Folk debit and credit interest provisions in law how to

1, the two sides in the loan contract or promissory note interest rate was agreed in case:

stated as agreed by the parties at interest rate interest rates, prescribed interest rates can be higher than the bank interest rate, but the ceiling was limited by law, exceeds the limit above is invalid. Ceiling four times times the maximum of bank interest rates on similar loans (including interest rates) that exceeds this limit, the excess interest will not be protected. In addition, the lenders interest may not be accounted for in the capital to seek profits. If creditors interest into principal of compound interest, will not be protected. Borrowings the interest deduction should be according to the actual number of loan interest.

2, and both in borrowing contract or IOU in the no agreed or agreed unknown does to cannot determine of situation:

on this, China legal provides in part provides Shang is has conflict of, China contract method No. 211 article provides, natural people Zhijian (that personal and personal Zhijian) of borrowing contract on paid interest no agreed or agreed not clear of, considered not paid interest. As long as no written on the promissory note or loan contract to pay interest, the lender cannot require the payment of interest during the repayment period. Supreme People's Court on the implementation of the People's Republic of China some of the General principles of civil law matters article 124th, loan dispute over interest rates, if unclear, could not prove that may, in comparison with similar loans carry interest at a rate of banks. Similarly, borrowing in the Supreme People's Court on the court case opinions article 8th, borrowers have no contract rate dispute, could not prove, can refer to similar loans carry interest at a rate of banks.

therefore, in the case of whether the interest payments, the Court has discretion, judges have the final say, judgments or to pay interest not paid is to have a legal basis.

3, expressly of interest-free borrowing:

agreed repayment period and borrowers do not repay, or lenders not agreed repayment period after notice, borrowers do not repay, lenders require payment after the notice of interest, should be authorized, may refer to the bank interest rates on similar loans.

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