Break the law. The annual interest rate is 300010000×12 = 360%. The monthly interest rate is 30% and the annual interest rate is 360%, which belongs to usury. Usury is illegal and does not constitute a crime. However, usury is not protected by national laws. According to the relevant laws and regulations of our country, the interest rate agreed by both parties exceeds 4 times the quoted interest rate of one-year loan market when the contract is established, and the court does not support it. 2021the LPR published on February 20th is four times that of 15.4%. 、

Provisions on several issues concerning the application of law in the trial of private lending cases

Article 26

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 4 times the market quotation of one-year loan at the time of the establishment of the contract.

skill

The above answer is only for the current information combined with my understanding of the law, please refer carefully!

If you still have questions about this issue, I suggest you sort out relevant information and communicate with professionals in detail.