The annual interest rate is 7.3%. If the loan is repaid in installments, the comprehensive interest rate is less than this figure.
Why is this interest rate not high? Let's compare it. According to the annual interest rate, usury is between 24% and 36%, and private lending is generally between 10%- 15%, so it is not high.
In addition, the procedures for mortgage of private and bank loans are complicated, while borrowing is relatively simple, so it is ok to accumulate credit at ordinary times.