- 36% or 100%? It is a false proposition to line up the cash loan interest rate! High bad debts, high interest rates, and no risk control.... The cash lending industry has been affixed with these labels, and it has just rectified. On April 10, the China Banking Regulatory Commission first introduced a cash loan and clearly requested that the cash lending business activities should be cleared up and rectified. All parties in the industry revolve around cash loans, arguing...
- Heavy! Shanghai Huangpu District Great Remedy Cash Loans: Interest Rates Must Not Exceed 36% Recently, the Huangpu District Office for Internet Financial Risk Special Remediation held a closed-door working conference. At the meeting, the Huangpu District Office of the Office of the Office of the Office of Financial Affairs proclaimed the regulations for the regulation of Internet finance to 24 mutual gold companies. In addition to reaffirming the need for mutual gold companies to implement dual-reduction commitments, Huang Pu...
- "Cash Loan" trap: annualized interest rate exceeds 100%, soft violence collection is not uncommon The online loan industry has ushered in strict supervision, the pain of compliance rectification and the countdown of bank depository, and the dramatic reshuffle of Internet finance. However, there is a kind of online loan business in the winter but it is in full swing, that is the cash loan business. Every 30,000 yuan, up to 20,000 micro loan business,...
- Secret Micro Cash Loan: Annualized interest rate is 100%. Do you dare to borrow this money? This article is a fusion of 360 columnist author's original work of the financial planner. It only represents the author's personal point of view. It does not represent the 360 official position. The article written yesterday gave Xiao Huang people a little emotion. Today, they checked out the Merchants Bank loan, and there is a product called lightning borrowing. The highest can actually be...
- Will Palm Financial's implementation of the 36% interest rate cap 36% lead to the death of a large number of platforms? Judging from the recent regulatory developments and the performance of the cash lending platform, the comprehensive annualized yield limit of 36% will be the clear definition of the future online loan interest rate ceiling, but it is also suggested that 36% will lead to the industry's failure to survive. Have responded to 36% annualized earnings November 26th...
Cash Loan Interest Debunking: The Annual Interest Rate is 36% and "Two Lines and Three Zones"
The rectification of cash loans by related departments will come as expected, and many non-compliant platforms have also started downline rectification. An important reason for non-compliance is that the actual interest rate of products is too high. In the end, how high interest rates are legally compliant? What?
As early as in the financial marketization reform in November 2013, the Supreme People's Court delineated the two red lines of 24% and 36%. The two red lines divided interest rates into three “regions”:
Judicial protection area
The interest rate agreed between the lender and the borrower does not exceed 24% of the annual interest rate. If the lender requests the borrower to pay interest at the agreed interest rate, the people's court will support it;
The interest rate agreed between the lender and the borrower exceeds the annual interest rate of 36%, and the excess interest agreement is invalid. If the borrower requests the lender to return the interest paid over 36% of the annual interest rate, the people's court shall support it;
Natural debt area
For the portion between 24% and 36%, if the lender petitioned the people's court for the protection of interest in this area pursuant to the contract, the people’s court would not be protected by the law; if the borrower repays this part of the interest, it will go back to the court. The court will also reject such a lawsuit if the court is sued for recovery;
Interest within 24% is protected by law and must be returned; more than 36% of interest cannot be returned, but it can also be recovered through legal channels; interest between 24% and 36%, if not returned, The court will not accept the lender's request for money recovery. If it has already returned, the court will not accept the borrower's request for recovery;
The origin of 24% standard
For private lending, the government has long-term controls. After the founding of New China, the earliest approval of the Supreme Law for private lending was to the northeastern Liaoning Province in the early 1950s. The practice of quadrupling the interest rate was established. Since then, the quadruple-rate interest rate has been used in trial practice. In 1991, judicial interpretation was established. It continues to follow this practice.
In the recent 20 years, the benchmark lending rate promulgated by the Central Bank has changed significantly. The minimum is 2.0%, the highest is 12.0%, and the middle is 5%-8%. 6%, and with reference to the traditional four times the meaning, to get 24% of such a figure.
【Exclusive Manuscripts and Disclaimer】 All works marked as “Future 360 Original” must be reproduced, excerpted or otherwise used by any entity, organization or individual without authorization in writing. Has been authorized in writing, indicating the source melts 360. Violations of the above statement inflicted violations of the legal rights and interests of 360 will be legally pursued. The materials and conclusions in the work are for reference only and do not constitute operational recommendations. For written authorization, please email: firstname.lastname@example.org
- Comment list (User comments are only for users to express personal views, does not mean that this site agrees with their views or confirms their description)
- Cash Loan Interest Debunking: The Annual Interest Rate is 36% and "Two Lines and Three Zones"
- Mortgage rates are low You deserve to have
- Influence geometry? The central bank cancels the lower limit of loan interest rate
- “Three Nothing” Beijing Salaried Workers Which Kind of Unsecured Loan Products Is Suitable?
- Loan Highlights 2013 Alternative Inventory
- Loan 315 in 2014, detailed loan pits!
- What is the lowest interest unsecured loan product in 2014?
- A monthly salary of 3,000, owes a lot of online loans, how to quickly pay off?
- Heavy! Central Bank and China Banking Regulatory Commission Jointly Rectify: New Cash Loan Regulations Settled
- Loan unspoken rules: Credit investigation has been checked by the organization many times and it is difficult to borrow money!
- Loans need to verify credit card and billing email! What exactly is this?
- As a guarantee for friends, people overdue repayment, I can still loan?
- Lao Lai owes 170 million yuan, but he claimed to have lived with creditors for 4 years! This is exactly
- How is the loan most suitable? This three strokes must know!
- Borrowed more than 100,000 cash loans and girlfriends to open stores, girlfriends ran, loans are not yet
- The blacklist of the untrusted executor will affect the next generation. You dare to owe debt.
- If you owe 5,000 of the money, you will not be able to go on it. If you see it overdue, will I go to jail?
- Shanghai Free Trade Zone General Plan Announces Interest Rate Will Be Marketed
- What is the loan interest rate of Handan Commercial Bank in 2014?
- What is the bank loan interest rate in Chengdu in 2014?
- What is the loan interest rate of Kaifeng City Commercial Bank in 2014?
- Nanjing Bank loan interest rate in 2014 how much?
- What is the loan interest rate for Nanchang Bank in 2014?
- What is the loan interest rate for Datong Commercial Bank in 2014?
- What is the bank loan interest rate in Hangzhou in 2014?
- What is the loan interest rate of Anshan City Commercial Bank in 2014?
- What is the loan interest rate for Guangxi Beibu Gulf Bank in 2014?