Judgment Interest Calculator Guide for Illinois

Illinois interest rules

This source-backed guide covers Illinois judgment, prejudgment, and obligation interest under 735 ILCS 5/2-1303 and 815 ILCS 205. It certifies only the quoted source-backed rules below; related interest categories remain outside this page unless they are expressly listed in the receipt.

Judgment and consumer-debt judgment interest

Illinois judgments generally draw 9% annual interest from judgment until satisfaction. The rate is 6% when the judgment debtor is a listed governmental entity. Consumer-debt judgments of $25,000 or less draw 5% annual interest, and the statute defines both consumer debt and consumer-debt judgment.

Interest on judgment. (735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303) Sec. 2-1303. Interest on judgment. (a) Except as provided in subsection (b), judgments recovered in any court shall draw interest at the rate of 9% per annum from the date of the judgment until satisfied or 6% per annum when the judgment debtor is a unit of local government, as defined in Section 1 of Article VII of the Constitution, a school district, a community college district, or any other governmental entity. When judgment is entered upon any award, report or verdict, interest shall be computed at the above rate, from the time when made or rendered to the time of entering judgment upon the same, and included in the judgment. Interest shall be computed and charged only on the unsatisfied portion of the judgment as it exists from time to time. The judgment debtor may by tender of payment of judgment, costs and interest accrued to the date of tender, stop the further accrual of interest on such judgment notwithstanding the prosecution of an appeal, or other steps to reverse, vacate or modify the judgment. (b)(1) As used in this Section: "Consumer debt" means money or property, or the equivalent, due or owing, or alleged to be due or owing, from a natural person by reason of a transaction in which property, services, or money is acquired by that natural person primarily for personal, family, or household purposes. "Consumer debt judgment" means a judgment recovered in any court against one or more natural persons arising out of consumer debt. "Consumer debt judgment" does not include any compensation for bodily injury or death, nor any judgment entered where the debt is guaranteed by or contains a joint and several liability provision between a natural person and a business, whether or not that business is legally constituted under the laws of this State or any other state. (2) Notwithstanding subsection (a), consumer debt judgments of $25,000 or less shall draw interest from the date of the judgment until satisfied at the rate of 5% per annum. (3) The judgment debtor may, by tender of payment of judgment, costs, and interest accrued to the date of tender, stop the further accrual of interest on the consumer debt judgment, notwithstanding the prosecution of an appeal, or other steps to reverse, vacate, or modify the judgment. (4) This subsection applies to all consumer debt judgments entered into after the effective date of this amendatory Act of the 101st General Assembly. (c) In all actions brought to recover damages for personal injury or wrongful death resulting from or occasioned by the conduct of any other person or entity, whether by negligence, willful and wanton misconduct, intentional conduct, or strict liability of the other person or entity, the plaintiff shall recover prejudgment interest on all damages, except punitive damages, sanctions, statutory attorney's fees, and statutory costs, set forth in the judgment. Prejudgment interest shall begin to accrue on the date the action is filed. If the plaintiff voluntarily dismisses the action and refiles, the accrual of prejudgment interest shall be tolled from the date the action is voluntarily dismissed to the date the action is refiled. In entering judgment for the plaintiff in the action, the court shall add to the amount of the judgment interest calculated at the rate of 6% per annum on the amount of the judgment, minus punitive damages, sanctions, statutory attorney's fees, and statutory costs. If the judgment is greater than the amount of the highest written settlement offer made by the defendant within 12 months after the later of the effective date of this amendatory Act of the 102nd General Assembly or the filing of the action and not accepted by the plaintiff within 90 days after the date of the offer or rejected by the plaintiff, interest added to the amount of judgment shall be an amount equal to interest calculated at the rate of 6% per annum on the difference between the amount of the judgment, minus punitive damages, sanctions, statutory attorney's fees, and statutory costs, and the amount of the highest written settlement offer. If the judgment is equal to or less than the amount of the highest written settlement offer made by the defendant within 12 months after the later of the effective date of this amendatory Act of the 102nd General Assembly or the filing of the action and not accepted by the plaintiff within 90 days after the date of the offer or rejected by the plaintiff, no prejudgment interest shall be added to the amount of the judgment. For the purposes of this subsection, withdrawal of a settlement offer by defendant shall not be considered a rejection of the offer by the plaintiff. Notwithstanding any other provision of this subsection, prejudgment interest shall accrue for no longer than 5 years. Notwithstanding any other provision of law, neither the State, a unit of local government, a school district, community college district, nor any other governmental entity is liable to pay prejudgment interest in an action brought directly or vicariously against it by the injured party. For any personal injury or wrongful death occurring before the effective date of this amendatory Act of the 102nd General Assembly, the prejudgment interest shall begin to accrue on the later of the date the action is filed or the effective date of this amendatory Act of the 102nd General Assembly. (Source: P.A. 101-168, eff. 1-1-20; 102-6, eff. 7-1-21.)

