The monthly interest rate is the interest rate for one month, and the annual interest rate is the interest rate for one year. For the same product, if the interest rate is fixed, there is no difference between the monthly interest rate and the annual interest rate. It is just that the interest rates are calculated annually. For data calculated and calculated on a monthly basis, the interest within the same period of time is the same. The conversion method of annual interest rate and monthly interest rate is: monthly interest rate = annual interest rate ÷ 12; if the interest rate is not fixed, then the monthly interest rate is converted into years. The interest rate may be different from the annual interest rate given.