Legal basis: the provisions of the Supreme Law on several issues concerning the application of law in the trial of private lending cases.
Article 26 If the interest rate agreed between the borrower and the lender does not exceed the annual interest rate of 24%, and the lender requests the borrower to pay interest at the agreed interest rate, the people's court shall 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. The people's court shall support the borrower's request to the lender to return the part of the interest paid that exceeds 36% per annum.
Twenty-ninth borrowers and lenders have agreed on overdue interest rates, which shall be implemented in accordance with the agreement, but the annual interest rate shall not exceed 24%. If the overdue interest rate is not agreed or clearly agreed, the people's court may handle it according to different circumstances:
(1) The lender claims that the borrower should pay the interest during the period of capital occupation at the annual interest rate of 6% from the date of overdue repayment, and the people's court should support it because the interest rate during the loan period has not been agreed;
(2) If the interest rate during the loan period is agreed, but the overdue interest rate is not agreed, the people's court shall support the lender to claim that the borrower shall pay the interest during the capital occupation period according to the interest rate during the loan period from the date of overdue repayment.
Article 30 The lender and the borrower have agreed on overdue interest rate, liquidated damages or other expenses. The lender may choose to claim overdue interest, liquidated damages or other expenses, or both, but the people's court will not support the part exceeding 24% of the annual interest rate.