> 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 Ohio

In Ohio, the statutory interest rate on a civil judgment is set at 7% per year under Ohio Rev. Code § 1343.03. This rate applies to judgments entered in state court unless a different rate is specified by contract or other law. Interest accrues from the date the judgment is rendered until fully paid. The statute does not specify a compounding method; instead, interest is typically calculated as simple interest on the principal amount. The official statute lists any applicable exceptions or special circumstances. To estimate the total interest on a specific judgment, use the DocketMath calculator, which applies the statutory formula based on the official source.

## Interest calculation example

For a Ohio this interest calculation, use the verified rate from the current rule packet: **7%**. The verified packet cites Ohio Rev. Code § 1343.03 (https://codes.ohio.gov/ohio-revised-code/section-1343.03).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 7% = 0.07
- Multiply principal by the rate and the day fraction.
- Example interest: **$700.00**

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 Ohio this interest calculation, use the verified rate from the current rule packet: **7%**. The verified packet cites Ohio Rev. Code § 1343.03 (https://codes.ohio.gov/ohio-revised-code/section-1343.03).

Example inputs:
- Principal: $10,000
- Days in calculation period: 365

Calculation:
- Convert the rate to a decimal: 7% = 0.07
- Multiply principal by the rate and the day fraction.
- Example interest: **$700.00**

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.

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_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._


In Ohio, the statutory interest rate on a civil judgment is set at 7% per year under Ohio Rev. Code § 1343.03. This rate applies to judgments entered in state

Interest in Ohio

Rate for a given judgment is FIXED on the date rendered under § 1343.03(B) — it does NOT float with annual recomputations. Historical series: CY2022=3%, CY2023=5%, CY2024=8%, CY2025=8%, CY2026=7%.

(a) Persons empowered to bring a civil action A civil action may be brought— (1) by a participant or beneficiary— (A) for the relief provided for in subsection (c) of this section, or (B) to recover benefits due to him under the terms of his plan , to enforce his rights under the terms of the plan , or to clarify his rights to future benefits under the terms of the plan ; (2) by the Secretary , or by a participant , beneficiary or fiduciary for appropriate relief under section 1109 of this title ;

(a) Persons empowered to bring a civil action A civil action may be brought— (1) by a participant or beneficiary— (A) for the relief provided for in subsection (c) of this section, or (B) to recover benefits due to him under the terms of his plan , to enforce his rights under the terms of the plan , or to clarify his rights to future benefits under the terms of the plan ;

Interest on escrow accounts shall accrue at the rate agreed upon by the parties, which may be established in the escrow agreement.

(A) The parties to a bond, bill, promissory note, or other instrument of writing for the forbearance or payment of money at any future time, may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually, except as authorized in division (B) of this section. (B) Any party may agree to pay a rate of interest in excess of the maximum rate provided in division (A) of this section when: (1) The original amount of the principal indebtedness stipulated in the bond, bill, promissory note, or other instrument of writing exceeds one hundred thousand dollars; (2) The payment is to a broker or dealer registered under the "Securities Exchange Act of 1934," 48 Stat. 881, 15 U.S.C. 78A, as amended, for carrying a debit balance in an account for a customer if such debit balance is payable on demand and secured by stocks, bonds or other securities;

Except as provided in divisions (C) and (D) of this section and subject to section 2325.18 of the Revised Code, interest on a judgment, decree, or order for the payment of money rendered in a civil action based on tortious conduct or a contract or other transaction, including, but not limited to a civil action based on tortious conduct or a contract or other transaction that has been settled by agreement of the parties, shall be computed from the date the judgment, decree, or order is rendered to the date on which the money is paid and shall be at the rate determined pursuant to section 5703.47 of the Revised Code that is in effect on the date the judgment, decree, or order is rendered. That rate shall remain in effect until the judgment, decree, or order is satisfied.

The creditor is entitled to interest at the rate per annum determined pursuant to section 5703.47 of the Revised Code, unless a written contract provides a different rate of interest in relation to the money that becomes due and payable, in which case the creditor is entitled to interest at the rate provided in that contract.

Except as provided in divisions (C) and (D) of this section and subject to section 2325.18 of the Revised Code, interest on a judgment, decree, or order for the payment of money rendered in a civil action based on tortious conduct or a contract or other transaction... shall be computed from the date the judgment, decree, or order is rendered to the date on which the money is paid and shall be at the rate determined pursuant to section 5703.47 of the Revised Code that is in effect on the date the judgment, decree, or order is rendered. That rate shall remain fixed until the judgment, decree, or order is satisfied.

