According to the data released by the state, there are now more than 60 million people executed in China for breaking promises. In order to reduce the bad debt rate of financial institutions and the number of old borrowers, the state is increasingly monitoring the loan interest rate in the credit market. What is the highest interest on bank loans? As long as it doesn't exceed this number!
What is the highest interest on bank loans?
According to the regulations, the upper limit of judicial protection of private lending rate is determined by four times the one-year loan market quotation (LPR) issued by the National Interbank Funding Center authorized by the People's Bank of China on the 20th of each month. In other words, the highest interest on bank loans is 24%.
When any financial institution issues loans, the loan interest rate cannot exceed 24% of the lpr interest rate. If it exceeds 24% but does not exceed 36%, although it is not illegal, the borrower can choose not to pay the excess interest, and it is necessary for the borrower to negotiate with the lender for repayment.
If the loan interest rate of a financial institution exceeds 36% of the lpr interest rate, and the excess is not protected by law, the borrower may refuse to pay. If the borrower has paid a certain amount of interest before, he can ask the lending institution to return it, and the people also give support.
Of course, in 20021year, the loan interest rates of major financial institutions have been greatly reduced. Taking the quoted interest rate of one-year loan market announced on July 20th, 20021as an example, the upper limit of judicial protection of private lending interest rate is greatly reduced compared with the past 24% and 36%.
I suggest you don't rush to borrow money before applying for a loan. You can read the details about "interest rate" in the contract in detail. If the borrower finds that the loan interest rate of the loan platform exceeds the national regulations, it is suggested to give up the loan application immediately.
The above is the sharing of "what is the highest interest rate for bank loans?" I hope it will help everyone!
Does the state stipulate the highest interest rate for bank loans?
There is no upper limit for the interest rate ceiling released by the state, that is, there is no upper limit for the bank loan interest rate, so there is no upper limit for the loan interest. However, the loan interest rates of urban credit cooperatives and rural credit cooperatives are still subject to the upper limit management, and the maximum floating coefficient is 2.3 times of the benchmark loan interest rate, and the downward fluctuation of the loan interest rate remains unchanged.
According to Article 2 of the Notice on Adjusting Deposit and Loan Interest Rates of Financial Institutions, the floating range of loan interest rates of financial institutions is relaxed, allowing deposit interest rates to float downwards.
1. The loan interest rate of financial institutions (except urban and rural credit cooperatives) is no longer capped. Commercial bank loans and loans managed by policy banks according to commercialization are no longer subject to upper limit management, and the downward fluctuation of loan interest rates remains unchanged. The loan interest rates of urban credit cooperatives and rural credit cooperatives are still subject to upper limit management, with the highest floating coefficient being 2.3 times of the benchmark loan interest rate, and the downward fluctuation of the loan interest rate remains unchanged. Personal housing loans, preferential loans and loans as otherwise stipulated in the State Council, the interest rate does not rise.
2. Establish a downward floating system of RMB deposit interest rate. Financial institutions take the benchmark interest rate of RMB deposits set by the People's Bank of China as the upper limit, and implement the deposit interest rate downward floating system. That is, the lower limit of RMB deposit interest rate is 0, and the upper limit is the benchmark interest rate of deposits of all grades. Taking the adjusted one-year deposit rate (2.25%) as an example, financial institutions can independently determine the one-year deposit rate within the range of 0-2.25%. The deposit interest rate cannot go up. The scope of the deposit interest rate downward floating system includes RMB deposits of enterprises and institutions absorbed by financial institutions and RMB savings deposits of urban and rural residents.
Extended data:
Determination of loan interest rate in Article 13 of the General Principles of Loans. The lender shall determine the interest rate of each loan according to the upper and lower limits of the loan interest rate stipulated by the People's Bank of China, and specify it in the loan contract.
Article 14 Calculation and collection of loan interest. Lenders and borrowers shall collect or pay interest on schedule according to the loan contract and relevant interest-bearing provisions of the People's Bank of China. When the loan extension period and the original term reach the new interest rate term grade, the loan interest will be charged at the new term grade interest rate from the date of extension. Penalty interest is charged for overdue loans according to regulations.