The interest rate of 47% is 12 times that of Yu 'ebao, 9 times that of mortgage and 6 times that of P2P financing. General private lending can't reach this interest rate, so this is usury.
These online lending companies are very harmful, telling you that the interest rate is very low, but they will charge various miscellaneous fees such as information fees and service fees. Finally, the real interest rate is insanely high. There are many college students with poor self-control, who often borrow money from other platforms when they can't afford it, and finally borrow more and more, even far beyond the family's affordability, causing various tragedies.
Your friend only borrowed 20 thousand. In fact, he can borrow money through bank credit cards or ants. The interest is only 1/3 of Gitzo's, which can save more than 1 1,000 yuan in three years. After all, the money he borrowed was only 20 thousand yuan.
By the way, the bank information port finally said that the loan interest rate protected by law is within 24%, and 24%-36% is negotiated by both borrowers and lenders. Some laws over 36% are unprotected.
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