A monthly interest rate of 3% means that the borrower needs to pay an interest rate of 3% every month. This figure seems small, but if a loan amount is large, such as 1, yuan, the monthly interest to be paid is also very considerable. Therefore, before borrowing money, borrowers need to carefully calculate their repayment ability to avoid excessive burden and make repayment difficult.

When the loan term is long, the monthly interest rate of 3% seems to be low, but in fact, the growth rate of the total repayment amount can not be ignored. When choosing the loan term, we should not only consider the interest expenses, but also consider our own repayment plan, and choose the repayment term that suits us, so as to better repay and reduce unnecessary expenses.

The monthly interest rate of 3% is a relatively common interest rate in the ordinary lending market, but in the highly competitive financial market, there are also many options for lending. Therefore, when choosing the loan direction and platform, the borrower needs to carefully compare the interest rate, term, repayment method and other factors of various loan products, and make a cautious and wise choice accordingly.