?Source: read and understand new finance written in front of the article: most new financial enterprises are small and medium-sized enterprises. They don't have such huge users and data as ant financial services and JD digital. But they want to survive and make profits. Facing the squeeze of banks and new financial giants, raising interest rates is a common and necessary choice for small and medium-sized new financial enterprises. This series of articles is not to attack or flatter anyone, but only to explain the current situation, rationality and hidden dangers of high interest rate in the development of new finance from the perspective of three parties. Text: 2. In the 2124 year of new finance with high interest rate, the IPO of qudian triggered a collective outcry on the issue of high interest rate in the cash loan industry by the public opinion, and the regulatory authorities also showed their attitude towards the high interest rate: one size fits all. The first share of pleasant loan in Internet finance is also one of the representatives of the high interest rate problem. The reason why it became a representative is that the prospectus of pleasant loan disclosed a high annual interest rapc蛋蛋实力微信拉手群 te of 32.5%. The loan customers of Yiren loan are divided into four credit grades: A, B, C and D. the maximum annual interest rate of the loan of class D is 32.5%. In the past three years, the proportion of D-type borrowers of pleasant loans has been more than 41%. Why does this happen? "Because this category makes money," said one honest pleasant loan employee. (it has been pointed out that the interest rate of D-type loan of Yiren loan is not as high as 32.5%, and the actual interest rate is 22.22%, among which the difference is the difference of calculation method).