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Nominal Interest Rates on Special Issues


Special-issue interest rates on new investments (percent)
Month 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999
January 8.125 8.125 6.875 6.875 6.000 8.000 5.875 6.625 6.000 5.000
February 8.500 8.125 7.250 6.500 5.750 7.750 5.875 6.625 5.750 5.000
March 8.625 8.125 7.375 6.250 6.250 7.375 6.375 6.750 5.875 5.625
April 8.750 8.125 7.625 6.250 6.875 7.375 6.625 7.125 6.000 5.625
May 9.125 8.125 7.625 6.125 7.125 7.250 6.875 6.875 6.000 5.625
June 8.750 8.125 7.375 6.250 7.250 6.500 7.000 6.875 5.875 6.000
July 8.500 8.250 7.125 5.875 7.375 6.500 6.875 6.750 5.750 6.125
August 8.375 8.250 6.750 5.875 7.125 6.625 6.875 6.250 5.750 6.250
September 8.875 7.875 6.625 5.625 7.250 6.500 7.125 6.625 5.375 6.250
October 8.875 7.500 6.500 5.625 7.750 6.375 6.875 6.375 4.875 6.250
November 8.625 7.500 6.875 5.625 7.875 6.250 6.500 6.125 5.125 6.250
December 8.375 7.375 7.000 5.875 8.000 6.000 6.250 6.125 5.125 6.375
Average 8.625 7.958 7.083 6.062 7.052 6.875 6.594 6.594 5.625 5.865


Month 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009
January 6.625 5.375 5.250 4.000 4.250 4.250 4.500 4.750 4.000 2.125
February 6.750 5.375 5.250 4.125 4.125 4.125 4.625 4.875 3.500 2.750
March 6.500 5.250 5.125 3.875 4.000 4.375 4.625 4.625 3.375 2.875
April 6.250 5.250 5.625 4.000 3.875 4.500 5.000 4.750 3.375 2.500
May 6.375 5.500 5.250 4.000 4.500 4.250 5.125 4.625 3.750 2.875
June 6.500 5.625 5.250 3.500 4.625 4.125 5.125 5.000 4.000
July 6.250 5.625 5.000 3.625 4.625 4.000 5.250 5.000 3.875
August 6.125 5.250 4.750 4.500 4.500 4.375 5.000 4.750 3.875
September 6.000 5.125 4.375 4.500 4.125 4.125 4.750 4.500 3.750
October 6.000 4.875 3.875 4.000 4.125 4.375 4.750 4.500 3.625
November 5.875 4.500 4.125 4.375 4.125 4.625 4.625 4.500 3.750
December 5.625 5.000 4.500 4.375 4.375 4.625 4.500 4.000 2.750
Average 6.240 5.229 4.865 4.073 4.271 4.312 4.823 4.656 3.635 NA

Note: The current formula for determining special-issue interest rates became effective with the October 1960 rate. Under this formula, the highest interest rate is 15.250 percent (October 1981) and the lowest rate is 2.125 percent (January 2009). See table for 1937-1989 interest rates.

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Last reviewed or modified May 4, 2009