The interest rate of three ten thousandths generally refers to the daily interest rate of three ten thousandths, that is to say, the interest of 3 yuan per day on 10,000 yuan, and the annual interest is 1,095 yuan. Then the converted adult income is 0.03*365=10.95.

If we look at the bank’s benchmark loan interest rate, the interest rate of 10.95 is higher than the bank’s loan interest rate, but this loan interest rate is a normal interest rate compared to other loan products on the market.

According to national regulations, a loan interest rate exceeding 36 is considered usury, so when we take a loan, we must be careful not to make a loan that exceeds the national regulations.

Generally, the current interest calculation methods are divided into the following types:

(1) The interest rate conversion formula for RMB business is (note: common for deposits and loans):

1. Daily interest rate (0/000) = annual interest rate ()÷360 = monthly interest rate (‰)÷30;

2. Monthly interest rate (‰) = annual interest rate ()÷12.

(2) Banks can calculate interest using the cumulative interest calculation method and the transaction-by-transaction interest calculation method.

1. The accumulation interest calculation method accumulates the account balance based on the actual number of days every day, and calculates interest by multiplying the accumulated accumulation number by the daily interest rate. The interest calculation formula is: Interest = Accumulated Interest Accumulation Number × Daily Interest Rate, where Accumulated Interest Accumulation Accumulation Number = Total Daily Balance.

2. The transaction-by-transaction interest calculation method calculates interest on a transaction-by-transaction basis according to the predetermined interest calculation formula: interest = principal × interest rate × loan term.