What is the US average interest rate on public debt?

It measures the weighted average interest rate paid by the U.S. Department of the Treasury across all outstanding public debt securities, reflecting actual interest expenses rather than current market yields.

How often is the data published and how far back does it go?

The data is published monthly by the U.S. Department of the Treasury on Fiscal Data and historical series begin in 2001.

What security types are included in this table?

The table breaks down rates by marketable debt, such as Treasury bills, notes, bonds, TIPS, and floating-rate notes, alongside non-marketable debt like government account series and savings bonds.

How does this differ from current Treasury yields?

While Treasury yields reflect the cost of new borrowing in current markets, the average interest rate on public debt encompasses the entire portfolio, adjusting gradually as older legacy debt matures and is refinanced.

US Interest Rate on the Public Debt

Name: US Interest Rate on the Public Debt
Creator: U.S. Department of the Treasury (Monthly Statement of the Public Debt; Interest Expense on the Public Debt)
License: https://creativecommons.org/licenses/by/4.0/

Public debt in the United States is tracked across outstanding balances, average interest rates, and monthly interest costs by the United States Department of the Treasury, broken down by marketable and non-marketable securities including Treasury bills, notes, bonds, TIPS, and savings bonds, as well as holdings of government accounts.

Source: U.S. Department of the Treasury (Monthly Statement of the Public Debt; Interest Expense on the Public Debt)Last updated: Sep 22, 2026, 21:48Curated by Bui Thanh PhucAbout this data ↓

