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 | 6.50 | — | 6.50 | 6.50 |
| 6 to 10 years | 6.00 | 6.00 | 6.20 | 6.50 |
| 11 to 15 years | 6.40 | 6.25 | 6.15 | 6.45 |
| 16 to 20 years | 6.65 | 6.45 | 6.15 | 6.45 |
Open repayment rate loans:
| Interest Rates | |
|---|---|
| Length (years) | Full Term |
| 1-5 | 8.00% |
| 6-8 | 8.35% |
| 9-10 | 8.45% |
| 11-15 | 8.65% |
| 16 – 20 | 8.85% |
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