Statutory Interest Calculator - New York

CPLR § 5004 sets nine percent (9%) per year simple interest for most judgments and statutory interest contexts in 2026. Qualifying consumer debt judgments against natural persons use two percent (2%) per year under the same section after April 2022 reforms. Pre-judgment contract interest is mandatory under CPLR § 5001 when prerequisites are met, typically at nine percent for commercial claims. Rates are fixed by statute—not market-indexed. Identify consumer versus commercial category before quoting a single percentage in demand letters or garnishment payoffs. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Pre-judgment contract interest under CPLR § 5001 generally runs from the date of breach or when payment was due and wrongfully withheld. Post-judgment interest under CPLR § 5003 begins from the date of entry of the judgment on unpaid principal. The two percent consumer rate under § 5004 applies post-entry only for qualifying judgments—do not assume it applied prejudgment. Build a timeline of breach, filing, entry, and partial payments. Partial credits reduce principal prospectively. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

If your contract specifies a permissible rate, that rate may govern prejudgment interest subject to usury and CPLR requirements. CPLR § 5001 makes interest mandatory on qualifying contract claims even when parties omitted an APR—often filling the gap with § 5004's nine percent framework. A negotiated rate, mandatory § 5001 interest, and post-judgment § 5004 accrual are distinct paths. Courts will not apply nine percent statutory interest when a valid contract rate controls unless the clause fails. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

CPLR § 5004 and § 5001 are expressed as simple annual rates on principal in routine planning. New York does not mandate compounding in the default statutory framework. Contracts may provide compound terms if lawful. This calculator uses simple interest only. The two percent consumer rate and nine percent default both apply to principal without capitalizing interest into principal each period unless an order says otherwise. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Pre-judgment interest under CPLR § 5001 compensates for delay before entry—mandatory on qualifying contracts from breach. Post-judgment interest under CPLR § 5003 and § 5004 runs on unpaid judgment principal after entry at nine percent or two percent consumer debt. Start dates and categories differ. A demand letter citing § 5001 is not interchangeable with post-judgment enforcement citing § 5003 without re-screening the consumer rate. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.

Use simple interest: Interest equals principal times rate times years. Twenty-five thousand dollars at nine percent for eighteen months equals three thousand three hundred seventy-five dollars ($25,000 × 0.09 × 1.5). At two percent consumer rate, seven hundred fifty dollars. TheLegalCalc multiplies your inputs. Verify CPLR § 5004 category and § 5001 prejudgment window with a New York attorney before filing or enforcing. Document principal, rate category, payment chronology, and governing statute on every demand letter or payoff quote. Partial payments reduce the principal base prospectively under simple interest math. This calculator provides educational estimates only and does not replace advice from a licensed attorney familiar with your court, claim type, and docket. Verify official statute text and court rules before filing, settling, or enforcing.