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 2023 is 4.65%
- View 2023 Rates
May 2024
The Section 7520 rate is 5.40%
| The AFRs are as follows: | Annual | Semi- annual |
Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) |
4.97% | 4.91% | 4.88% | 4.86% |
| Mid-term (3 to 9 years) |
4.42% | 4.37% | 4.35% | 4.33% |
| Long-term (over 9 years) |
4.55% |
4.50% | 4.47% | 4.46% |
April 2024
The Section 7520 rate is 5.20%
| The AFRs are as follows: | Annual | Semi- annual |
Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) |
3.70% | 3.67% | 3.65% | 3.64% |
| Mid-term (3 to 9 years) |
3.26% | 3.23% | 3.22% | 3.21% |
| Long-term (over 9 years) |
3.37% |
3.34% | 3.33% | 3.32% |
March 2024
The Section 7520 rate is 5.00%
| The AFRs are as follows: | Annual | Semi- annual |
Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) |
4.71% | 4.66% | 4.63% | 4.62% |
| Mid-term (3 to 9 years) |
4.13% | 4.09% | 4.07% | 4.06% |
| Long-term (over 9 years) |
4.40% |
4.35% | 4.33% | 4.31% |
February 2024
The Section 7520 rate is 4.80%
| The AFRs are as follows: | Annual | Semi- annual |
Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) |
4.68% | 4.63% | 4.60% | 4.59% |
| Mid-term (3 to 9 years) |
3.98% | 3.94% | 3.92% | 3.91% |
| Long-term (over 9 years) |
4.18% |
4.14% | 4.12% | 4.10% |
January 2024
The Section 7520 rate is 5.20%
| The AFRs are as follows: | Annual | Semi- annual |
Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) |
5.00% | 4.94% | 4.91% | 4.89% |
| Mid-term (3 to 9 years) |
4.37% | 4.32% | 4.30% | 4.28% |
| Long-term (over 9 years) |
4.54% |
4.49% | 4.47% | 4.45% |
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