The annualized comprehensive interest rate of 24% means that if you borrow for one year, the interest is 24% of the principal. Converted, the annual interest rate is 2.4%, that is, the annual interest rate of borrowing 1 yuan is 2.4%, and the monthly interest rate is the annualized comprehensive interest rate divided by 12, that is, the monthly interest rate of borrowing 1 yuan is 2%. The daily interest rate is the annualized comprehensive interest rate divided by 365, which is 0.066%.

Generally speaking, the interest rate of credit loans will be higher than that of mortgage loans or secured loans, and the interest rate of short-term loans will be higher than that of long-term loans. At present, the annualized comprehensive interest rate of bank credit loans is generally between 10%-20%, and the annualized comprehensive interest rate of online lending platforms is generally between 15%-36%. Therefore, the annualized comprehensive interest rate of 24% belongs to the middle and high level.