Daily interest rate (0/000) = annual interest rate (%) ÷ 360 = monthly interest rate (‰) ÷ 302. Monthly interest rate (‰) = annual interest rate (%) ÷ 12.
Legal basis: Article 6 of "Several Opinions of the Supreme People's Court on People's Courts Handling Loan Cases" can be higher than the bank's interest rate, and local people's courts can specifically grasp it according to the actual situation in the region, but the maximum shall not exceed 4 times (including interest rate) of the bank's similar loan interest rate. Beyond this limit, the excess interest will not be protected.