Indicator	08-2026	07-2026	06-2026	05-2026	04-2026	03-2026	02-2026	01-2026	12-2025	11-2025	10-2025	09-2025	08-2025	07-2025	06-2025	05-2025	04-2025	03-2025	02-2025	01-2025	12-2024	11-2024	10-2024	09-2024	08-2024	07-2024	06-2024	05-2024	04-2024	03-2024	02-2024	01-2024	12-2023	11-2023	10-2023	09-2023	08-2023
AVERAGE INTEREST RATE PAID (%/YEAR)1
Total interest-bearing debt2	3.49	3.45	3.41	3.35	3.34	3.33	3.32	3.32	3.32	3.35	3.36	3.36	3.37	3.35	3.3	3.29	3.29	3.28	3.28	3.28	3.28	3.3	3.3	3.32	3.35	3.33	3.28	3.27	3.23	3.22	3.2	3.15	3.11	3.1	3.05	2.97	2.92
Marketable debt6	3.48	3.44	3.41	3.39	3.37	3.37	3.36	3.35	3.36	3.38	3.39	3.41	3.42	3.4	3.38	3.36	3.35	3.35	3.35	3.34	3.34	3.36	3.36	3.39	3.42	3.39	3.34	3.33	3.3	3.28	3.26	3.21	3.17	3.16	3.1	3.02	2.96
Treasury Bills (under 1 year)	3.79	3.76	3.71	3.69	3.7	3.7	3.72	3.76	3.86	3.98	4.08	4.19	4.28	4.31	4.31	4.32	4.34	4.36	4.4	4.46	4.59	4.74	4.9	5.15	5.29	5.35	5.35	5.35	5.36	5.37	5.38	5.41	5.44	5.45	5.44	5.38	5.32
Treasury Notes (2-10 years)	3.35	3.31	3.28	3.25	3.23	3.21	3.19	3.17	3.16	3.13	3.12	3.11	3.09	3.07	3.05	3.01	2.99	2.96	2.93	2.89	2.85	2.79	2.77	2.73	2.69	2.66	2.59	2.56	2.5	2.42	2.39	2.34	2.27	2.24	2.19	2.11	2.08
Treasury Bonds (20-30 years)	3.45	3.44	3.43	3.41	3.4	3.39	3.38	3.37	3.36	3.35	3.34	3.33	3.31	3.31	3.3	3.28	3.27	3.25	3.24	3.24	3.22	3.21	3.21	3.2	3.19	3.18	3.16	3.16	3.14	3.13	3.12	3.11	3.09	3.09	3.07	3.05	3.05
Treasury Inflation-Protected Securities (TIPS)	1.13	1.13	1.09	1.08	1.07	1	0.99	0.98	0.98	0.97	0.96	0.91	0.9	0.89	0.88	0.87	0.85	0.81	0.8	0.79	0.8	0.78	0.77	0.75	0.74	0.73	0.72	0.7	0.69	0.67	0.66	0.65	0.64	0.62	0.61	0.59	0.58
Floating Rate Notes (FRN)	3.85	3.95	3.51	3.56	3.76	3.63	3.75	3.74	3.56	3.97	3.9	4.03	4.3	4.41	4.37	4.43	4.4	4.36	4.37	4.37	4.42	4.6	4.68	4.73	5.16	5.37	5.42	5.44	5.44	5.54	5.42	5.54	5.39	5.14	5.43	4.98	5.21
Federal Financing Bank (FFB)	2.38	2.38	2.38	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.39	2.43	2.43	2.43	2.43	2.43	2.43	2.43	2.43	2.43	2.43	2.43	2.43	2.51	2.51	2.51	2.51	2.51	2.51	2.51	2.51	2.51	2.51
Non-marketable debt8	3.56	3.46	3.4	3.2	3.19	3.15	3.16	3.18	3.16	3.2	3.19	3.17	3.19	3.15	2.98	2.99	3	3	3	3.05	3.05	3.06	3.05	3.04	3.07	3.09	3.03	2.99	2.98	2.97	2.94	2.92	2.88	2.89	2.88	2.79	2.77
Government Account Series (government trust funds)	3.56	3.46	3.4	3.19	3.18	3.15	3.15	3.17	3.15	3.19	3.18	3.16	3.17	3.14	2.97	2.98	2.98	2.99	2.98	3.03	3.03	3.04	3.03	3.02	3.05	3.07	3.01	2.97	2.96	2.95	2.92	2.9	2.86	2.88	2.87	2.77	2.75
Government Account Series - inflation-protected	1.39	1.39	1.39	1.35	1.35	1.35	1.35	1.3	1.31	1.31	1.31	1.24	1.24	1.24	1.24	1.24	1.24	1.24	1.24	1.18	1.19	1.19	1.19	1.13	1.13	1.13	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.14	1.06	1.06
State and local government series	3.35	3.35	3.34	3.32	3.31	3.32	3.25	3.3	3.35	3.42	3.43	3.46	3.53	3.54	3.48	3.52	3.5	3.47	3.43	3.4	3.6	3.76	3.81	3.72	3.83	3.85	3.73	3.68	3.58	3.52	3.4	3.38	3.37	3.35	3.23	3.09	2.81
U.S. savings bonds	3.15	3.15	3.16	3.17	3.18	3.22	3.25	3.29	3.33	3.38	3.42	3.4	3.38	3.37	3.35	3.32	3.31	3.34	3.37	3.39	3.42	3.46	3.49	3.49	3.49	3.48	3.48	3.48	3.48	3.44	3.41	3.38	3.35	3.32	3.29	3.25	3.22
