Is it illegal to charge high service fees for loans?

Legal analysis: if you simply borrow directly from the bank, there will be no service fee; But from a legal point of view, the loan agency fee is legal. The agency fee is a legal fee, and the law supports it as long as it does not exceed the standard. The income of the microfinance company, that is, the cost of your loan, is mainly reflected in the interest rate level, and the service fee can be ignored.

Legal basis: Article 40 of the Law of People's Republic of China (PRC) on the Promotion of Small and Medium-sized Enterprises. The State encourages all kinds of social intermediary agencies to provide information consultation, investment and financing, loan guarantee, legal consultation and other services for small and medium-sized enterprises. The agency fee is a legal fee, and the law supports it as long as it does not exceed the standard.