Current interest rates.
As of July 1st, 2023 (applicable to loans approved on or after this date while these rates remain in effect):
Closed rate loans:
| Amortization | Full Term | Interest Rates – Term Loan | ||
|---|---|---|---|---|
| Interest Rate % | Ten-year Term % | Five-year Term % | Three-year Term % | |
| 1 to 5 years | 6.95 | — | 6.95 | 6.95 |
| 6 to 10 years | 6.70 | 6.70 | 6.80 | 6.95 |
| 11 to 15 years | 7.35 | 7.05 | 6.75 | 6.90 |
| 16 to 20 years | 7.70 | 7.40 | 6.70 | 6.90 |
Open repayment rate loans:
| Interest Rates | |
|---|---|
| Length (years) | Full Term |
| 1-5 | 8.25% |
| 6-8 | 8.80% |
| 9-10 | 9.05% |
| 11-15 | 9.45% |
| 16 – 20 | 9.75% |
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