Inflation-protected savings bonds	4.5	4.47	4.42	4.38	4.35	4.28	4.25	4.21	4.15	4.11	4.07	3.82	3.7	3.58	3.37	3.23	3.08	3.35	3.46	3.59	3.8	3.95	4.1	4.34	4.45	4.56	4.76	4.9	5.04	4.89	4.81	4.73	4.58	4.49	4.4	5.19	5.54
Domestic Series	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58	7.58
Foreign Series						0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Special Purpose Vehicle (SPV)	2.88	2.96	2.9	2.78	2.78	2.8	2.78	2.77	2.76	2.91	2.89	3	3.18	3.29	3.26	3.31	3.26	3.26	3.26	3.26	3.29	3.49	3.49	3.53	3.87	4.01	4.08	4.1	4.09	4.08	4.11	4.07	4.11	4.12	4.16	4.16	4.17
OUTSTANDING DEBT BY SECURITY TYPE AND HOLDER (USD billion)3
Public debt: total outstanding2
Marketable securities - total outstanding6	31,828	31,455.08	31,085.83	30,914.03	30,677.2	30,846.29	30,616.42	30,345.52	30,271.34	30,197.99	29,998.56	29,714.71	29,406.85	28,969.96	28,657.29	28,588.47	28,575.76	28,587.05	28,628.55	28,518.85	28,280.67	28,223.06	27,990.77	27,728.34	27,595.86	27,362.38	27,049.99	27,042.17	26,918.36	26,951.51	26,818.85	26,510.34	26,371.71	26,271.93	26,003.47	25,753.68	25,477.56
Treasury bills	7,248.07	6,988.89	6,690.69	6,758.78	6,621.99	6,819.56	6,808.11	6,595.66	6,547.26	6,723.29	6,593.19	6,397.05	6,369.01	5,995.91	5,784.06	6,003.02	6,060.02	6,155.95	6,367.95	6,379.92	6,186.88	6,389.76	6,186.78	6,004.76	6,121.8	5,915.78	5,765.83	5,866.78	5,866.76	6,062.87	6,011.24	5,780.24	5,675.78	5,671.15	5,457	5,260.41	5,073.92
Treasury notes	16,218.42	16,171.71	16,060.86	15,942.72	15,937.92	15,879.39	15,767.16	15,719.11	15,636.87	15,497.85	15,505.68	15,392.48	15,211.3	15,206.99	15,073.6	14,897.65	14,907.75	14,813.89	14,736.01	14,691.03	14,565.43	14,409.5	14,443.63	14,343.43	14,192.21	14,226.99	14,046.71	14,013.77	13,994.85	13,863.2	13,829.79	13,831.18	13,758.2	13,729.61	13,762.31	13,729.49	13,702.55
Treasury bonds	5,525.28	5,488.72	5,459.45	5,412.1	5,383.16	5,348.62	5,298.56	5,271.41	5,249	5,198.8	5,172.7	5,142.56	5,094.93	5,076.63	5,040.15	4,987.27	4,957.46	4,919.91	4,886.18	4,850.21	4,811.67	4,759.3	4,743.83	4,708.31	4,657.56	4,631.8	4,581.06	4,560.36	4,515.27	4,467.06	4,445.08	4,401.55	4,354.55	4,333.57	4,292.93	4,246.93	4,226.93
Treasury Inflation-Protected Securities (TIPS)	2,152.66	2,150.19	2,164.94	2,118.03	2,079.73	2,090.28	2,062.16	2,055.02	2,133.88	2,101.72	2,078.66	2,088.02	2,065	2,051.83	2,081.04	2,049.67	2,027.65	2,036.18	2,005.29	1,995.39	2,078.07	2,053.87	2,033.91	2,051.74	2,032.2	2,023.71	2,053.87	2,025.75	1,995.64	1,999.33	1,973.69	1,966.31	2,006.22	1,986.66	1,966.29	1,935.81	1,917.12
Floating rate notes	679.98	651.98	706.3	678.32	650.32	704.34	676.35	700.23	700.23	672.23	644.23	690.51	662.51	634.51	674.35	646.35	618.36	656.61	628.61	597.79	634.11	606.11	578.11	615.58	587.58	559.58	598.01	570.01	540.35	553.57	553.57	525.57	571.45	545.45	519.45	575.56	551.56
Federal Financing Bank	3.59	3.59	3.59	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	5.49	5.49	5.49	5.49	5.49	5.49	5.49	5.49	5.49	5.49
