3% is usually the monthly interest rate, which means that the interest on borrowing one yuan a month is 3%. 3% monthly interest is 0.3%. If you borrow 654.38+ ten thousand yuan, the monthly interest rate is 654.38+ ten thousand *0.3%=300 yuan; The annual interest is 3600 yuan; The interest on this loan is ok, but not very high.

In fact, such a loan interest rate is rare at 20 18. By borrowing from the bank, the benchmark interest rate (annual interest rate) for one year is 4.35%, that is, the loan is 654.38+ million, and the annual interest is 4350 yuan. Compared with bank loans, both generate more interest.

When handling bank loans, all banks will require borrowers to have a good credit record. If there is bad credit, the bank will refuse the loan. If other loans are overdue or credit cards are overdue, there may be bad credit records, and banks may refuse loans.