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The Section 7520 rate for May 2016 is 1.8%, while the Applicable Federal Rates (AFRs) are as follows (Rev. Rul. 2016-11, IRB 2016-19):

Annual Semiannual Quarterly Monthly
Short-term (≤ 3 years) 0.67% 0.67% 0.67% 0.67%
Mid-term (> 3 years but ≤ 9 years) 1.43% 1.42% 1.42% 1.42%
Long-term (> 9 years) 2.24% 2.23% 2.22% 2.22%

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