(C)(1) If, upon motion of any party to a civil action that is based on tortious conduct, that has not been settled by agreement of the parties, and in which the court has rendered a judgment, decree, or order for the payment of money, the court determines at a hearing held subsequent to the verdict or decision in the action that the party required to pay the money failed to make a good faith effort to settle the case and that the party to whom the money is to be paid did not fail to make a good faith effort to settle the case, interest on the judgment, decree, or order shall be computed as follows: (a) In an action in which the party required to pay the money has admitted liability in a pleading, from the date the cause of action accrued to the date on which the order, judgment, or decree was rendered;

(A) In cases other than those provided for in sections 1343.01 and 1343.02 of the Revised Code, when money becomes due and payable upon any bond, bill, note, or other instrument of writing, upon any book account, upon any settlement between parties, upon all verbal contracts entered into, and upon all judgments, decrees, and orders of any judicial tribunal for the payment of money arising out of tortious conduct or a contract or other transaction, the creditor is entitled to interest at the rate per annum determined pursuant to section 5703.47 of the Revised Code, unless a written contract provides a different rate of interest in relation to the money that becomes due and payable, in which case the creditor is entitled to interest at the rate provided in that contract.

(A) The parties to a bond, bill, promissory note, or other instrument of writing for the forbearance or payment of money at any future time, may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually, except as authorized in division (B) of this section. (B) Any party may agree to pay a rate of interest in excess of the maximum rate provided in division (A) of this section when: (1) The original amount of the principal indebtedness stipulated in the bond, bill, promissory note, or other instrument of writing exceeds one hundred thousand dollars; (2) The payment is to a broker or dealer registered under the "Securities Exchange Act of 1934," 48 Stat. 881, 15 U.S.C. 78A, as amended, for carrying a debit balance in an account for a customer if such debit balance is payable on demand and secured by stocks, bonds or other securities.

(B) Any party may agree to pay a rate of interest in excess of the maximum rate provided in division (A) of this section when: (1) The original amount of the principal indebtedness stipulated in the bond, bill, promissory note, or other instrument of writing exceeds one hundred thousand dollars; (2) The payment is to a broker or dealer registered under the "Securities Exchange Act of 1934," 48 Stat. 881, 15 U.S.C. 78A, as amended, for carrying a debit balance in an account for a customer if such debit balance is payable on demand and secured by stocks, bonds or other securities;

(B) On the fifteenth day of October of each year, the tax commissioner shall determine the federal short-term rate. For purposes of any section of the Revised Code requiring interest to be computed at the rate per annum required by this section, the rate determined by the commissioner under this section, rounded to the nearest whole number per cent, plus three per cent, shall be the interest rate per annum used in making the computation for interest that accrues during the following calendar year. For the purposes of sections 5719.041 and 5731.23 of the Revised Code, references to the "federal short-term rate" are references to the federal short-term rate as determined by the tax commissioner under this section rounded to the nearest whole number per cent.

(B) Upon termination of the rental agreement any property or money held by the landlord as a security deposit may be applied to the payment of past due rent and to the payment of the amount of damages that the landlord has suffered by reason of the tenant's noncompliance with section 5321.05 of the Revised Code or the rental agreement. Any deduction from the security deposit shall be itemized and identified by the landlord in a written notice delivered to the tenant together with the amount due, within thirty days after termination of the rental agreement and delivery of possession.

(A) Any security deposit in excess of fifty dollars or one month's periodic rent, whichever is greater, shall bear interest on the excess at the rate of five per cent per annum if the tenant remains in possession of the premises for six months or more, and shall be computed and paid annually by the landlord to the tenant.

Upon termination of the rental agreement any property or money held by the landlord as a security deposit may be applied to the payment of past due rent and to the payment of the amount of damages that the landlord has suffered by reason of the tenant's noncompliance with section 5321.05 of the Revised Code or the rental agreement. Any deduction from the security deposit shall be itemized and identified by the landlord in a written notice delivered to the tenant together with the amount due, within thirty days after termination of the rental agreement and delivery of possession.

For Ohio interest pages, use Ohio Rev. Code § 1343.03 for obligation and judgment-interest computation, Ohio Rev. Code § 5703.47 for the annual statutory rate formula, and Ohio Rev. Code § 1343.01 for written-instrument contract-rate limits.

Interest in Ohio

Current verified answer

Authority and key facts

Interest in Ohio

Interest calculation example

Interest calculation example