Nonmarketable securities - total outstanding5	8,347.64	8,316.54	8,376.57	8,293.73	8,290.63	8,219.13	8,153.39	8,175.84	8,242.67	8,198.22	8,041.53	7,922.84	7,867.42	7,947.02	7,554.18	7,627.35	7,637.8	7,627.26	7,590.37	7,701.35	7,937.94	7,864.3	7,960.83	7,736.34	7,660.2	7,742.39	7,781.64	7,624.95	7,698.63	7,635.03	7,652.23	7,680.81	7,629.79	7,606.75	7,696.11	7,413.65	7,436.59
Government Account Series (trust funds)	8,106.16	8,067.52	8,123.39	8,039.72	8,038.68	7,972.86	7,916.31	7,932.69	7,993.98	7,949.97	7,788.37	7,666.47	7,611.77	7,688.7	7,295.26	7,365.86	7,374.74	7,367.22	7,331.57	7,440.35	7,661.96	7,579.27	7,666.17	7,444.52	7,372.48	7,455.06	7,499.79	7,340.53	7,417.13	7,355.25	7,374.08	7,400.12	7,344.73	7,315.09	7,402.41	7,117.28	7,148.95
State and Local Government Series	78.93	85.73	89.37	89.87	87.12	81.11	71.56	77.36	82.39	81.46	85.1	87.96	86.8	89.03	88.69	90.79	90.45	86.47	84.26	85.35	98.61	106.9	114.34	110.93	106.18	104.85	98.28	100.06	93.94	91.43	88.71	89.94	91.54	94.66	93	94.17	84.67
U.S. savings securities	146.94	147.47	147.9	148.28	148.51	148.8	149.2	149.53	149.99	150.39	150.65	150.99	151.49	152.02	152.74	153.38	154.11	155.09	156.06	157.15	158.71	159.6	160.5	161.14	161.84	162.84	163.91	164.81	165.98	166.87	168.01	169.34	171.96	172.99	174.13	175.7	176.64
Domestic Series	10.71	10.71	10.71	10.71	11.04	11.04	11.04	11.04	11.05	11.27	12.28	12.3	12.32	12.31	12.56	12.58	13.74	13.73	13.72	13.71	13.77	13.76	15.03	15.14	15.17	15.16	15.19	15.17	17.26	17.24	17.21	17.19	17.29	19.87	22.46	22.42	22.38
Other nonmarketable	4.9	5.1	5.19	5.16	5.27	5.33	5.27	5.22	5.26	5.13	5.14	5.12	5.04	4.96	4.92	4.75	4.76	4.76	4.76	4.79	4.89	4.78	4.8	4.62	4.52	4.48	4.48	4.38	4.32	4.24	4.22	4.23	4.26	4.14	4.11	4.08	3.95
Public debt: held by the public2
Marketable securities - held by the public5	31,807.14	31,434.08	31,065.29	30,894.55	30,656.11	30,825.66	30,596.89	30,325.34	30,250.94	30,178.12	29,978.39	29,695	29,387.95	28,950.46	28,638.02	28,569.28	28,555.94	28,566.88	28,608.74	28,498.91	28,261.36	28,203.79	27,972.37	27,710.18	27,577.83	27,344.16	27,031.8	27,023.02	26,898.86	26,932.78	26,800.19	26,491.07	26,352.88	26,252.54	25,984.4	25,734.88	25,458.71
Treasury bills	7,247.86	6,988.23	6,690.12	6,758.27	6,621.26	6,819.22	6,807.15	6,594.91	6,546.56	6,722.89	6,592.81	6,396.63	6,368.51	5,995.42	5,783.52	6,002.41	6,059.33	6,155.07	6,367.08	6,378.99	6,186.18	6,388.88	6,185.97	6,004.14	6,120.98	5,914.85	5,764.9	5,865.79	5,865.41	6,061.74	6,010.14	5,779.02	5,674.83	5,670.15	5,455.83	5,259.33	5,072.86
Treasury notes	16,214.68	16,167.59	16,057	15,939.43	15,933.81	15,875.37	15,763.63	15,715.25	15,632.49	15,493.45	15,500.65	15,387.39	15,206.69	15,201.93	15,068.8	14,893.01	14,902.68	14,808.51	14,730.53	14,685.34	14,559.75	14,404.2	14,438.25	14,338.03	14,186.94	14,221.62	14,041.38	14,008.4	13,989.12	13,858.61	13,825.17	13,826.19	13,753.53	13,724.68	13,757.65	13,724.9	13,697.86
Treasury bonds	5,512.73	5,476.9	5,447.71	5,401.06	5,371.74	5,337.26	5,288.43	5,260.74	5,238.54	5,188.59	5,162.83	5,133.12	5,085.9	5,067.45	5,031	4,978.52	4,948.64	4,911.27	4,877.98	4,842.16	4,803.94	4,751.42	4,736.83	4,701.36	4,650.82	4,625.03	4,574.27	4,553.64	4,508.91	4,460.17	4,438.17	4,394.5	4,347.39	4,326.51	4,286.04	4,240.16	4,220.2
