According to Article 26 of the Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, if the interest rate agreed by both lenders and borrowers does not exceed 24% per annum, 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 in excess of 36% of the annual interest rate.
Extended data:
According to the Notice of the People's Bank of China on Banning Underground Banks and Combating usury, the interest rate of private personal loans is determined by both borrowers and borrowers through consultation, but the interest rate determined through consultation between the two parties shall not exceed 4 times (excluding floating) of the loan interest rate of financial institutions at the same level in the same period announced by the People's Bank of China. What exceeds the above criteria should be defined as high-interest lending? .
In usury activities, the crime of illegally absorbing public deposits is constituted when high-interest lending reaches a certain amount; For the purpose of lending, taking credit funds from financial institutions and lending them to others at a high interest rate, the illegal amount is large, which constitutes the crime of lending at a high interest rate;
For the purpose of illegal possession, illegal fund-raising by fraudulent means, with a large amount, constitutes the crime of fund-raising fraud; Usury can easily lead to criminal offences such as illegal detention, kidnapping, injury and fraud; Private intermediaries and individuals with legitimate income from their own funds lend at high interest rates, which belongs to private lending behavior. If there is a loan dispute, it belongs to the category of civil adjustment.
Cangzhou Intermediate People's Court —— Provisions on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases