Legal analysis
There is no quota for private lending. Private lending is actually private lending. In fact, as long as the parties reach an agreement on lending and do not violate the law, this lending behavior is considered effective. However, if interest is agreed in the process of lending, we should pay attention to not agreeing too high, otherwise it will constitute usury, and then the law will not protect it. According to relevant laws and regulations, the interest rate agreed by the borrower and the borrower shall not exceed 24% per annum. If the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall support it. The interest rate of private personal loans shall not exceed 4 times the loan interest rate of financial institutions of the same grade in the same period announced by the People's Bank of China (excluding floating). Those who exceed the above standards should be defined as high-interest loans. The interest of usury is 36% higher than the national legal loan interest rate, so the interest calculation of usury is calculated from 36% higher than the bank interest rate in the same period. Therefore, private individual lending activities must strictly abide by the relevant provisions of national laws and administrative regulations, and follow the principles of voluntary mutual assistance, honesty and credit.
legal ground
Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases Article 25 If the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds four times the market quotation of one-year loan at the time of the establishment of the contract. The "one-year loan market quotation" mentioned in the preceding paragraph refers to the one-year loan market quotation issued monthly by the National Interbank Funding Center authorized by the People's Bank of China from August 20th, 20th, 20th19th.
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.