Legal analysis: The monthly interest rate is 1%, and the annual interest rate is 12%. Now the annual interest rate of the bank's loans for the same period is 6.15%, which is definitely high. According to the law, the interest rate of private lending cannot exceed four times that of the bank's loans for the same period, which is obviously a typical usury.

legal basis: article 68 of the civil code of the people's Republic of China prohibits lending at high interest, and the interest rate of borrowing shall not violate the relevant provisions of the state.