Is interest rate 0.68% high?
The interest rate is 0.68%. 10000 yuan bears interest at 0.0068 for one month, with a monthly interest rate of 0.68%, which is equivalent to an annual interest rate of 0.68% × 12 = 8. 16%. This interest rate is a bit high, because the benchmark interest rate of 1 year loan stipulated by the state is only 4.35%/ year.