Interest rate

For borrowing rates, the borrowing rate shall not be in violation of State contract law provisions relating to limited borrowing rates; judicial interpretation of the specific provisions for contract rate shall not exceed a maximum of similar Bank lending rates four times. In other words, private lending interest rates shall not exceed a maximum of 4 times times the loan rate, the parties may consultations in the Bank lending rate 4 times over the same period. As the current annual interest rate of one-year Bank loans to 5.85%, the one-year lending interest rate shall not exceed 23.4%. Which can be summed up as bank lending rates are 4 times less than in the same period belongs to the legal interest rate, more than 4 times, belonging to the loan sharks, and portion of the loan sharks are not protected by law. BACK
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