Treasury Inflation-Protected Securities (TIPS)	2,151.96	2,149.43	2,164.19	2,117.55	2,079.05	2,089.59	2,061.47	2,054.34	2,133.18	2,101.04	2,077.99	2,087.36	2,064.36	2,051.16	2,080.38	2,049.01	2,026.97	2,035.49	2,004.6	1,994.68	2,077.44	2,053.25	2,033.27	2,051.11	2,031.56	2,023.11	2,053.28	2,025.21	1,995.11	1,998.75	1,973.19	1,965.83	2,005.72	1,985.76	1,965.44	1,934.95	1,916.26
Floating rate notes	679.92	651.93	706.27	678.24	650.25	704.22	676.21	700.09	700.18	672.15	644.1	690.5	662.5	634.5	674.33	646.33	618.32	656.55	628.56	597.74	634.04	606.04	578.04	615.53	587.54	559.54	597.98	569.98	540.3	553.52	553.53	525.53	571.43	545.43	519.44	575.54	551.54
Nonmarketable securities - held by the public1	607.85	611.78	616.02	620.82	616.38	605.52	590.08	593.78	595.77	595.99	592.32	582.76	580.58	580.88	315.48	383.18	296.72	342.63	305.67	412.6	575.64	587.42	599.78	597.13	590.17	586.35	581.09	583.79	582.1	578.67	580.1	580.79	585.63	591.28	591.82	595.26	585.34
Government Account Series (trust funds)	366.37	362.76	362.84	366.81	364.43	359.24	353	350.63	347.09	347.74	339.16	326.4	324.93	322.56	56.56	121.69	33.66	82.58	46.87	151.59	299.66	302.38	305.12	305.31	302.45	299.02	299.24	299.37	300.6	298.9	301.95	300.09	300.58	299.62	298.12	298.89	297.7
Public debt: intragovernmental holdings2
Marketable securities - intragovernmental holdings6	20.86	20.99	20.54	19.49	21.1	20.63	19.53	20.18	20.4	19.86	20.18	19.71	18.89	19.5	19.27	19.19	19.82	20.17	19.81	19.94	19.31	19.27	18.4	18.16	18.02	18.22	18.19	19.15	19.51	18.73	18.66	19.26	18.82	19.39	19.07	18.8	18.85
Treasury bills	0.21	0.66	0.57	0.5	0.72	0.34	0.96	0.75	0.7	0.4	0.39	0.41	0.5	0.49	0.54	0.62	0.68	0.88	0.88	0.94	0.7	0.88	0.8	0.62	0.82	0.93	0.93	0.99	1.35	1.13	1.1	1.22	0.96	0.99	1.16	1.08	1.06
Treasury notes	3.74	4.12	3.85	3.29	4.11	4.02	3.52	3.86	4.39	4.41	5.03	5.09	4.62	5.06	4.8	4.63	5.07	5.38	5.49	5.69	5.68	5.3	5.38	5.4	5.27	5.36	5.33	5.37	5.73	4.59	4.62	4.99	4.68	4.93	4.66	4.58	4.69
Treasury bonds	12.56	11.82	11.74	11.04	11.42	11.37	10.14	10.67	10.46	10.2	9.86	9.44	9.02	9.18	9.15	8.75	8.82	8.65	8.19	8.05	7.73	7.88	6.99	6.94	6.74	6.77	6.79	6.72	6.36	6.89	6.91	7.05	7.16	7.05	6.88	6.76	6.73
Treasury Inflation-Protected Securities (TIPS)	0.7	0.76	0.75	0.48	0.68	0.68	0.69	0.68	0.71	0.68	0.67	0.66	0.64	0.66	0.67	0.66	0.68	0.69	0.69	0.71	0.62	0.63	0.64	0.63	0.63	0.61	0.59	0.54	0.53	0.58	0.5	0.47	0.5	0.89	0.86	0.87	0.86
Floating rate notes	0.06	0.04	0.04	0.08	0.07	0.12	0.13	0.14	0.06	0.08	0.13	0.01	0.02	0.02	0.02	0.02	0.04	0.06	0.05	0.05	0.07	0.07	0.07	0.05	0.04	0.04	0.03	0.03	0.05	0.05	0.04	0.03	0.03	0.03	0.01	0.02	0.02
Federal Financing Bank	3.59	3.59	3.59	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.09	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	4.51	5.49	5.49	5.49	5.49	5.49	5.49	5.49	5.49	5.49	5.49
Nonmarketable securities - intragovernmental holdings1	7,739.79	7,704.76	7,760.55	7,672.9	7,674.25	7,613.61	7,563.31	7,582.06	7,646.89	7,602.23	7,449.21	7,340.08	7,286.84	7,366.14	7,238.71	7,244.16	7,341.08	7,284.63	7,284.71	7,288.75	7,362.3	7,276.88	7,361.05	7,139.2	7,070.03	7,156.04	7,200.55	7,041.16	7,116.53	7,056.35	7,072.13	7,100.03	7,044.15	7,015.47	7,104.29	6,818.39	6,851.25
