As long as the interest does not exceed four times the bank loan interest rate for the same period, it will be fine.

How to write a legally binding IOU:

First of all, we must pay attention to the standardization of the format. Usually an IOU consists of three parts, the title (i.e. the word "IOU"), the text and the signature (composed of the borrower and the time of borrowing).

You can refer to the following format:

IOU:

Today, Wang borrowed 5,000 yuan from Li to purchase furniture. The loan period is three years. month, from January 1, 2014 to April 1, 2014, the monthly interest rate is 2%, and a penalty of 3% of the borrowed principal will be paid on one day overdue.

Borrower: Wang January 1, 2014

Note: The content of the IOU and the signature of the borrower must be filled in by the borrower himself, otherwise it will be invalid!

Secondly, you must state the matter and reason for the loan, as well as the amount of the loan. At the same time, use capital letters to indicate the amount.

The IOU does not include repayment-related matters. If necessary, a separate repayment-related agreement needs to be attached.

In addition, for IOUs, you should choose a larger font size when writing to prevent malicious modification.

An IOU is a written document indicating the relationship between a creditor and a debtor. It is usually written and signed by the debtor, indicating that the debtor has owed the creditor the amount specified in the IOU. An IOU is a note written to the other party when borrowing cash or items from an individual or a public person. It is an IOU.

After the money and items are returned, the note maker will take the note back and invalidate or tear it up. It is a certifying document. Usually used in daily life and business management.

From a legal perspective, an IOU is a written document indicating the relationship between a creditor and a debtor. It is usually written and signed by the debtor, indicating that the debtor has owed the creditor the amount specified in the IOU.

Definition:

An IOU is usually a documentary document used to prove the relationship between a creditor and a debtor. It is usually written by the debtor and issued to the creditor.

Risk prevention:

(1) Complete supporting evidence

In addition to properly keeping IOUs, creditors should also pay attention to retaining other evidence that can prove their claims, such as transfer records wait. If you transfer money through WeChat, Alipay, etc., it is best to indicate the nature of the loan and other information that should be included in the IOU in the form of a postscript or information at the same time as the transfer, and ask the debtor to issue a written IOU afterwards.

(2) Verify and clarify the identity of the subject

First of all, the creditor should examine the debtor’s identity document and require the debtor to write the IOU in person to avoid hidden dangers caused by others signing on his behalf. If the IOU is a typed copy, it is best to require the borrower's signature, seal, and thumbprint in the borrower's signature column.

(3) Clarify whether the borrower borrows in the name of a natural person or a company. Legally, the legal representative or responsible person can engage in civil acts, including payments, on behalf of a company or enterprise. If the creditor does not clarify the identity of the debtor, the identity of the borrower may be confused. The direct consequence is that creditors will have to face mutual blame-shifting between the company or enterprise and the borrower in future lawsuits, thus causing trouble for the realization of creditor's rights.