The interest rates of bank loans are all annual interest rates. At present, the benchmark interest rates of bank loans are as follows:

Conversion between annual interest rate and monthly interest rate: annual interest rate/12= monthly interest rate (expressed in ‰), and monthly interest rate * 12= annual interest rate.

Extended data:

The benchmark interest rate for deposits and loans is the central bank (? The loan guidance interest rate issued by the People's Bank of China to commercial banks is one of the monetary policies used by the central bank to regulate the operation of social economy and financial system.

References:

Baidu encyclopedia-benchmark loan interest rate