For example, a monthly interest rate of 6% means a monthly interest rate of 6% per yuan. Because 1 yuan is 1000%, a bank loan interest rate of 6% means a monthly interest rate of 6%. The annual interest rate is 0.6%* 12=7.2%. Monthly profit 1% is equal to 0. 1%. 2% monthly profit equals 0.2%.
If the interest rate is 2%, the annualized interest rate is only 0.2%* 12=2.4%, which belongs to the normal interest range and does not belong to usury.
The Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases clearly states: "If the interest rate agreed by both borrowers and lenders does not exceed 24% of the annual interest rate, the people's court 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. The people's court shall support the borrower's request to the lender to return the interest paid exceeding 36% of the annual interest. " The new judicial interpretation will be implemented on September 1 2065438.
In other words, as long as the interest does not exceed 36%, it is legal, and the part below 24% is protected by the court. You can pay 24%-36%, but you will regret it or not.
When using "Li" and "Minute", we must pay attention to whether the previous time is day, month or year. Different time backgrounds have different percentages! I'd like to remind you that in the IOUs, the place where disputes are likely to occur is just "interest 1 minute", and it is not indicated whether the monthly interest rate is 10%, and the monthly interest rate is10% (converted into annual interest rate 12%), with a difference of 2%.
As the use price of capital, interest plays a very important role in the operation of market economy, which is mainly reflected in the following aspects:
1, the role of influencing enterprise behavior
2. The role of influencing residents' asset selection behavior
3. Functions that affect government behavior:
Because interest income is closely related to the economic interests of the whole social deficit and surplus departments, the government can also use it as an important economic lever to regulate economic operation.