This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.

Interest in Illinois

In Illinois, the statutory interest rate on a money judgment is 9% per year. This rate is established under 735 ILCS 5/2-1303, which governs post-judgment interest, and is further supported by 815 ILCS 205/2. The interest accrues from the date the judgment is entered until it is satisfied. The calculation is applied to the total amount of the judgment, including any costs that are part of the award. The official statute provides the precise legal framework, including any exceptions or adjustments that may apply. A step-by-step worked example below demonstrates how this rate is applied over time. To estimate the interest on a specific judgment, use the DocketMath calculator for an accurate result based on your case details.

Interest calculation example

For a Illinois this interest calculation, use the verified rate from the current rule packet: 9%. The verified packet cites 735 ILCS 5/2-1303, 815 ILCS 205/2 (https://www.ilga.gov/documents/legislation/ilcs/documents/073500050K2-1303.htm).

Example inputs:

• Principal: $10,000
• Days in calculation period: 365

Calculation:

• Convert the rate to a decimal: 9% = 0.09
• Multiply principal by the rate and the day fraction.
• Example interest: $900.00

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.

Interest calculation example

For a Illinois this interest calculation, use the verified rate from the current rule packet: 9%. The verified packet cites 735 ILCS 5/2-1303, 815 ILCS 205/2 (https://www.ilga.gov/documents/legislation/ilcs/documents/073500050K2-1303.htm).

Example inputs:

• Principal: $10,000
• Days in calculation period: 365

Calculation:

• Convert the rate to a decimal: 9% = 0.09
• Multiply principal by the rate and the day fraction.
• Example interest: $900.00

This example is generated from verified packet facts. Confirm compounding, judgment date, and case-specific accrual before relying on the amount.

Estimate your own result: every situation has exceptions that can change the outcome. Use the interest calculator to estimate your specific figure.

This page provides general legal information and calculation tools, not legal advice. DocketMath is not a law firm and does not provide legal representation, and using this site does not create an attorney-client relationship. Laws change and exceptions apply, so deadlines and amounts specific to your situation should be confirmed with a licensed attorney in your jurisdiction.