Bank interest is calculated based on the interest rate.

Because legal interest is usufruct (usufruct rights and usufruct claims) consideration, it is in principle measured by general equivalents. That is to say, the material form of legal interest is in principle currency and a kind of thing. Such as bank interest, house rent, etc.

Article 116 of the "Property Rights Law" If there is an agreement between the parties, the statutory interest shall be obtained in accordance with the agreement; if there is no agreement or the agreement is unclear, the statutory interest shall be obtained in accordance with transaction customs. Statutory interest refers to the income obtained from legal relationships, such as the rent collected by the lessor according to the lease contract, the interest obtained by the lender according to the loan contract, etc.

Extended information:

The main differences between statutory interest:

Statutory interest and natural interest both have the name of interest. They are found in various countries and regions around the world. In some legislative examples, they are often stipulated in parallel, but they are not the same in nature and belong to different fields. The basis for the distinction between the two is that statutory interest is a transaction object. Natural yields are derivatives.

Different material forms:

1. Because legal interest is usufruct (usufruct rights and usufruct claims) consideration, it is in principle measured by general equivalents. That is to say, the material form of legal interest is in principle currency and a kind of thing. Natural fruits can be types or specific things. The former is like harvested wheat, and the latter is like a panda being born. However, it is only after natural interest enters the transaction state that it has the legal meaning of distinguishing between types of objects and specific objects.

2. Natural fruits are all chattels. Legal fruits can logically be real estate because the parties are allowed to freely agree on them. However, the author has not found any such examples in practice. Because the value of real estate is generally high, as consideration for the benefits, it is generally not worth the gain.

Baidu Encyclopedia-Statutory Interest