At present, the annual interest rate of the loan of 1-3 years (including 3 years) announced by the People's Bank of China is 4.75%. According to the benchmark interest rate, with the interest rate unchanged, the principal and interest will be repaid in equal amount, and the total interest will be 1 1986.58 yuan. Using the average capital method, the total interest is 1 17658.

If you are going to apply for a loan in China Merchants Bank, the loan interest rate needs to be comprehensively priced in combination with the business type, credit status, guarantee method and other factors you apply for, and can only be determined after being approved by the handling outlets.