There is no monthly interest on bank credit card loans, because monthly interest is easy to cause legal disputes. According to the relevant laws and regulations, the loan interest must be the product of the loan amount and interest rate, and the bank loan is 30,000 yuan. Suppose you borrow for 65,438+02 months, the first loan amount is 30,000 yuan, and the money borrowed in the second month is not 30,000 yuan, until the principal gradually decreases in 65,438+02 months. If the bank calls it monthly interest, then the bank will lose money. In fact, banks call it a handling fee, which means a monthly handling fee of 0.38% of the initial loan amount. In this way, it is actually the loan at the beginning of the year, with an annualized interest rate of 8.3 13%, which can be said to be the lowest interest rate in the bank.