Is online loan payment legal?

Legal analysis: most online lending platforms or staging platforms are informal and the interest is too high. It is suggested to pay the loan at the interest rate agreed in the loan contract. If the interest exceeds 24% of the annual interest rate (including all kinds of liquidated damages and handling fees), you can sue for refusing to repay. If you don't repay, you may be sued, or threatened by the dunning company, which will affect your credit investigation.

Legal basis: Civil Code of People's Republic of China (PRC).

Article 673 Where the borrower fails to use the loan according to the agreed purpose, the lender may stop issuing the loan, recover the loan in advance or terminate the contract.

Article 674 The borrower shall pay interest at the agreed time limit. If the time limit for paying interest is not stipulated or clearly stipulated, and cannot be determined according to the provisions of Article 510 of this Law, if the loan period is less than one year, it shall be paid together with the loan; If the loan term is more than one year, it shall be paid at the end of each year; if the remaining term is less than one year, it shall be paid together with the loan.

Article 676 If the borrower fails to repay the loan within the agreed time limit, it shall pay the overdue interest in accordance with the agreement or the relevant provisions of the state.