, the interest generated in one month is10000 * 0.058% * 30+10000 * 0.78%+10000 *1.58%. This does not include service charge and customer service charge.
Private lending is a civil act, which is bound and protected by civil law and contract law.
However, according to Article 211 of the Contract Law: "If the loan contract between natural persons stipulates to pay interest, the loan interest rate shall not violate the relevant provisions of the state on limiting the loan interest rate".
According to the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, if the annual interest rate agreed by both parties does not exceed 24%, the lender has the right to require the borrower to pay interest at the agreed interest rate. However, if the interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, the interest exceeding the annual interest rate of 36% shall be deemed invalid.
Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases
Article 26 If the interest rate agreed between the borrower and the lender 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.
The so-called loan company will not wait for you to sue him. If you don't understand when you borrow money, it's a dumb loss.