Is the interest rate of Sanxiang Bank high legal?

Sanxiang Bank is a regular bank, and the loan interest rate is within the legal range, which is not illegal. Sanxiang Bank is a private bank approved by China Banking and Insurance Regulatory Commission. It mainly provides financial services for "agriculture, rural areas and farmers", small and micro enterprises and communities. The loan interest rate is priced within a reasonable range and is legal and compliant. According to the interest rate policy of People's Republic of China (PRC), if the loan term is less than one year, the benchmark interest rate of the loan is 4.35%; If the loan term is more than one year, the benchmark loan interest rate is 4.75%. Therefore, the loan interest rate of Sanxiang Bank is within the legal scope and not illegal.