I. What is the meaning of interest rate
Lending between natural persons and between natural persons and legal persons or other organizations of non-financial institutions belongs to private lending. According to the Contract Law, a reception contract is a contract in which the borrower borrows money from the lender, returns the loan at maturity and pays interest. In general, the purpose of lending money to borrowers is to obtain interest. From the borrower's point of view, interest rate is the unit cost of using money, and it is the price that the borrower pays to the lender by using the lender's currency. From the lender's point of view, interest rate is the rate of return that the lender gets by lending money. In fact, interest rate is the ratio of interest to capital.
second, how is the interest calculated
(1) If I is used to represent the interest rate, I is used to represent the interest amount, and P is used to represent the principal, the interest rate can be expressed by the formula: I = I/P. The interest per unit time is equal to the principal times the interest rate. For example, the monthly interest rate is 2‰, and the monthly interest of 1, yuan is 2 yuan. Calculation formula: 1, yuan ×2‰=2 yuan. Generally speaking, interest rates are expressed in terms of annual interest rate, monthly interest rate and daily interest rate.
(2) according to industry rules, the daily interest rate is one ten thousandth (? ), the monthly interest rate is expressed in one thousandth (‰), and the annual interest rate is expressed in one percent (%). If not specified,? It means daily interest rate, ‰ means monthly interest rate and% means annual interest rate. The conversion formula between the year, month and day interest rates is:
1. Daily interest rate (? ) = annual interest rate (%)/36.
2. Monthly interest rate (‰) = annual interest rate (%)/12.
3. Daily interest rate (? ) = monthly interest rate (‰)/3.
(3) People often say that "how much interest per year (month)" refers to how much interest per year (month) should be paid for one yuan of principal. For example, "the monthly interest rate is 2 cents" means that the monthly interest rate of one yuan is 2 cents, and the monthly interest rate is .2 yuan /1 yuan =2‰, and the annualized interest rate is 2‰×12=24%. Then, the annual interest rate of one yuan is 24 cents. Calculation formula: 1 yuan ×24%=.24 yuan.
(4) There are usually two methods for calculating interest, namely, the product interest method and the transaction interest method. The accumulated interest method accumulates the daily loan balance according to the actual number of days, and calculates the interest by multiplying the accumulated amount by the daily interest rate. The interest-bearing formula is: interest = cumulative interest-bearing product × daily interest rate, where cumulative interest-bearing product = total daily balance. The product interest method is mainly used to calculate the interest of deposits and loans with frequent changes in principal, such as demand deposits.
(5) The interest calculation method is to calculate interest one by one according to the interest calculation formula with the determined principal and the agreed interest rate. The transaction-by-transaction interest calculation method is generally used to calculate the interest of deposits and loans with relatively fixed principal. Such as time deposits. If the interest-bearing period is a whole year (month), the interest-bearing formula is: interest = principal × annual (month) interest rate × number of years (months). If the interest-bearing period has a whole year (month) and odd days, the interest-bearing formula is: interest = principal × annual (month) interest rate × annual (month) principal × daily interest rate × odd days. You can also calculate interest by converting the interest period into actual days, that is, 365 days per year (366 days in leap year), and each month is the actual number of days in the Gregorian calendar of the current month. The interest calculation formula is: interest = principal × daily interest rate × actual days.
(6) The principal of private lending is relatively certain, and the interest rate is agreed in advance. Therefore, the interest of private lending is usually calculated by the transaction-by-transaction interest method.
after reading the above, you should know what interest rate means. In private lending, most of them are paid loans, that is, the parties will agree on a specific interest rate. Of course, in order to pursue high interest rates, the agreed interest rate may be higher. Be careful at this time. If the agreed interest rate is too high, it is likely to be recognized as usury, but in China, usury is actually not protected.
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[ lawyer's reply] will be accepted, but more than 36% will not be supported. This is based on Article 26 of the Supreme People's Court's Provisions on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases: "If the interest rate agreed by both borrowers and lenders does not exceed 24% per annum, the people's court shall support it. The interest rate agreed by the borrower and the borrower exceeds the annual interest rate of 36%, and the interest agreement exceeding the part is invalid. If the borrower requests the lender to return the interest paid in excess of 36% per annum, the people's court shall support it. " Within 24%, if the parties bring a lawsuit to the people's court, as our civil judicial trial, we must give legal protection. The section between 24% and 36% is called the natural debt zone. If the parties bring a lawsuit to the people's court to protect the interest in this range according to the contract, the people's court will not protect it by law.
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[ lawyer's reply] will be accepted, but more than 36% will not be supported. This is based on Article 26 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases: "If the interest rate agreed by both borrowers and lenders does not exceed 24% per annum, the lender requests the borrower to pay interest at the agreed interest rate,