The piggy bank is a comprehensive loan information platform, and there is no specific data about the loan interest of the piggy bank on the Internet. In this way, the interest of piggy bank loan is not fixed, and will be adjusted appropriately according to the amount and time of user loan. Netizens shared their experiences, borrowed 5,000 yuan from the piggy bank, spent 6 months, and paid back more than 800 yuan in interest. Then according to the original interest of ***800, the average monthly interest is 134 yuan, and the monthly interest rate is 2.68%, which is more than 32. 16% annualized. The state stipulates that more than 36% of annualized loans are usurious, because the figures given by netizens are not specific, only to see that the interest rate of piggy banks is not low.
According to the Decision on Amending the Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases (adopted at the1809th meeting of the the Supreme People's Court Judicial Committee on August 20, 2020, and implemented as of August 20, 2020):
If the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds 4 times the market quotation of one-year loan at the time of the establishment of the contract. The' one-year loan market quotation' mentioned in the preceding paragraph refers to the one-year loan market quotation issued monthly by the National Interbank Funding Center authorized by the People's Bank of China from August 20, 20 19.
In usury activities, if high-interest lending reaches a certain amount, it constitutes the crime of illegally absorbing public deposits; For the purpose of lending, taking credit funds from financial institutions and lending them to others at a high interest rate, the illegal amount is large, which constitutes the crime of lending at a high interest rate; For the purpose of illegal possession, illegal fund-raising by fraudulent means, with a large amount, constitutes the crime of fund-raising fraud; Usury can easily lead to criminal offences such as illegal detention, kidnapping, injury and fraud; Private intermediaries and individuals with legitimate income lend at high interest rate with their own funds, which belongs to private lending behavior. A loan dispute belongs to the category of civil adjustment.
Usury interest = loan amount * interest rate * term, which is a common calculation method of loan interest. For example, for a usurer with a monthly interest of 4 points, the loan amount is 654.38+ 10,000 yuan, and the interest of 654.38+0 months is 654.38+000000 * 4% * 654.38+0 = 4,000 yuan.