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Product classification

Private loans

Private loans

Private lending refers to citizens, between citizens, between citizens and legal persons and other organizations borrow. Provided that the parties have expressed real finds effective mortgage effective due to borrowing, but interest rates must not exceed interest rates under the people's Bank. Private lending is a direct financing, Bank lending is a form of indirect financing channels. Private lending is an investment channel of private capital, is a form of private finance. According to the contract law article No. 211: "between natural persons a contract for loan interest payments, the interest rate shall not be in violation of the relevant provisions to limit borrowing interest rates." According to the Supreme People's Court on the court cases of borrowing a number of views of the relevant provisions of: "private lending rates may be higher than the bank interest rate appropriately, but shall not exceed a maximum of similar Bank lending rates four times." BACK

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