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What is the interest on private lending now?

Questioner: @a.*** City: National Label: Private Borrowing Interest Question Time: 2017-11-25 12:29
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  •             Enthusiastic net friend
    2017-11-26 18:24
    Private lendingThe parties to the interest are free to agree as long as the agreed interest does not exceed the same period of the bankLending ratesFour times are protected by law. Even if it exceeds four times the bank's interest rate for the same period, as long as the other party is willing to give legal advice, it will not take the initiative to intervene. Only the party who owes money will not be able to repay the debt. If the party is insolvent, it will be appealed to the court and the court will judge the interest within four times. Now in our countryBank loanAnnual interest rate5.6%, multiplied by 4, equals 22.4%, so in this range is protected by law.
    "Several Opinions on People's Courts Trial on Private Lending Cases"
    6. The interest rate for private lending can be appropriately higher than the interest rate of the bank. People's courts in various localities can have specific control over the actual situation in the region, but the maximum interest rate must not exceed four times the bank's interest rate (including the interest rate). Exceeding this limit, excess interest will not be protected.
    7. The lender shall not count the interest on the principal and seek high profits. When the trial finds that the creditor counts interest into the principal calculation and compound interest, if the interest rate exceeds the limit specified in Article 6, excess interest will not be protected.
    10. The fraudulent, coercive or other means of a party or the danger of a person taking the person’s life so that the other’s borrowing relationship formed in violation of the true intention shall be deemed to be invalid. If the credit relationship is invalid due to the behavior of the creditor, only the principal will be returned; if the borrowing relationship is invalid and caused by the debtor’s actions, in addition to the return of the principal, interest shall be paid on the basis of the bank’s interest rate on the same loan.
    The interest on Article 200 of the "Contract Law of the People's Republic of China" shall not be deducted from the principal in advance. If interest is deducted from the principal in advance, the loan shall be repaid according to the amount of actual borrowing and the interest shall be calculated.
  •             Enthusiastic net friend
    2017-11-26 12:35
     Private lendingIt is a civil act and subject to civil law and contract law. The law stipulates the highest interest of private lending, and there is no minimum interest.
    According to Article 211 of the "Contract Law" stipulated: "If a loan contract between natural persons stipulates interest payments, the interest rate of the borrowing may not violate the provisions of the State concerning restrictions on the interest rate on borrowing."
    At the same time, according to the relevant provisions of the Supreme People’s Court’s “Several Opinions on the Case of People’s Courts Hearing Lending”: “The interest rate for private lending may be higher than the bank’s interest rate, but the maximum may not exceed that of a bank.Lending ratesFour times.” Therefore, the principal of private lending is protected. Interest not exceeding four times the bank’s interest rate on the same loan is also protected by law, while the excess is not protected by law.
    The benchmark interest rate for the same period refers to the benchmark interest rate announced by the Central Bank. For example, during the 1-year period, the benchmark interest rate is about 5%, and 4 times is 20%, that is, more than 20% is a lawful usury loan.
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