Job Recruitment Website - Immigration policy - Is it illegal for 250 yuan to borrow 5,000 yuan of interest a day?

Is it illegal for 250 yuan to borrow 5,000 yuan of interest a day?

Illegal. According to the information of China Travel Service. Com, borrowing 5000 a day with interest of 250, is usury, which is illegal in law. Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital.