At present, microfinance in China is in line with international standards.
It turns out that there is no legal loan with high interest rate in China (for example, the annual interest rate is 25%)
In foreign countries, the interest rate of small unsecured credit is relatively high (up to 50%, mostly for payday credit).
1. At present, there is a similar phenomenon in China. For example, the monthly loan interest rate of Ping An Bank is 2%, which is equivalent to the interest rate of 28%. This is legal. Don't worry, other banks also have them.
2. If your income is higher and your monthly income after tax is higher than 5,000 yuan, you can borrow money from the bank with an annual interest rate of 7%, ranging from 500,000 to several hundred thousand.
If you have liquid assets that can be mortgaged, such as national debt and bonds issued by large companies, you can borrow money at a lower interest rate.
If you have fixed assets, you can also borrow at a lower interest rate.