Not sure. The interest rate of engineering equipment mortgage loan depends on the specific equipment mortgaged. For example, the annualized interest rate of excavator mortgage loan in engineering equipment is about 7.2%, and the monthly interest rate is about 0.6%. The monthly interest rate per 10,000 yuan is only 60 yuan, while the annual interest rate of some production equipment mortgage loans is 6%- 18%. Different types of equipment have different mortgage values, and the interest rate will be determined according to the size of the guarantee risk. The mortgage loan for engineering equipment is generally about 60% of the equipment valuation, and the repayment method is mostly equal principal and interest. The loan can be used for up to three years, and the length of mortgage is also related to the type of equipment. For equipment with rapid depreciation and wear, such as equipment used in on-site construction projects, the mortgage period is generally 2 years, and the equipment can still be used during the mortgage period. Therefore, depreciation and wear continue, equipment is depreciating, the degree of protection is reduced, and the risk of bad debts is correspondingly high. Therefore, banks or lending institutions are generally reluctant to extend the term.