The interest rate of 2.88% is converted into annual interest rate, which means that the interest rate is regarded as one that will be applied continuously for one year. Specifically, if a loan or investment is made at the interest rate of 2.88%, this interest rate will be directly reflected as the annual interest rate within one year.
So the rate of 2.88% is the annual interest rate of 2.88%. This means that if the principal is 100 yuan, the annual interest is 2.88 yuan. Such an interest rate level is generally considered to be relatively low, which is suitable for some low-risk investment or loan products.