According to the Supreme Law "Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases" (also implemented by financial institutions), the determination that the annual loan interest exceeds 36% is invalid and will not be supported and protected. These lending platforms therefore set the loan interest rate at a crucial 36%.
However, according to the above provisions, the interest rate absolutely protected by law is 24%, and the interest rate between 24% and 36% is determined by both parties through consultation. So for the borrower, the real interest rate that only needs to be repaid is 24%. In other words, the borrower only needs to pay back 1034 yuan at most every month, that is, the total interest only needs to pay back 4800 yuan. If the loan platform passes legal proceedings, it will not win the lawsuit.
So you can ask the customer service of the platform to repay at an annual interest rate of 24%. If it doesn't agree, don't return it until it takes the initiative to find you. Those late fees and penalty interest are included within 24%, but remember to keep the evidence of negotiation with them. If it is a malicious collection, you should also keep good evidence and complain directly to the mutual fund office or the CBRC.
The annualized interest rate after integration shall not exceed 24%, and the highest annualized interest rate agreed by both parties shall not exceed 36%.
There is no repayment time setting, which can be said to be absolutely reasonable.
high interest
Interest is very high, it is not recommended to borrow! Think in the most earthy way. After spending this money, the interest generated is more than 290 per month. At first glance, it is very small. In fact, it will exceed 1 minute! So if you can't borrow it, don't borrow it. If you have to borrow it, find other channels!
unreasonable
expensive
It's too expensive
It's purely anti-aircraft guns. Don't touch this kind of loan, which will harm others and yourself.
Don't borrow it if you think it's unreasonable!