How to move decimal places in SQL

I want to place a decimal between the first and second digit of the interest rate and keep 2 trailing after the decimal. How do I go about doing this?

SELECT TOP 10 l.PARENTACCOUNT AS [Account Number]
        , l.interestrate AS [Interest Rate]
FROM dbo.LOAN l

This is my current result:

Account Number  Interest Rate
0000000107       9900
0000000107       11900
0000002000       5750
0000002460       10300
0000002652       9900
0000003850       0
0000004942       7510
0000004942       4990
0000004942       5000
0000006652       6790

This is my desired result:

Account Number  Interest Rate
0000000107       9.90
0000000107       1.19
0000002000       5.75
0000002460       1.03
0000002652       9.90
0000003850       0.00
0000004942       7.51
0000004942       4.99
0000004942       5.00
0000006652       6.79

EDIT: I ended up using this to get the correct interest rate

ISNULL(convert(decimal(4, 2), stuff(convert(varchar(255), interestrate), 2, 0, '.')), 0)

Answer

Strange format; you cannot handle interest rates less than 1%.

You can do:

select convert(decimal(4, 2), stuff(convert(varchar(255), interestrate), 2, 0, '.'))

This converts the value to a number, adds the decimal place, and converts to a decimal.

Here is a db<>fiddle.