Government Account Series (trust funds)	7,739.79	7,704.76	7,760.55	7,672.9	7,674.25	7,613.61	7,563.31	7,582.06	7,646.89	7,602.23	7,449.21	7,340.08	7,286.84	7,366.14	7,238.71	7,244.16	7,341.08	7,284.63	7,284.71	7,288.75	7,362.3	7,276.88	7,361.05	7,139.2	7,070.03	7,156.04	7,200.55	7,041.16	7,116.53	7,056.35	7,072.13	7,100.03	7,044.15	7,015.47	7,104.29	6,818.39	6,851.25
MONTHLY INTEREST COST (USD billion)1
Interest expense on public issues, by accounting component4
Accrued interest expense7
Treasury notes	44.31	43.85	41.95	42.94	41.25	42.18	37.76	41.26	40.65	38.92	39.72	37.9	38.67	38.17	36.35	37.11	35.47	36.08	32.03	34.7	33.86	32.13	32.45	30.79	31.24	30.54	28.77	28.94	27.28	27.49	25.07	26.09	25.47	24	24.05	22.64	22.74
Treasury bonds	15.73	15.68	15.04	15.41	14.82	15.16	13.5	14.78	14.63	13.93	14.2	13.61	13.98	13.9	13.3	13.63	13.07	13.36	11.88	12.98	12.83	12.25	12.5	11.97	12.26	12.14	11.6	11.87	11.37	11.62	10.7	11.26	11.13	10.59	10.78	10.32	10.61
TIPS - coupon interest	2.18	2.21	0.41	3.84	2	2.03	2.06	1.65	1.44	2.48	1.94	1.21	2.52	1.86	1.4	2.19	1.72	1.74	1.52	1.69	1.52	1.82	1.65	1.36	1.82	0.77	2.33	1.54	0.74	2.17	1.33	1.44	1.33	1.32	1.2	1.38	1.28
TIPS - inflation compensation	-6.8	13.68	19.57	20.04	9.66	7.29	-0.99	-8.67	5.57	4.95	5.85	3.69	6.46	4.36	6.47	4.56	9.07	12.73	0.64	-0.98	2.51	3.1	1.68	2.33	0.74	4.05	7.52	12.91	12.9	9.61	-1.99	-3.91	-0.52	5.01	8.43	3.62	6.12
Floating rate notes	2.21	2.39	2.18	2.13	2.23	2.23	1.91	2.27	2.23	2.15	2.39	2.31	2.4	2.58	2.41	2.39	2.41	2.4	2.07	2.42	2.38	2.25	2.51	2.48	2.56	2.8	2.61	2.55	2.63	2.59	2.32	2.65	2.56	2.39	2.71	2.52	2.5
State and Local Government Series	0.22	0.24	0.24	0.24	0.23	0.22	0.18	0.22	0.23	0.23	0.25	0.25	0.24	0.25	0.25	0.26	0.26	0.25	0.22	0.26	0.32	0.34	0.36	0.34	0.34	0.32	0.29	0.29	0.27	0.26	0.24	0.26	0.25	0.25	0.25	0.21	0.19
Domestic Series	0	0	0	0	0	0	0	0	0	0	0	0	0	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.02	0.02	0.01	0.02	0.02	0.02	0.02	0.02	0.03	0.04	0.04	0.04	0.04
Amortized discount6
Treasury bills	22.59	21.17	20.22	20.57	20.18	21.29	18.99	20.79	21.85	21.76	22.4	22.06	22.24	21	20.53	21.82	21.53	22.95	21.47	23.54	24.76	24.42	25.42	25.56	26.61	25.91	25.08	26.05	25.72	27.03	24.69	25.7	25.63	24.38	24.07	22.23	21.51
Treasury notes	0.96	0.96	0.92	0.95	0.91	0.94	0.85	0.94	0.92	0.88	0.91	0.87	0.9	0.9	0.87	0.89	0.87	0.89	0.8	0.87	0.86	0.82	0.85	0.82	0.85	0.85	0.82	0.85	0.82	0.83	0.78	0.83	0.83	0.8	0.83	0.79	0.82
Treasury bonds	0.25	0.25	0.24	0.25	0.24	0.25	0.22	0.24	0.24	0.23	0.24	0.23	0.24	0.24	0.23	0.24	0.23	0.24	0.21	0.23	0.23	0.22	0.22	0.21	0.22	0.22	0.21	0.22	0.21	0.22	0.2	0.21	0.21	0.2	0.21	0.2	0.2
TIPS	0.18	0.18	0.16	0.16	0.15	0.16	0.14	0.16	0.15	0.15	0.15	0.15	0.15	0.15	0.15	0.16	0.15	0.16	0.14	0.15	0.15	0.14	0.14	0.14	0.14	0.15	0.15	0.15	0.14	0.14	0.13	0.14	0.14	0.13	0.13	0.12	0.12
