The cost for customers to go to the pawnshop for financing includes interest and comprehensive expenses. At present, the six-month legal loan interest rate of banking institutions announced by the People's Bank of China is 5.475 ‰; The upper limit of the monthly comprehensive rate of pawn is 42‰. If the influence of comprehensive fee withholding is added, what is the actual monthly interest rate of customer financing? Take a customer as an example to go to the pawnshop for financing by means of chattel pledge with the highest comprehensive rate. For example, the loan is 1 000 yuan, the term is 1 month, the interest rate is 5‰, and the monthly comprehensive interest rate is charged at the upper limit of 42‰. In the case of withholding the comprehensive expenses in full, the customer actually got a loan of 1, 000 yuan-1, 000 yuan × 42 ‰ = 958 yuan. After 1 month, the loan amount that the customer needs to repay is 1000 yuan+1000 yuan× 5 ‰ =1005 yuan. Assuming that the actual monthly interest rate of customer financing is I, the following formula can be obtained: 958 yuan × (1+I) = 1005 yuan. The calculation result is I = 49.06 ‰. That is, the actual monthly interest rate of customer financing is 49.06‰. Then, in theory, what is the highest monthly interest rate for pawn loans? If the pawn period is 6 months, the monthly comprehensive interest rate is 42‰, and the loan interest rate rises by 50%, the comprehensive expenses will be withheld in full. The result is that the monthly interest rate is close to 58‰. In practice, why is the monthly interest rate of pawnshop loans to most customers far lower than the above calculation results? Mainly due to the following factors limit the increase in interest rates. First, customers will shorten the loan period as much as possible. Generally, the longest loan term is 1 month. Customers prefer to renew pawn procedures frequently to increase disposable funds and reduce the monthly interest of loans. The second is the restrictions of the regulatory authorities. Pawnshops were severely punished for breaking through the interest rate ceiling and issuing loans, which was not worth the loss. Pawn business includes not only movable property pledge pawns with higher comprehensive rates, but also many real estate mortgage pawns and real right pledge pawns with lower comprehensive rates. The third is the influence of horizontal competition and the relationship between capital supply and demand. In fact, many pawn businesses only charge comprehensive fees, excluding interest. When calculating interest, it is generally considered to be convenient to calculate and attract customers, and the maximum charge is only 5‰. The above is some information about the mortgage interest of pawn shops.