What should I pay attention to when agreeing to a loan?

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In life, when individuals borrow money, they can generally agree on interest according to the wishes of both parties, but at the same time, we should know that the right to agree on interest will also be bound by law. So when we agree on loan interest, we'd better pay attention to related issues. So, what should the parties pay attention to when they agree to borrow money? Let's get to know each other.

First, what should I pay attention to when I agree to borrow money?

If the loan contract between natural persons stipulates to pay interest, the loan interest rate shall not violate the provisions of the state on limiting the loan interest rate. Article 90 of the General Principles of the Civil Law stipulates that "the legal loan relationship is protected by law", and Article 6 of the Supreme People's Court's Opinions on People's Courts Handling Loan Cases stipulates that "the interest rate of private loans may be appropriately higher than that of banks, and the local people's courts may specifically grasp it according to the actual situation in the region, but the maximum interest rate shall not exceed four times that of similar loans of banks. Beyond this limit, the excess interest will not be protected. " Please pay attention to the following points when calculating personal loan interest:

(1) If both parties agree on the interest rate in the loan contract or IOU, the interest shall be calculated according to the interest rate agreed by both parties. The agreed interest rate can be higher than the bank interest rate, but the law limits the upper limit, and the part that exceeds 4 times the interest of similar loans of the bank in the same period is invalid. In addition, the lender may not include interest in the principal to obtain high profits. If it is found that the creditor has included interest in the principal to calculate compound interest, it will not be protected. If the interest is deducted from the loan, the interest shall be calculated according to the actual loan amount.

(II) If both parties have not agreed on the interest in the loan contract or iou, or the agreement is unclear, according to Article 8 of the Opinions of the Supreme People's Court on Handling Loan Cases by People's Courts, if there is a dispute between the borrower and the lender on whether there is an agreed interest rate and it cannot be proved, the interest can be calculated with reference to the interest rate of similar loans from banks. In actual cases, whether to pay interest or not, the court has discretion, and the judgment of whether to pay interest has legal basis.

Second, what should be paid attention to in the agreement on loan interest?

In personal loans, both parties can clearly agree on interest-free loans. If the repayment period is agreed, the borrower fails to repay the loan on time, or the repayment period is not agreed, and the borrower still fails to repay the loan after being urged by the lender, the lender may demand to pay the interest after the urging, and the interest shall be calculated with reference to the similar loan interest rate of the bank.

Be sure to make it clear, otherwise it will only be regarded as uninterested. When making specific agreements, we should not blindly pursue high interest rates, which will only turn ordinary private lending into usury, which is not protected in China. In this case, the legitimate rights and interests of the parties may be damaged.

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