The bank's interest rate of 6% is legal, excluding 6%, which is four times the benchmark interest rate stipulated by the People's Bank of China, that is, the monthly interest rate of 6% is 0.6%. Annual interest rate = monthly interest X 12=0.6% 12=7.2%. The benchmark interest rate for bank loans is 4.35%, which is less than four times, so it is not.

Interest is the use fee of money in a certain period of time, and it refers to the reward that money holders (creditors) get from borrowers (debtors) for lending money or monetary capital. Including deposit interest, loan interest and interest generated by various bonds. Under the capitalist system, the source of interest is the surplus value created by hired workers. The essence of interest is a special transformation form of surplus value and a part of profit.

As the use price of funds, interest plays a very important role in the operation of market economy, mainly in the following aspects:

As the occupation cost of an enterprise, interest directly affects the economic benefits of the enterprise. In order to reduce costs and improve efficiency, enterprises should do everything possible to reduce the amount of funds, and at the same time compare the costs of various financing methods in the process of financing. If the enterprises in the whole society regard saving interest expenses as a common behavior mode, then the efficiency of economic growth will certainly be improved.

With the increasing real income level and savings rate of Chinese residents, asset selection behavior has emerged. The increase of financial instruments provides an objective basis for residents' asset selection behavior, and interest income is the main incentive for residents' asset selection behavior. Residents' departments attach importance to interest income and spontaneously produce asset selection behavior, which has an impact on macro-control and micro-foundation reconstruction. Judging from China's current situation, the high savings rate has become a major feature of China's economy, providing a solid financial foundation for the rapid economic growth. The various asset selection behaviors made by residents under the incentive of interest income have contributed to the realization of various macro-controls.

2. The annual interest rate of the loan is 4.35, which is equivalent to the monthly interest? Thank you!

The annual interest rate is 4% 35, the loan 100000 yuan, and the annual interest is only 4350 yuan.

The bank loan interest rate refers to the benchmark interest rate set by the People's Bank of China, and the actual contract interest rate can fluctuate within a certain range on the basis of the benchmark interest rate. The loan interest rate refers to the ratio of interest amount to principal amount during the loan period.

Problems needing attention in expanding the interest rate of information loans

1. When applying for a loan, the borrower makes a correct judgment on his repayment ability. Design a repayment plan according to your income level, leaving room appropriately, without affecting your normal life.

2. Choose the appropriate repayment method. There are two repayment methods: equal repayment method and equal principal repayment method. Once the repayment method is agreed in the contract, it shall not be changed during the whole loan period.

3. Repay on time every month to avoid penalty interest. From the month after the loan is initiated, it is generally the repayment date of the next month. Don't cause liquidated damages because of your negligence, so that banks can't apply for loans again.