If the interest rate is too high, the parties may bring a lawsuit, and the borrower may not repay the interest exceeding the amount stipulated by law. The interest rate stipulated by law shall not exceed four times the quoted interest rate in the one-year loan market.

Article 26 of the Interpretation of the Supreme Court on Applicable Laws in the Trial of Private Lending Cases points out that if the interest rate agreed by both lenders and borrowers does not exceed 24% per annum, and the lender requests the borrower to pay interest at the agreed interest rate, the people should 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. If the borrower requests the lender to return the interest paid in excess of 36% of the annual interest rate, the people will support it.

If the interest rate of private lending is high, it can be decided by the people according to law. If the agreed interest rate is too high, it will be determined whether the interest is protected by law in strict accordance with the provisions of judicial interpretation.

I can't afford to borrow it online, and the interest is too high. What should I do?

Only the principal can be repaid, and both parties can conduct civil mediation. Because it belongs to private lending, the interest cannot exceed the interest stipulated by law, but it often exceeds the standard stipulated by law and can be settled through mediation between the two parties.

According to the contract law:

Article 211 If the loan contract between natural persons does not stipulate or clearly stipulate the payment of interest, it shall be deemed that no interest is paid.

If the loan contract between natural persons stipulates the payment of interest, the loan interest rate shall not violate the relevant provisions of the state that limit the loan interest rate.

Operation mode:

It refers to the money houses in the form of distribution, which are generally run by gangs and often make rich profits. When the debtor can't pay back the money on time, people usually threaten the debtor, even his family and friends, so that they can pay back the money.

Extended data:

Since the implementation of the Provisions of the Supreme People's Government on Several Issues Concerning the Applicable Law in the Trial of Private Lending Cases on September 20 15, the standard is no longer whether the annual interest rate exceeds 24%, but whether it exceeds 36%, that is to say, the annual interest rate does not exceed 36%.

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 by the borrower and the borrower does not exceed 24% per annum, and the lender requests the borrower to pay interest at the agreed interest rate, the people 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. If the borrower requests the lender to return the interest paid in excess of 36% of the annual interest rate, the people will support it.