- 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 2025 is 4.22%
The Section 7520 rate is 4.60%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 2.75% | 2.73% | 2.72% | 2.71% |
| Mid-term (3 to 9 years) | 2.88% | 2.86% | 2.85% | 2.84% |
| Long-term (over 9 years) | 3.51% | 3.48% | 3.46% | 3.48% |
January 2025
The Section 7520 rate is 5.20%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.33% | 4.28% | 4.26% | 4.24% |
| Mid-term (3 to 9 years) | 4.24% | 4.20% | 4.18% | 4.16% |
| Long-term (over 9 years) | 4.53% | 4.48% | 4.46% | 4.44% |
February 2025
The Section 7520 rate is 5.40%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 3.29% | 3.26% | 3.25% | 3.24% |
| Mid-term (3 to 9 years) | 3.42% | 3.39% | 3.38% | 3.37% |
| Long-term (over 9 years) | 3.67% | 3.64% | 3.62% | 3.61% |
March 2025
The Section 7520 rate is 5.40%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 3.26% | 3.23% | 3.22% | 3.21% |
| Mid-term (3 to 9 years) | 3.38% | 3.35% | 3.34% | 3.33% |
| Long-term (over 9 years) | 3.64% | 3.61% | 3.59% | 3.58% |
April 2025
The Section 7520 rate is 5.00%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.16% | 4.12% | 4.10% | 4.09% |
| Mid-term (3 to 9 years) | 4.21% | 4.17% | 4.15% | 4.13% |
| Long-term (over 9 years) | 4.61% | 4.56% | 4.53% | 4.52% |
May 2025
The Section 7520 rate is 5.00%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.05% | 4.01% | 3.99% | 3.98% |
| Mid-term (3 to 9 years) | 4.10% | 4.06% | 4.04% | 4.03% |
| Long-term (over 9 years) | 4.62% | 4.57% | 4.54% | 4.53% |
June 2025
The Section 7520 rate is 5.00%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.00% | 3.96% | 3.94% | 3.93% |
| Mid-term (3 to 9 years) | 4.07% | 4.03% | 4.01% | 4.00% |
| Long-term (over 9 years) | 4.77% | 4.71% | 4.68% | 4.66% |
July 2025
The Section 7520 rate is 5.00%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.12% | 4.08% | 4.06% | 4.05% |
| Mid-term (3 to 9 years) | 4.19% | 4.15% | 4.13% | 4.11% |
| Long-term (over 9 years) | 4.90% | 4.84% | 4.81% | 4.79% |
August 2025
The Section 7520 rate is 4.80%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 3.05% | 3.03% | 3.02% | 3.01% |
| Mid-term (3 to 9 years) | 3.07% | 3.05% | 3.04% | 3.03% |
| Long-term (over 9 years) | 4.64% | 3.61% | 3.59% | 3.58% |
September 2025
The Section 7520 rate is 4.80%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 4.00% | 3.96% | 3.94% | 3.93% |
| Mid-term (3 to 9 years) | 4.04% | 4.00% | 3.98% | 3.97% |
| Long-term (over 9 years) | 4.83% | 4.77% | 4.74% | 4.72% |
October 2025
The Section 7520 rate is 4.60%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 3.81% | 3.77% | 3.75% | 3.74% |
| Mid-term (3 to 9 years) | 3.87% | 3.83% | 3.81% | 3.80% |
| Long-term (over 9 years) | 4.73% | 4.68% | 4.65% | 4.64% |
November 2025
The Section 7520 rate is 4.60%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 3.69% | 3.66% | 3.64% | 3.63% |
| Mid-term (3 to 9 years) | 3.83% | 3.79% | 3.77% | 3.76% |
| Long-term (over 9 years) | 4.62% | 4.57% | 4.54% | 4.53% |
December 2025
The Section 7520 rate is 4.60%
| The AFRs are as follows: | Annual | Semi-annual | Quarterly | Monthly |
|---|---|---|---|---|
| Short-term (up to 3 years) | 2.78% | 2.76% | 2.75% | 2.74% |
| Mid-term (3 to 9 years) | 2.87% | 2.85% | 2.84% | 2.83% |
| Long-term (over 9 years) | 3.45% | 3.42% | 3.41% | 3.40% |