With the warming of the concept of advanced consumption, the number of people who participate in the ranks of "enjoy first, pay later" is gradually increasing. In this context, more and more negative second-generation people have found like-minded people, and "loan" has become a hot topic of chat among them. However, with the deepening of the topic, some of them found that the expected annualized interest rate of loans was not superior to that of unsecured borrowers, and even rose instead of falling. What happened? Many times, we all think that the expected annualized interest rate of real estate mortgage loans will be lower than that of unsecured loans under high risks. Admittedly, there is some truth in this statement, but in the complex financial market, it seems necessary to add an additional condition, that is, the personal qualification of the borrower is the premise. Only in this way can we meet the application qualifications of banks that dare to throw out price advantages. On the contrary, we can only pay attention to non-bank financial institutions with low application threshold and high price charges. What is a good personal qualification? The bank's assessment of personal qualifications will be determined by two indicators, namely personal credit and repayment ability. If your credit report shows that you have been overdue for more than 90 days or accumulated overdue for more than 6 times in two years, it is a sign of poor repayment willingness in the eyes of banks. In addition, a stable job shows a strong repayment ability. If this requirement is not met, it may be difficult to get a pass for loan approval. Generally speaking, two indicators are indispensable, and one can only face the dilemma of loan failure. However, not all financial institutions are as strict as banks. In the view of non-bank financial institutions such as pawn shops and guarantee companies, as long as you can provide recognized collateral such as houses and cars, even if your personal qualifications are not optimistic, you can pass the loan review. But because you are not sure about your repayment behavior, you will use high fees to balance the loan risk, and the fees will be higher than the bank's standards. This also explains the question at the beginning of this paper, why the expected annualized interest rate of loans is more expensive than unsecured loans when collateral is provided. To sum up, if you provide collateral and the loan is expected to have a high annualized interest rate, it must be a personal qualification problem. Therefore, I remind you that during the repayment of loans or credit cards on weekdays, you must develop the good habit of repaying in full and on time.