Personal-injury and wrongful-death prejudgment interest

For qualifying personal-injury and wrongful-death actions, Illinois adds prejudgment interest at 6% per year on the judgment amount excluding punitive damages, sanctions, statutory attorney's fees, and statutory costs. The rule starts from filing, is affected by the highest written settlement offer, excludes listed governmental defendants, and is capped at five years of accrual.

Interest on judgment. (735 ILCS 5/2-1303) (from Ch. 110, par. 2-1303) Sec. 2-1303. Interest on judgment. (a) Except as provided in subsection (b), judgments recovered in any court shall draw interest at the rate of 9% per annum from the date of the judgment until satisfied or 6% per annum when the judgment debtor is a unit of local government, as defined in Section 1 of Article VII of the Constitution, a school district, a community college district, or any other governmental entity. When judgment is entered upon any award, report or verdict, interest shall be computed at the above rate, from the time when made or rendered to the time of entering judgment upon the same, and included in the judgment. Interest shall be computed and charged only on the unsatisfied portion of the judgment as it exists from time to time. The judgment debtor may by tender of payment of judgment, costs and interest accrued to the date of tender, stop the further accrual of interest on such judgment notwithstanding the prosecution of an appeal, or other steps to reverse, vacate or modify the judgment. (b)(1) As used in this Section: "Consumer debt" means money or property, or the equivalent, due or owing, or alleged to be due or owing, from a natural person by reason of a transaction in which property, services, or money is acquired by that natural person primarily for personal, family, or household purposes. "Consumer debt judgment" means a judgment recovered in any court against one or more natural persons arising out of consumer debt. "Consumer debt judgment" does not include any compensation for bodily injury or death, nor any judgment entered where the debt is guaranteed by or contains a joint and several liability provision between a natural person and a business, whether or not that business is legally constituted under the laws of this State or any other state. (2) Notwithstanding subsection (a), consumer debt judgments of $25,000 or less shall draw interest from the date of the judgment until satisfied at the rate of 5% per annum. (3) The judgment debtor may, by tender of payment of judgment, costs, and interest accrued to the date of tender, stop the further accrual of interest on the consumer debt judgment, notwithstanding the prosecution of an appeal, or other steps to reverse, vacate, or modify the judgment. (4) This subsection applies to all consumer debt judgments entered into after the effective date of this amendatory Act of the 101st General Assembly. (c) In all actions brought to recover damages for personal injury or wrongful death resulting from or occasioned by the conduct of any other person or entity, whether by negligence, willful and wanton misconduct, intentional conduct, or strict liability of the other person or entity, the plaintiff shall recover prejudgment interest on all damages, except punitive damages, sanctions, statutory attorney's fees, and statutory costs, set forth in the judgment. Prejudgment interest shall begin to accrue on the date the action is filed. If the plaintiff voluntarily dismisses the action and refiles, the accrual of prejudgment interest shall be tolled from the date the action is voluntarily dismissed to the date the action is refiled. In entering judgment for the plaintiff in the action, the court shall add to the amount of the judgment interest calculated at the rate of 6% per annum on the amount of the judgment, minus punitive damages, sanctions, statutory attorney's fees, and statutory costs. If the judgment is greater than the amount of the highest written settlement offer made by the defendant within 12 months after the later of the effective date of this amendatory Act of the 102nd General Assembly or the filing of the action and not accepted by the plaintiff within 90 days after the date of the offer or rejected by the plaintiff, interest added to the amount of judgment shall be an amount equal to interest calculated at the rate of 6% per annum on the difference between the amount of the judgment, minus punitive damages, sanctions, statutory attorney's fees, and statutory costs, and the amount of the highest written settlement offer. If the judgment is equal to or less than the amount of the highest written settlement offer made by the defendant within 12 months after the later of the effective date of this amendatory Act of the 102nd General Assembly or the filing of the action and not accepted by the plaintiff within 90 days after the date of the offer or rejected by the plaintiff, no prejudgment interest shall be added to the amount of the judgment. For the purposes of this subsection, withdrawal of a settlement offer by defendant shall not be considered a rejection of the offer by the plaintiff. Notwithstanding any other provision of this subsection, prejudgment interest shall accrue for no longer than 5 years. Notwithstanding any other provision of law, neither the State, a unit of local government, a school district, community college district, nor any other governmental entity is liable to pay prejudgment interest in an action brought directly or vicariously against it by the injured party. For any personal injury or wrongful death occurring before the effective date of this amendatory Act of the 102nd General Assembly, the prejudgment interest shall begin to accrue on the later of the date the action is filed or the effective date of this amendatory Act of the 102nd General Assembly. (Source: P.A. 101-168, eff. 1-1-20; 102-6, eff. 7-1-21.)

