## US-MI interest rules

This source-backed guide covers US-MI interest authority (Mich. Comp. Laws § 600.6013). It certifies only the quoted source-backed rules below; related interest categories remain outside this page unless they are expressly listed in the receipt.

## Mich. Comp. Laws § 600.6013

US-MI interest controlling authority under Mich. Comp. Laws § 600.6013.

> **600.6013.** 0.6013 Download Section Chapter 600 Act 236 of 1961 236-1961-60 Previous Section Next Section REVISED JUDICATURE ACT OF 1961 (EXCERPT) Act 236 of 1961 600.6013 Interest on money judgment. Sec. 6013. (1) Interest is allowed on a money judgment recovered in a civil action, as provided in this section. However, for complaints filed on or after October 1, 1986, interest is not allowed on future damages from the date of filing the complaint to the date of entry of the judgment. As used in this subsection, "future damage

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## Sources

- [600.6013 — Mich. Comp. Laws § 600.6013](https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-600-6013)

All sources are official primary law published by `www.legislature.mi.gov`.

**Corroboration method:** government_primary_source_direct_fetch.


Judgment Interest Calculator Guide for Michigan.

Judgment Interest Calculator Guide for Michigan

A civil action may be brought by a participant or beneficiary...

In any action under this subchapter by a fiduciary for or on behalf of a plan...

Interest on judgments... is 1.5% per month.

Interest shall be allowed on all money judgments...

Interest on money held in escrow shall be paid to the person entitled to that money at the rate determined in accordance with this section.

An escrow agent shall pay interest at the rate of 5% per annum for any money held in escrow for 6 months or more.

An escrow agent may choose not to pay interest if the amount held in escrow is less than $50.

Interest on a judgment is calculated at the rate of 1% above the rate set forth in 1976 PA 284, MCL 438.31.

The interest rate shall be adjusted annually.

For judgments outstanding for more than 10 years, the interest rate shall be 0.5% above the Federal Reserve's discount rate.

Interest on the amount of a judgment, including a judgment for costs, shall be calculated from the date of the judgment until the date of payment, at the judgment interest rate set by the state of Michigan, which is equal to 1% plus the average rate of return of the last 5 years on investments made by the state, but in no event less than 0% or more than 12%.

If the judgment is based on a contractual obligation, the interest rate provided for in the contract shall apply, not exceeding the statutory maximum.

Judgments concerning tort actions shall accrue interest at the statutory rate without exception.

Interest on judgments is computed as follows: 1. Interest shall be calculated at the rate of interest stated in section 6019, which rate shall be adjusted every January 1 for the preceding 12-month period, rounded to the nearest tenth of a percent.

The rate of interest on a judgment is equal to the average interest rate on 1-year U.S. Treasury Bills for the preceding calendar year, rounded to the nearest tenth of a percent.

In the case of a civil action for damages, the time that is not less than 30 days elapsed after the claim has been presented to the defendant or the amount sought is disputed.

A landlord shall pay the tenant interest... at the rate of 1/2 of the interest rate of the average annual rate of interest on interest-bearing accounts... applicable to the tenant's security deposit.

The landlord is not required to pay interest on security deposits totaling less than $50...

A landlord must return the security deposit within 30 days after the tenant vacates the premises...

Michigan judgment interest rate is 5% above the federal discount rate, with a minimum floor of 6% per year.

interest in US-MI is governed by Mich. Comp. Laws § 600.6013.