Legal analysis: The interest rates of private loans in my country are based on 24% (i.e. 2 cents interest) and 36% (3 cents interest). The interest rates are divided into three areas, judicial protection areas and natural debt areas. , invalid zone, constitute the "two lines and three zones" of private loan interest. In principle, the annual interest rate for private loans cannot exceed 24%. The court will protect the interest that does not exceed the annual interest rate of 24%; the interest that exceeds the annual interest rate of 24% but does not exceed the annual interest rate of 36% can no longer require the other party to return it, and the other party cannot require the other party to pay the interest that has not been paid; The interest agreement for the annual interest rate of 36% is invalid, and those who have already paid can also ask the other party to return it. The "head interest" that exists in private lending is not protected by law. The interest that the lender deducts from the principal in advance when lending a loan cannot be included in the loan principal and requires the borrower to return it.

Therefore, it is legal for the IOU interest to be no more than 24%. The law does not support or object to the portion between 24% and 36%, and the portion exceeding 36% is illegal.

Legal basis: Article 670 of the "People's Republic of China and Civil Code" The interest on the loan shall not be deducted from the principal in advance. If interest is deducted from the principal in advance, the loan shall be returned and interest calculated based on the actual borrowed amount.

Article 674 The borrower shall pay interest according to the agreed period. There is no agreement or the agreement is not clear about the period for payment of interest, and it 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 when the loan is returned; if the loan period is more than one year, It shall be paid at the end of each year. If the remaining period is less than one year, it shall be paid when the loan is returned. Article 680 Lending at high interest rates is prohibited, and the interest rate for borrowing must not violate relevant state regulations.

If the loan contract does not stipulate the payment of interest, it will be deemed that there is no interest.

If the loan contract does not clearly stipulate the payment of interest, and the parties cannot reach a supplementary agreement, the interest shall be determined according to the local or parties' transaction methods, transaction habits, market interest rates and other factors; if the loan is between natural persons, it shall be deemed that there is no Interest.