According to national regulations, the interest rate of private loans is four times, and the excess is not guaranteed. The excess is wrong, and the interest rate of private loans is capped at 28%.

Pay annual interest rate

Two, the state stipulates that the loan interest can not exceed how much.

More than 24% is illegal.

1. Loan interest refers to the reward that the lender gets from the borrower for issuing monetary funds, and it is also the price that the borrower must pay for using the funds.

2. The bank loan interest rate refers to the ratio of the interest amount to the principal amount during the loan period. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower limits of interest rates stipulated by the Bank of China.

3. If the loan interest rate is high, the repayment amount of the borrower will increase after the loan term, otherwise it will decrease. There are three factors that determine loan interest: loan amount, loan term and loan interest rate.

4. The default interest rate of overdue loans (loans that the borrower fails to repay on the date agreed in the contract) is changed from the current daily interest rate of 2. 1% to 30%-50% higher than the loan interest rate agreed in the loan contract; If the borrower fails to use the loan as agreed in the contract, the penalty interest rate will be changed from the current daily interest rate of five ten thousandths to 50%- 100% of the loan interest rate agreed in the loan contract.

5. For loans that are overdue or not used according to the purpose agreed in this contract, interest will be charged at the default interest rate from the date when they are used in loans overdue or not according to the purpose agreed in this contract until the loan principal and interest are fully paid off. For the interest that cannot be paid on time, compound interest shall be calculated at the penalty interest rate.

3. What is the upper limit of entrusted loan interest rate?

China People's Bank from June 8th 20 12:

(1) Adjust the upper limit of the floating range of deposit interest rate of financial institutions to 1. 1 multiple of the benchmark interest rate;

(2) Adjust the lower limit of the floating range of the loan interest rate of financial institutions to 0.8 times of the benchmark interest rate.

Benchmark interest rate of RMB loans

Within 6 months (including 6 months) 6 6 months to 1 year (including 1 year) 1 to 3 years (including 3 years) 3 to 5 years (including 5 years) 5 years or more.

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