The "overdue double indemnity" agreed in private lending is invalid. Because it far exceeds the standard of 24% annual interest rate stipulated by the Supreme Court.

1, which will result in high overdue penalty interest; 2, will collect; 3. If the borrower still refuses to repay the loan after the judgment of the court, the court may seal up, detain, freeze, transfer or auction the property of the person subjected to execution according to law, or take compulsory measures such as limiting the high fees charged by the person subjected to execution, including the person subjected to execution in the list of people who have lost faith, etc., to ensure that the creditor's rights can be realized.

Legal basis: Provisions of the Supreme People's Court on Several Issues Concerning the Application of Law in the Trial of Private Lending Cases.

Twenty-ninth borrowers and lenders have agreed on overdue interest rates, which shall be implemented in accordance with the agreement, but the annual interest rate shall not exceed 24%.

If the overdue interest rate is not agreed or clearly agreed, the people's court may handle it according to different circumstances:

(1) The lender claims that the borrower should pay the interest during the period of capital occupation at the annual interest rate of 6% from the date of overdue repayment, and the people's court should support it because the interest rate during the loan period has not been agreed;

(2) If the interest rate during the loan period is agreed, but the overdue interest rate is not agreed, the people's court shall support the lender to claim that the borrower shall pay the interest during the capital occupation period according to the interest rate during the loan period from the date of overdue repayment.

Article 30 The lender and the borrower have agreed on overdue interest rate, liquidated damages or other expenses. The lender may choose to claim overdue interest, liquidated damages or other expenses, or both, but the people's court will not support the part exceeding 24% of the annual interest rate.