What's the interest on a penny? Is it a usury?
2065438+In June 2009, Mr. Tao borrowed 20,000 yuan from Ms. Gao, and issued a debit note, which read: I borrow 20,000 yuan from Ms. Gao today, with annual interest of one point. After repeated reminders, Mr. Tao did not return it. 20 19, 1 1, Ms. Gao took Mr. Tao to court. During the trial, Mr. Tao had no objection to the loan itself, but thought that "one point per year" should be calculated at the annual interest rate 1%, while Ms. Gao thought that "one point per year" should be calculated at the annual interest rate 10%. So, what is the "one-point annual interest rate"?
In private lending, both borrowers and borrowers talk about several points of interest, especially in southern provinces and cities, and often encounter the saying that one point of interest and two points of interest. But how much is this dividend? Let's take a look with the dog god today!
There is a big difference between "one point a year" and "one point a month".
In private lending, there has been a conventional term "a few cents" since ancient times, that is, the interest corresponding to each yuan. The Modern Chinese Dictionary defines "fen" as: "fen, interest rate, annual profit is calculated at one tenth, and monthly profit is calculated at one percent."
It turns out that one-minute interest has different meanings in "one-minute annual interest" and "one-minute monthly interest". Let's give an example to illustrate-
"Ten cents annual interest" means borrowing one yuan and paying ten cents interest at the end of the year, which means the annual interest rate is 10%.
"One cent per month" means borrowing one yuan and paying one cent per month, which means the monthly interest is 1%.
In addition, "one point of daily interest" usually means borrowing one yuan and paying one point of interest every day. Daily interest rate 1%. "A dime a day" is converted into a monthly interest rate of 30% per month and an annual interest rate of 360%, which is a very high usury.
How to standardize the expression of loan interest rate
Back to the case at the beginning of the article, the judge finally ruled that Mr. Tao paid interest to Ms. Gao at the annual interest rate of 10%.
Therefore, it is necessary to use standardized interest rate expressions when issuing loan certificates.
The loan interest rate, also known as interest rate, refers to the ratio of the interest amount of the loan borrowed by the borrower to the principal amount in a certain period of time. Generally divided into annual interest rate, monthly interest rate and daily interest rate.
How to convert annual interest rate, monthly interest rate and daily interest rate? Generally speaking, the annual interest rate divided by 12 equals the monthly interest rate, and the annual interest rate divided by 360 equals the daily interest rate; The monthly interest rate multiplied by 12 equals the annual interest rate. The monthly interest rate divided by 30 equals the daily interest rate; Daily interest rate multiplied by 360 equals annual interest rate, and daily interest rate multiplied by 30 equals monthly interest rate. Therefore, "earning one point per month" is actually the annual interest rate 12%, which is higher than "earning one point per year".
The accurate annual interest rate is expressed as a percentage, the monthly interest rate is expressed as one thousandth, and the daily interest rate is expressed as one thousandth. If it is written as the annual interest rate of 9%, that is to say, every one hundred yuan of deposits will earn regular interest in 9 yuan, the monthly interest rate will be written as 10‰ (the monthly interest rate for every one hundred yuan of deposits is 1 yuan) and the daily interest rate will be written as 1.5? That is, the daily interest for every ten thousand yuan deposit is one yuan and fifty cents.
What is the red line of usury?
At present, the interest rate of small mortgage loans or real estate mortgage loans is generally higher than that of bank loans, so the annualized interest rate is the final interest amount.
When all interest rates are converted into annual interest rates, the annual interest rate is 10%, while the monthly interest rate is 12, that is, the annualized interest rate is 12%. By analogy, "two points per year" means the annual interest rate is 20%, while "two points per month" means the annualized interest rate is 24%.
2065438+On August 6, 2005, the Supreme Court issued the Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, which pointed out that the interest rate agreed by both borrowers and lenders did not exceed the annual interest rate of 24%, and if the lender requested the borrower to pay interest at the agreed interest rate, the people's court should support it; The interest rate agreed between the borrower and the borrower exceeds the annual interest rate of 36%, and the interest agreement in excess is invalid. In other words, the annual interest rate of 36% has become the "red line" of usury, which is higher than the annual interest rate of six-thirds (36%), the monthly interest rate of three-thirds (30‰) and the daily interest rate of one point (10? )。
In this way, when you borrow money from each other, you can see it clearly. For example, according to media reports, at one time, Wenzhou's mortgage business earned 4 cents interest in 6 days, that is, daily interest 1.5 (daily interest 150? ), the annual interest rate is as high as 540%, which is already a very, very high usury and is not protected by national laws.