Hello, in 199 1, in fact, the Supreme People's Court has already issued relevant regulations on private lending. In this "Several Opinions on People's Courts Handling Cases of Private Lending", it is stipulated that the interest rate of private lending may be appropriately higher than that of banks, but the maximum shall not exceed four times that of similar loans of banks. The annual interest rate announced by the People's Bank of China is less than 6%, which means that the interest rate of private lending should not exceed 24%, and the excess is not protected by law. # Hello, usury is illegal, so the borrower can only repay the principal and interest within the scope prescribed by law. In addition, since usury is a violent crime when there are many ways to collect debts, it is not recommended for the parties to consider this loan method. The RMB loan interest rate table is as follows:
I. Short-term loans
Six months (inclusive) 4.86
Six months to one year (inclusive) 5.3 1
Second, medium and long-term loans
One to three years (inclusive) 5.40
Three to five years (inclusive) 5.76
More than five years 5.94
If you borrow 1 ten thousand, 1 year, the interest will be 54,000 yuan.
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