Floating rate notes	0	0.01	0.01	0.01	0.01	0.01	0	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Domestic Series bonds	0.05	0.05	0.05	0.05	0.05	0.05	0.04	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.04	0.05	0.04	0.05	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.04
Amortized premium4
Treasury notes	-0.14	-0.14	-0.13	-0.14	-0.14	-0.14	-0.13	-0.14	-0.14	-0.13	-0.14	-0.13	-0.13	-0.13	-0.13	-0.13	-0.13	-0.12	-0.11	-0.12	-0.12	-0.12	-0.13	-0.12	-0.12	-0.12	-0.11	-0.12	-0.11	-0.12	-0.11	-0.11	-0.11	-0.1	-0.1	-0.1	-0.1
Treasury bonds	-0.11	-0.11	-0.11	-0.11	-0.11	-0.11	-0.1	-0.11	-0.11	-0.11	-0.11	-0.1	-0.11	-0.11	-0.1	-0.11	-0.1	-0.11	-0.1	-0.11	-0.11	-0.1	-0.11	-0.1	-0.1	-0.1	-0.1	-0.1	-0.1	-0.1	-0.09	-0.1	-0.09	-0.09	-0.09	-0.09	-0.09
TIPS	-0.27	-0.27	-0.27	-0.28	-0.29	-0.33	-0.3	-0.34	-0.34	-0.33	-0.36	-0.37	-0.38	-0.39	-0.37	-0.39	-0.38	-0.41	-0.37	-0.41	-0.41	-0.4	-0.41	-0.4	-0.41	-0.41	-0.4	-0.41	-0.4	-0.42	-0.39	-0.42	-0.41	-0.4	-0.41	-0.4	-0.41
Floating rate notes	-0.01	-0.01	-0	-0	-0	-0	-0	-0.01	-0.01	-0.01	-0.01	-0	-0.01	-0.01	-0	-0	-0.01	-0.01	-0	-0.01	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0
Savings bonds4
Series E and EE	0.07	0.07	0.07	0.07	0.08	0.08	0.08	0.09	0.09	0.09	0.08	0.08	0.08	0.08	0.08	0.08	0.14	0.12	0.12	0.14	0.16	0.14	0.13	0.12	0.13	0.13	0.14	0.14	0.14	0.14	0.14	0.16	0.2	0.16	0.14	0.14	0.14
Series I	0.31	0.31	0.31	0.31	0.3	0.3	0.29	0.29	0.28	0.28	0.26	0.25	0.24	0.24	0.24	0.24	0.26	0.27	0.28	0.3	0.31	0.32	0.34	0.35	0.36	0.37	0.37	0.37	0.36	0.36	0.35	0.38	0.4	0.41	0.47	0.51	0.54
Series H and HH	0	0	0	0	0	0	-0	0	0	0	0	-0	0	-0	0	0	0	0	0	0	0	0	0	0	-0	0	0	0	0	0	0	0	0	0	0	0	0
Other	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	-0

Latest reading

Total interest-bearing debt stood at 3.49 %/year in Aug 2026. That is unchanged from Jul 2026 and +0.1 pp from a year earlier. The series on this page is monthly and runs from Jan 2001 to Aug 2026. Source: U.S. Department of the Treasury (Monthly Statement of the Public Debt; Interest Expense on the Public Debt).

Latest: 3.49 %/year; Aug 2026
vs previous period: 0.0 pp; Jul 2026
vs a year earlier: +0.1 pp

About this data

Frequently asked questions

What is the US average interest rate on public debt?: It measures the weighted average interest rate paid by the U.S. Department of the Treasury across all outstanding public debt securities, reflecting actual interest expenses rather than current market yields.
How often is the data published and how far back does it go?: The data is published monthly by the U.S. Department of the Treasury on Fiscal Data and historical series begin in 2001.
What security types are included in this table?: The table breaks down rates by marketable debt, such as Treasury bills, notes, bonds, TIPS, and floating-rate notes, alongside non-marketable debt like government account series and savings bonds.
How does this differ from current Treasury yields?: While Treasury yields reflect the cost of new borrowing in current markets, the average interest rate on public debt encompasses the entire portfolio, adjusting gradually as older legacy debt matures and is refinanced.