What is the interest on private loans? 40. How much interest does1Universal charge? Is it safe to borrow money How much interest does the law not protect?

If there are 3 points, 5 points or even higher, lending is risky and needs to be cautious. More than 4 times the bank's interest rate over the same period, and more than some laws are not protected.

The contract law stipulates that the loan interest rate shall not violate the provisions of the state on limiting the loan interest rate; Judicial interpretation specifically stipulates that the maximum agreed interest rate shall not exceed four times the interest rate of similar loans of banks. This means that the interest rate of private lending should not exceed 4 times of the bank loan interest rate in the same period, and both parties can negotiate within 4 times of the bank loan interest rate in the same period.

From this, it can be concluded that the loan interest rate within 4 times of the bank's loan interest rate in the same period belongs to the legal interest rate, and the loan interest rate over 4 times belongs to usury, and the usury part is not protected by law.

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