The interest rate is 3.5% a year. As of February 4, 2023, the Federal Reserve raised interest rates by 75 basis points, raised the benchmark interest rate to the range of 3.00% to 3.5%, and the interest rate level rose to a record high. The bank raised the interest rate of US dollar deposit, 1 year up to 3.5%. The interest rate increased by the Federal Reserve refers to the federal funds rate, which is a loan interest rate. The loan interest rate is also called the loan banking market. The ratio of loan interest to loan principal in the loan market.