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 Maine

In Maine, the statutory rate of interest on civil judgments is 10.92%. This rate is set by 14 M.R.S. § 1602-C and applies to judgments entered on or after the effective date of that statute. The rate is calculated annually and is not a flat rate applied over the life of the judgment. The statute provides the method for computing post-judgment interest, and the official source linked above contains the precise formula and any applicable exceptions. For pre-judgment interest, different rules under 14 M.R.S. § 1602-B and 9-A M.R.S. § 1-301 may govern. To estimate the interest on a specific judgment amount, use the DocketMath calculator, which applies the statutory formula to your particular facts.

Interest calculation example

For a Maine this interest calculation, use the verified rate from the current rule packet: 10.92%. The verified packet cites 14 M.R.S. § 1602-B, § 1602-C; 9-A M.R.S. § 1-301 (https://legislature.maine.gov/statutes/14/title14sec1602-C.html).

Example inputs:

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

Calculation:

• Convert the rate to a decimal: 10.92% = 0.1092
• Multiply principal by the rate and the day fraction.
• Example interest: $1,092.00

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 Maine this interest calculation, use the verified rate from the current rule packet: 10.92%. The verified packet cites 14 M.R.S. § 1602-B, § 1602-C; 9-A M.R.S. § 1-301 (https://legislature.maine.gov/statutes/14/title14sec1602-C.html).

Example inputs:

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

Calculation:

• Convert the rate to a decimal: 10.92% = 0.1092
• Multiply principal by the rate and the day fraction.
• Example interest: $1,092.00

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.