General creditor interest after money becomes due

Illinois allows creditors to receive 5% annual interest for listed money-after-due categories, including bonds, bills, promissory notes, other written instruments, money lent or advanced, liquidated account balances, money received for another and retained without the owner's knowledge, and money withheld by unreasonable and vexatious delay of payment.

815 ILCS 205/2. (815 ILCS 205/2) (from Ch. 17, par. 6402) Sec. 2. Creditors shall be allowed to receive at the rate of five (5) per centum per annum for all moneys after they become due on any bond, bill, promissory note, or other instrument of writing; on money lent or advanced for the use of another; on money due on the settlement of account from the day of liquidating accounts between the parties and ascertaining the balance; on money received to the use of another and retained without the owner's knowledge; and on money withheld by an unreasonable and vexatious delay of payment. In the absence of an agreement between the creditor and debtor governing interest charges, upon 30 days' written notice to the debtor, an assignee or agent of the creditor may charge and collect interest as provided in this Section on behalf of a creditor. (Source: P.A. 90-417, eff. 1-1-98.)

Written-contract interest ceiling

For written contracts, Illinois generally allows the parties to stipulate an annual percentage rate of 9% or less, subject to Section 4's exceptions and other applicable provisions.

815 ILCS 205/4. (815 ILCS 205/4) (from Ch. 17, par. 6404) Sec. 4. General interest rate. (1) Except as otherwise provided in Section 4.05, in all written contracts it shall be lawful for the parties to stipulate or agree that an annual percentage rate of 9%, or any less sum, shall be taken and paid upon every $100 of money loaned or in any manner due and owing from any person to any other person or corporation in this state, and after that rate for a greater or less sum, or for a longer or shorter time, except as herein provided. The maximum rate of interest that may lawfully be contracted for is determined by the law applicable thereto at the time the contract is made.

Not certified by this page

• This receipt does not certify Illinois ERISA interest, federal postjudgment interest, escrow interest, rental security-deposit interest, mortgage-escrow rules, public-utility rules, tax interest, statutory penalty schemes outside 735 ILCS 5/2-1303 and 815 ILCS 205, or every exemption listed in 815 ILCS 205/4.

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DocketMath's interest calculator can model interest scenarios once you identify the controlling jurisdiction, amount, rate type, and accrual date. Use the source panel for the verified source-backed rule.

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Sources

• Interest on judgment — Interest on judgment
• 815 ILCS 205/2 — Interest Act, Section 2
• 815 ILCS 205/4 — General interest rate

All sources are official primary law published by www.ilga.gov.

Corroboration method: Official Illinois Compiled Statutes sections from ILGA supply the judgment, prejudgment, general creditor, and written-contract interest rules. The sources cross-check the calculator's judgment and obligation categories without relying on secondary-source summaries.