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Monthly Federal Rates

Which AFR (Applicable Federal Rate) should you use?

  • Terms of three years or less. If the term of a debt instrument is three years or less, the applicable federal rate is the federal short-term rate.
  • Terms of over three years but not over nine years. If the term of a debt instrument is over three years but not over nine years, the applicable federal rate is the federal mid-term rate.
  • Terms of over nine years. If the term of a debt instrument is over nine years, the applicable federal rate is the federal long-term rate.
  • For loans that do not have a specific term and are outstanding for at least a year, the Blended Annual Rate is used.
    • The Blended Annual Rate for 2019 is 2.42%

November 2019

The Section 7520 rate is 2.0%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
1.68% 1.67% 1.67% 1.66%
Mid-term  
(3 to 9 years)
1.59% 1.58% 1.58% 1.57%
Long-term  
(over 9 years)

1.94%

1.93% 1.93% 1.92%

October 2019

The Section 7520 rate is 1.8%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
1.69% 1.68% 1.68% 1.67%
Mid-term  
(3 to 9 years)
1.51% 1.50% 1.50% 1.50%
Long-term  
(over 9 years)

1.86%

1.85% 1.85% 1.84%

September 2019

The Section 7520 rate is 2.2%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
1.85% 1.84% 1.84% 1.83%
Mid-term  
(3 to 9 years)
1.78% 1.77% 1.77% 1.76%
Long-term  
(over 9 years)
2.21% 2.20% 2.19% 2.19%

August 2019

The Section 7520 rate is 2.2%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
1.91% 1.90% 1.90% 1.89%
Mid-term  
(3 to 9 years)
1.87% 1.86% 1.86% 1.85%
Long-term  
(over 9 years)
2.33% 2.32% 2.31% 2.31%

July 2019

The Section 7520 rate is 2.6%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.13% 2.12% 2.11% 2.11%
Mid-term  
(3 to 9 years)
2.08% 2.07% 2.06% 2.06%
Long-term  
(over 9 years)
2.50% 2.48% 2.47% 2.47%

June 2019

The Section 7520 rate is 2.8%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.37% 2.36% 2.35% 2.35%
Mid-term  
(3 to 9 years)
2.38% 2.37% 2.36% 2.36%
Long-term  
(over 9 years)
2.76% 2.74% 2.73% 2.72%

May, 2019

The Section 7520 rate is 2.8%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.39% 2.38% 2.37% 2.37%
Mid-term  
(3 to 9 years)
2.37% 2.36% 2.35% 2.35%
Long-term  
(over 9 years)
2.74% 2.72% 2.71% 2.70%

April, 2019

The Section 7520 rate is 3.0%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.52% 2.50% 2.49% 2.49%
Mid-term  
(3 to 9 years)
2.55% 2.53% 2.52% 2.52%
Long-term  
(over 9 years)
2.89% 2.87% 2.86% 2.85%

March, 2019

The Section 7520 rate is 3.2%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.55% 2.53% 2.52% 2.52%
Mid-term  
(3 to 9 years)
2.59% 2.57% 2.56% 2.56%
Long-term  
(over 9 years)
2.91% 2.89% 2.88% 2.87%


February, 2019

The Section 7520 rate is 3.2%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.57% 2.55% 2.54% 2.54%
Mid-term  
(3 to 9 years)
2.63% 2.61% 2.60% 2.60%
Long-term  
(over 9 years)
2.91% 2.89% 2.88% 2.87%

January, 2019

The Section 7520 rate is 3.4%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.72% 2.70% 2.69% 2.68%
Mid-term  
(3 to 9 years)
2.89% 2.87% 2.86% 2.85%
Long-term  
(over 9 years)
3.15% 3.13% 3.12% 3.11%

December, 2018

The Section 7520 rate is 3.6%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.76% 2.74% 2.73% 2.72%
Mid-term  
(3 to 9 years)
3.07% 3.05% 3.04% 3.03%
Long-term  
(over 9 years)
3.31% 3.28% 3.27% 3.26%

November, 2018

The Section 7520 rate is 3.6%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.70% 2.68% 2.67% 2.67%
Mid-term  
(3 to 9 years)
3.04% 3.02% 3.01% 3.00%
Long-term  
(over 9 years)
3.22% 3.19% 3.18% 3.17%

October, 2018

The Section 7520 rate is 3.4%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.55% 2.53% 2.52% 2.52%
Mid-term  
(3 to 9 years)
2.83% 2.81% 2.80% 2.79%
Long-term  
(over 9 years)
2.99% 2.97% 2.96% 2.95%

September, 2018

The Section 7520 rate is 3.4%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.51% 2.49% 2.48% 2.48%
Mid-term  
(3 to 9 years)
2.86% 2.84% 2.83% 2.82%
Long-term  
(over 9 years)
3.02% 3.00% 2.99% 2.98%

August, 2018

The Section 7520 rate is 3.4%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.42% 2.41% 2.40% 2.40%
Mid-term  
(3 to 9 years)
2.80% 2.78% 2.77% 2.76%
Long-term  
(over 9 years)
2.95% 2.93% 2.92% 2.91%

July, 2018

The Section 7520 rate is 3.4%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.38% 2.37% 2.36% 2.36%
Mid-term  
(3 to 9 years)
2.87% 2.85% 2.84% 2.83%
Long-term  
(over 9 years)
3.06% 3.04% 3.03% 3.02%

June, 2018

The Section 7520 rate is 3.4%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)

2.34%

2.33% 2.32% 2.32%
Mid-term  
(3 to 9 years)
2.86% 2.84% 2.83% 2.82%
Long-term  
(over 9 years)
3.05% 3.03% 3.02% 3.01%

May, 2018

The Section 7520 rate is 3.2%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.18% 2.17% 2.16% 2.16%
Mid-term  
(3 to 9 years)
2.69% 2.67% 2.66% 2.66%
Long-term  
(over 9 years)
2.94% 2.92% 2.91% 2.90%

April, 2018

The Section 7520 rate is 3.2%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
2.12% 2.11% 2.10% 2.10%
Mid-term  
(3 to 9 years)
2.72% 2.70% 2.69% 2.68%
Long-term  
(over 9 years)
3.04% 3.02% 3.01% 3.00%

March, 2018

The Section 7520 rate is 3.0%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
1.96% 1.95% 1.95% 1.94%
Mid-term  
(3 to 9 years)
2.57% 2.55% 2.54% 2.54%
Long-term  
(over 9 years)
2.88% 2.86% 2.85% 2.84%

February, 2018

The Section 7520 rate is 2.8%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
1.81% 1.80% 1.80% 1.79%
Mid-term  
(3 to 9 years)
2.31% 2.30% 2.29% 2.29%
Long-term  
(over 9 years)
266% 2.64% 2.63% 2.63%

January, 2018

The Section 7520 rate is 2.6%

The AFRs are as follows: Annual Semi-  
annual
Quarterly Monthly
Short-term  
(up to 3 years)
1.68% 1.67% 1.67% 1.67%
Mid-term  
(3 to 9 years)
2.18% 2.17% 2.16% 2.16%
Long-term  
(over 9 years)
2.59% 2.57% 2.56% 2.56%

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