yes, the annual interest rate is 33%, which is an illegal high interest rate according to the current law. Legal Basis: Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases Article 25 If the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people's court shall support it, except that the interest rate agreed by both parties exceeds four times the quoted interest rate in the one-year loan market when the contract is established. The "one-year loan market quotation rate" mentioned in the preceding paragraph refers to the one-year loan market quotation rate issued by the National Interbank Funding Center authorized by the People's Bank of China on August 2, 219.