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Avg Interest Rates




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Applicable Federal Rate (AFR) Warning





According to IRS regulations, loans of more than $13,000 in one year must have a minimum interest rate in order to be considered a loan and not a gift. The IRS posts updated AFR rates monthly on their website.

The AFR Annual Rate as of November 2024 is %.

In order to avoid having the IRS consider this loan a gift, you should adjust your interest rate to be equal to or greater than the current AFR.

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Average Lending Rates

Selecting an interest rate can be a difficult process. Below are the average rates for other personal loans classified by category. Feel free to use these rates as a general guideline for setting your rate, but make sure your final rate works for both the lender and the borrower.

Loan Type Small Loan Medium Loan Jumbo Loan
Personal (Short Term) 9.00% 8.00% 8.50%
Personal (Medium Term) 3.67% 5.00% 5.00%
Personal (Long Term) - 4.00% 4.58%
Real Estate (Short Term) 9.00% 8.00% 20.00%
Real Estate (Medium Term) 5.00% 5.00% 5.75%
Real Estate (Long Term) - - 5.14%
Education (Short Term) - - -
Education (Medium Term) - - -
Education (Long Term) - - -
Business (Short Term) - - -
Business (Medium Term) 5.00% - 5.00%
Business (Long Term) - - -
Auto (Short Term) - - -
Auto (Medium Term) - 0.60% 5.50%
Auto (Long Term) - - -
Debt Consolidation (Short Term) 4.57% - 5.13%
Debt Consolidation (Medium Term) 8.00% 6.04% 3.70%
Debt Consolidation (Long Term) - - 4.15%
Discretionary Spending (Short Term) 5.00% 5.13% 6.21%
Discretionary Spending (Medium Term) 3.00% 5.00% 4.21%
Discretionary Spending (Long Term) - 4.00% 4.63%

View more Key Lending Rates


Notes


  • Short term equals 2 years or less
  • Medium term equals 2 - 7 years
  • Long term equals 7+ years


  • Small Loan equals $5,000 or less
  • Medium Loan is $5,001 - $15,000
  • Jumbo Loan is $15k+



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