Is a loan interest rate of 4.75% usury?

The current normal annual loan interest rate is 14% to 18%, which is the normal range. Although yours is a bit high, it is within the normal legal range. If the annual interest rate exceeds 24% or even 36%, then it is an absolute loan shark. Do not borrow money, the interest rate is very high

The annualized interest rate refers to the inherent rate of return of the product Discounted to the full year's interest rate.

On March 31, 2021, the People's Bank of China issued an announcement to make relevant regulations on the annual interest rate of loans for loan products.

Assume that the return period of a financial product is a year and the total rate of return is b, then the annualized interest rate r

r=(1+b) a-th root minus 1

On March 31, 2021, the People's Bank of China issued an announcement to make relevant regulations on the annual interest rate of loans for loan products.

All institutions engaged in loan business should display the annual interest rate to borrowers in an obvious way when marketing through websites, mobile applications, promotional posters and other channels. Institutions engaged in loan business include but are not limited to depository financial institutions, automobile finance companies, consumer finance companies, small loan companies, and Internet platforms that provide advertising or display platforms for loan business.

The annual interest rate of the loan shall be calculated as the ratio of all loan costs charged to the borrower to the loan principal actually occupied, and converted into an annualized form. The annual interest rate of a loan can be calculated using the compound interest or simple interest method: the compound interest calculation method is the internal rate of return method; if the simple interest calculation method is used, it should be stated that it is simple interest.

Interest rate refers to the ratio of the amount of interest to the amount of borrowed funds (principal) within a certain period of time. Interest rate is the main factor that determines the level of corporate capital costs. It is also a decisive factor in corporate financing and investment. Research on the financial environment must pay attention to the current status of interest rates and their changing trends.

The interest rate is the ratio of the amount of interest due each period on the amount borrowed, deposited or borrowed (called the total principal) to the face value. The total interest on the amount lent or borrowed depends on the total principal amount, the interest rate, the frequency of compounding, and the length of time it is lent, deposited, or borrowed. Interest rate is the price a borrower pays for borrowing money, and it is the return the lender earns from lending to the borrower by delaying his or her consumption. The interest rate is usually calculated as a percentage of the one-year interest to the principal.