Special-issue interest rates on new investments (percent)
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 3.250
July 6.250 5.625 5.000 3.625 4.625 4.000 5.250 5.000 3.875 3.250
August 6.125 5.250 4.750 4.500 4.500 4.375 5.000 4.750 3.875 3.250
September 6.000 5.125 4.375 4.500 4.125 4.125 4.750 4.500 3.750 3.125
October 6.000 4.875 3.875 4.000 4.125 4.375 4.750 4.500 3.625 3.000
November 5.875 4.500 4.125 4.375 4.125 4.625 4.625 4.500 3.750 3.125
December 5.625 5.000 4.500 4.375 4.375 4.625 4.500 4.000 2.750 2.875
Average 6.240 5.229 4.865 4.073 4.271 4.313 4.823 4.656 3.635 2.917


Month 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
January 3.500 2.875 1.500 1.500 2.500 2.125 2.250 2.375 2.375 2.750
February 3.125 2.875 1.500 1.625 2.250 1.625 1.875 2.375 2.750 2.625
March 3.125 3.000 1.625 1.500 2.250 1.875 1.750 2.375 2.875 2.750
April 3.375 3.000 1.875 1.500 2.375 1.875 1.750 2.375 2.750 2.500
May 3.250 2.875 1.625 1.375 2.375 2.000 1.750 2.250 2.875 2.500
June 2.875 2.500 1.375 1.750 2.250 2.000 1.875 2.250 2.875 2.250
July 2.625 2.625 1.375 2.125 2.250 2.250 1.500 2.250 2.875 2.125
August 2.500 2.250 1.250 2.125 2.375 2.125 1.500 2.250 3.000 2.125
September 2.125 1.875 1.250 2.375 2.125 2.125 1.625 2.250 2.875 1.625
October 2.125 1.625 1.375 2.250 2.375 2.000 1.625 2.250 3.000 1.750
November 2.125 1.750 1.375 2.125 2.125 2.125 1.875 2.375 3.125 1.750
December 2.375 1.750 1.375 2.250 2.000 2.125 2.375 2.375 3.000 1.875
Average 2.760 2.417 1.458 1.875 2.271 2.021 1.813 2.313 2.865 2.219


Month 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029
January 2.000 0.875
February 1.625 1.125
March 1.250 1.375
April 0.875 1.625
May 0.750 1.500
June 0.750 1.500
July 0.750 1.500
August 0.625 1.250
September 0.750
October 0.750
November 0.875
December 0.875
Average 0.990 NA NA NA NA NA NA NA NA 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 (Oct 1981) and the lowest rate is 0.625 percent (Aug 2020). See table for 1937-1999 interest rates.