Interest Rate on Judgments
Administrator sets 2020 judgment interest rate
The North Dakota State Court Administrator has set the judgment interest rate for 2020 at 8 percent.
The administrator is required by law to annually determine the judgment interest rate prior to Dec. 20. The rate will be applied to all judgments entered in 2020.
The judgment interest rate is calculated by using the prime rate as reported on the first Monday in December, plus three percentage points. The result must be rounded up to the next one-half percentage point.
The prime rate on Dec. 3rd was 4.75 percent. Application of the judgment rate formula yielded the 2020 judgment interest rate of 8 percent.
Interest Rates for Previous Years
| Year | Interest Rate |
|---|---|
| 2020 | 8.0% |
| 2019 | 8.5% |
| 2018 | 7.5% |
| 2017 | 6.5% |
| 2016 | 6.5% |
| 2015 | 6.5% |
| 2014 | 6.5% |
| 2013 | 6.5% |
| 2012 | 6.5% |
| 2011 | 6.5% |
| 2010 | 6.5% |
| 2009 | 7.0% |
| 2008 | 10.5% |
| 2007 | 11.5% |
| 2006 | 10.0% |
| 2005 and Previous | 12% |