New York State Pre- and Post-Judgment Interest Rates
The State of New York is home to a wide variety of legal and financial regulations, including the interest rates applicable to pre- and post-judgment awards. Pre-judgment interest is an amount awarded by a court as damages for losses suffered by a plaintiff prior to the date of judgment. Post-judgment interest is an additional financial award that can be granted following judgment in order to compensate for costs associated with delays in payment from the defendant. In New York State, both pre- and post-judgment interest rates are set forth in Section 5004 of the Civil Practice Law & Rules (CPLR).
In accordance with CPLR 5004(a)(1), pre-judgment interest may be imposed at an annual rate equal to either nine percent or the federal reserve discount rate plus three percentage points, whichever is less.
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