The annual interest is 72,000 yuan. The bank will approve the loan interest rate according to the loan type, repayment period and repayment method applied by the borrower. As long as one factor fluctuates, the borrower's loan interest rate will also change. However, according to the regulations, the maximum loan interest rate cannot exceed 24%, and the minimum loan interest rate cannot be lower than the latest LPR interest rate of the central bank. Suppose the borrower borrows 300,000 yuan, and the annual loan interest is 1 1.550 yuan at the lowest loan interest rate of 3.85%. If calculated according to the loan interest rate of 24%, the annual loan interest is 72,000 yuan. If there is no special reason, if ordinary people want to borrow up to 300,000 yuan, I am afraid it is impossible for them to apply for a credit loan with their personal reputation. The actual loanable amount is probably around100000 at most. Loan refers to a form of credit activity in which banks or other financial institutions lend money at certain interest or repayment conditions. Loans in a broad sense refer to loans, discounts, overdrafts and other loan funds. Banks concentrate money and monetary funds through loans to meet the supplementary needs of social expansion and reproduction, and at the same time, they can obtain loan interest income and increase their own accumulation.