Short-term bank loans generally calculate interest according to the monthly interest rate, so there must be a monthly interest rate.

Lenders with different credit ratings have different interest rates. The loan interest rate of the People's Bank of China rose by more than 10% in the same period.

The monthly interest rate 1 is equivalent to the annual interest rate 12%, which is more than twice the loan interest rate of the People's Bank of China in the same period, which is a bit high.