So many online loan companies have closed down, don't you need to repay the loan?

Legal analysis: Although the online lending platform has closed down, the debt relationship between borrowers and investors through the platform will not disappear. Investors still have the right to recover the loan. However, if the online lending platform goes bankrupt, it will be unable to continue to provide intermediary services, so some intermediary fees, service fees, excess interest and other parts that exceed the statutory annualized rate of 24% can be exempted.

Legal basis: the Supreme People's Court's opinions on people's courts' handling of loan cases.

Article 6 The interest rate of private lending may be appropriately higher than that of banks, which shall be specifically grasped by the local people's court according to the actual situation in the region, but the maximum interest rate shall not exceed 4 times that of similar loans of banks (including the principal interest rate). Beyond this limit, the excess interest will not be protected.

Article 10 A loan relationship formed by one party against its true meaning by means of fraud, coercion or taking advantage of others' danger shall be deemed invalid.