diff --git a/src/installments/split.ts b/src/installments/split.ts
index 316c44e..cae1995 100644
--- a/src/installments/split.ts
+++ b/src/installments/split.ts
@@ -3,9 +3,11 @@ import expWad from "../fixed-point-math/expWad.js";
 import lnWad from "../fixed-point-math/lnWad.js";
 import fixedRate, { INTERVAL, type IRMParameters } from "../interest-rate-model/fixedRate.js";
 import abs from "../vector/abs.js";
+import add from "../vector/add.js";
 import fill from "../vector/fill.js";
 import mean from "../vector/mean.js";
 import mulDivUp from "../vector/mulDivUp.js";
+import powDiv from "../vector/powDiv.js";
 import sub from "../vector/sub.js";
 import sum from "../vector/sum.js";
 
@@ -23,6 +25,7 @@ export default function splitInstallments(
     power = (WAD * 60n) / 100n,
     scaleFactor = (WAD * 95n) / 100n,
     tolerance = WAD / 1_000_000_000n,
+    rateTolerance = 10_000n,
     maxIterations = 66_666n,
   } = {},
 ) {
@@ -59,7 +62,23 @@ export default function splitInstallments(
     error = mean(mulDivUp(abs(diffs), weight, WAD));
   } while (error >= tolerance);
 
-  return { amounts, installments, rates };
+  const maturityFactors = rates.map(
+    (_, index) =>
+      (BigInt(firstMaturity + index * INTERVAL - timestamp) * WAD) /
+      BigInt(timestamp + maxPools * INTERVAL - (timestamp % INTERVAL)),
+  );
+  let effectiveRate = rates[0]!; // eslint-disable-line @typescript-eslint/no-non-null-assertion
+  error = 0n;
+  do {
+    const aux = add(mulDivUp(maturityFactors, effectiveRate, WAD), WAD);
+    const f = sum(mulDivUp(installments, WAD, aux)) - totalAmount;
+    const fp = -sum(mulDivUp(mulDivUp(installments, maturityFactors, WAD), WAD, powDiv(aux, 2n, WAD)));
+    const rateDiff = (-f * WAD) / fp;
+    effectiveRate += rateDiff;
+    error = rateDiff < 0n ? -rateDiff : rateDiff;
+  } while (error >= rateTolerance);
+
+  return { amounts, installments, rates, effectiveRate };
 }
 
 function max(a: bigint, b: bigint) {
diff --git a/src/vector/add.ts b/src/vector/add.ts
new file mode 100644
index 0000000..064bad9
--- /dev/null
+++ b/src/vector/add.ts
@@ -0,0 +1,5 @@
+import map2 from "./map2.js";
+
+export default function add(a: readonly bigint[], b: readonly bigint[] | bigint) {
+  return map2(a, b, (a_, b_) => a_ + b_);
+}
diff --git a/src/vector/max.ts b/src/vector/max.ts
new file mode 100644
index 0000000..4aa48f1
--- /dev/null
+++ b/src/vector/max.ts
@@ -0,0 +1,3 @@
+export default function max(array: readonly bigint[]) {
+  return array.reduce((maxValue, value) => (value > maxValue ? value : maxValue)); // eslint-disable-line unicorn/no-array-reduce
+}
diff --git a/src/vector/min.ts b/src/vector/min.ts
new file mode 100644
index 0000000..44b7133
--- /dev/null
+++ b/src/vector/min.ts
@@ -0,0 +1,3 @@
+export default function min(array: readonly bigint[]) {
+  return array.reduce((minValue, value) => (value < minValue ? value : minValue)); // eslint-disable-line unicorn/no-array-reduce
+}
diff --git a/src/vector/powDiv.ts b/src/vector/powDiv.ts
new file mode 100644
index 0000000..e822cf4
--- /dev/null
+++ b/src/vector/powDiv.ts
@@ -0,0 +1,5 @@
+import map3 from "./map3.js";
+
+export default function powDiv(a: readonly bigint[], b: readonly bigint[] | bigint, c: readonly bigint[] | bigint) {
+  return map3(a, b, c, (a_, b_, c_) => a_ ** b_ / c_);
+}
diff --git a/test/installments.test.ts b/test/installments.test.ts
index 0b6ab38..747c28c 100644
--- a/test/installments.test.ts
+++ b/test/installments.test.ts
@@ -4,7 +4,9 @@ import { parseUnits } from "viem";
 
 import WAD, { SQ_WAD } from "../src/fixed-point-math/WAD";
 import { INTERVAL, type IRMParameters } from "../src/interest-rate-model/fixedRate";
+import max from "../src/vector/max";
 import mean from "../src/vector/mean";
+import min from "../src/vector/min";
 import mulDivDown from "../src/vector/mulDivDown";
 import sum from "../src/vector/sum";
 
@@ -28,7 +30,7 @@ describe("installments", () => {
           totalAmount = (totalAmount * totalAssets * (WAD - uGlobal)) / SQ_WAD;
           if (sum(uFixed) > 0n) uFixed = mulDivDown(uFixed, uGlobal - uFloating, sum(uFixed));
 
-          const { amounts, installments } = splitInstallments(
+          const { amounts, installments, rates, effectiveRate } = splitInstallments(
             totalAmount,
             totalAssets,
             firstMaturity,
@@ -43,6 +45,8 @@ describe("installments", () => {
           expect(amounts).toHaveLength(uFixed.length);
           expect(sum(amounts)).toBeGreaterThanOrEqual(totalAmount);
           expect(sum(amounts) - totalAmount).toBeLessThan(totalAmount / 100_000n);
+          expect(effectiveRate).toBeGreaterThanOrEqual(min(rates));
+          expect(effectiveRate).toBeLessThanOrEqual(max(rates));
 
           const avg = mean(installments);
           for (const installment of installments) {