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 2024is 5.03%
- View2023Rates
September2024
The Section 7520 rate is 4.80%
See Also
Funding Rates| The AFRs are as follows: | Annual | Semi- annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.57% | 4.52% | 4.49% | 4.48% |
| Mid-term (3 to 9 years) | 4.02% | 3.98% | 3.96% | 3.95% |
| Long-term (over 9 years) | 4.37% | 4.32% | 4.30% | 4.28% |
August2024
The Section 7520 rate is 5.20%
| The AFRs are as follows: | Annual | Semi- annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.95% | 4.89% | 4.86% | 4.84% |
| Mid-term (3 to 9 years) | 4.34% | 4.29% | 4.27% | 4.25% |
| Long-term (over 9 years) | 4.52% | 4.47% | 4.45% | 4.43% |
July2024
The Section 7520 rate is 5.40%
| The AFRs are as follows: | Annual | Semi- annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 3.84% | 3.80% | 3.78% | 3.77% |
| Mid-term (3 to 9 years) | 3.40% | 3.37% | 3.36% | 3.35% |
| Long-term (over 9 years) | 3.49% | 3.46% | 3.45% | 3.44% |
June 2024
The Section 7520 rate is 5.60%
| The AFRs are as follows: | Annual | Semi- annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 5.12% | 5.06% | 5.03% | 5.01% |
| Mid-term (3 to 9 years) | 4.66% | 4.61% | 4.58% | 4.57% |
| Long-term (over 9 years) | 4.79% | 4.73% | 4.70% | 4.68% |
May2024
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% |
April2024
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% |
March2024
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% |
February2024
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% |
January2024
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% |
Next Steps
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