The Internal Revenue Service releases the Applicable Federal Rates (AFR) monthly. These rates are used for various purposes, including tax calculations and calculating minimum interest rates on loans.
The AFRs are divided into three categories: short-term, mid-term, and long-term. The short-term rate applies to loans of less than three years, and the mid-term rate applies to three years or more. So, what is the AFR rate for November 2022? Let’s take a look.
Applicable Federal Rate in November 2022
In August 2022, AFR was 2.88%. But what will it be in November 2022? The AFR depends on the term and compounding frequency of the loan. Shorter terms result in higher annual interest, while longer-term loans have lower AFRs. The AFR changes each month, depending on macroeconomic and market conditions. The IRS publishes a document listing the AFR monthly and makes the rates available online to the public.
The Internal Revenue Service (IRS) has released the Applicable Federal Rate for November 2022, which is the minimum interest rate for certain types of loans and various tax purposes. The IRS publishes these rates for short-term, mid-term, and long-term instruments. Short-term instruments include demand loans, while mid-term instruments have maturities of up to three years. Long-term loans, however, are maturities of more than nine years. Here are the tables for the Applicable Federal Rate (AFR) in November 2022:
Short-Term Rates for November 2022
| Month | Annual | Semiann. | Quarterly | Monthly |
| November | 4.10% | 4.06% | 4.04% | 4.03% |
Mid-Term Rates for November 2022
| Month | Annual | Semiann. | Quarterly | Monthly |
| November | 3.97% | 3.93% | 3.91% | 3.90% |
Long-Term Rates for November 2022
| Month | Annual | Semiann. | Quarterly | Monthly |
| November | 3.92% | 3.88% | 3.86% | 3.85% |