According to the regulations of the People's Bank of China, the current effective interest rate is 4.00% for loans with a term of less than five years (inclusive) and 4.50% for loans with a term of more than five years. If the loan term is within 1 year (including 1 year), the principal and interest shall be repaid in one lump sum; If the loan term exceeds 1 year, two repayment methods are adopted: equal principal and interest or equal principal repayment.