The Supreme Law promulgated new regulations, taking the one-year loan market quoted interest rate (LPR) released by the National Interbank Funding Center on the 20th of each month as the standard, and clearly determined the upper limit of judicial protection of private lending interest rate, replacing the original "regulations" of "two lines and three districts based on 24% and 36%". According to the latest one-year loan market quotation of 3.85%, the upper limit of judicial protection of private lending interest rate is 15.4%, which is significantly lower than the past 24% and 36%.
Legal basis: Article 680 of the Civil Code of People's Republic of China (PRC) prohibits high-interest lending, and the lending rate shall not violate the relevant provisions of the state.
If there is no agreement on the payment of interest in the loan contract, it shall be deemed that there is no interest.
If the loan contract does not specify the payment method of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or the parties' trading methods, trading habits, market interest rates and other factors; Loans between natural persons are regarded as interest-free.