To explore whether the volatility of interest rate will affect the credit risk of commercial bank loans.In liberalization of interest rate，as interest rate volatility increased，uncertainty of interest rate increase，which could bring repricing risk，basis risk，yield curve risk and option risk.To avoid the above risks，the bank prefers short term loam.Therefore，the mode of corporate borrowings is continued short for long loan thus the enterprises are more likely to meet servicing crisis，and increases risk of bank credit.According to the annual panel data of 16 listed commercial banks in China from 2007 to 2015，statistical result shows that interest rate volatility is significantly positively correlated with the credit risk of commercial banks.Therefore，commercial banks to interest rate risk to manage credit risk.