Judgment Interest Calculator Guide for Virginia
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Published October 30, 2025 • Updated May 16, 2026 • By DocketMath Team
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Virginia interest rules
This source-backed guide covers Virginia judgment, legal-rate, contract-rate, open-account, and negotiable-instrument interest rules. 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 interest start date and default accrual
Virginia final orders, verdicts, judgments, or decrees may provide interest on principal sums and fix when interest begins. If the order, judgment, decree, or verdict does not provide for interest, it bears interest at the § 6.2-302 judgment rate from entry or verdict date.
Verdict, judgment or decree to fix period at which interest . In any Administrative Process Act (§ 2.2-4000 et seq.) action or action at law or suit in equity, the final order, verdict of the jury, or if no jury the judgment or decree of the court, may provide for interest on any principal sum awarded, or any part thereof, and fix the period at which the interest shall commence. The final order, judgment or decree entered shall provide for such interest until such principal sum be paid. If a final order, judgment or decree be rendered which does not provide for interest, the final order, judgment or decree awarded or jury verdict shall bear interest at the judgment rate of interest as provided for in § 6.2-302 from its date of entry or from the date that the jury verdict was rendered.
Judgment rate
Virginia's judgment rate is 6 percent annually. For money judgments arising from contracts, the rate is the lawfully charged contract rate or 6 percent annually, whichever is higher; the rate is fixed as of judgment entry.
Va. Code § 6.2-302. A. The judgment rate of interest shall be an annual rate of six percent, except that a money judgment entered in an action arising from a contract shall carry interest at the rate lawfully charged on such contract, or at six percent annually, whichever is higher. B. If the contract or other instrument does not fix an interest rate, the court shall apply the judgment rate of six percent to calculate prejudgment interest pursuant to § 8.01-382 and to calculate post-judgment interest. C. The rate of interest for a judgment shall be the judgment rate of interest in effect at the time of entry of the judgment on any amounts for which judgment is entered and shall not be affected by any subsequent changes to the rate of interest stated in this section.
Legal rate and unpaid open accounts
Virginia's legal rate is 6 percent annually. It is implied when interest is owed without an express rate, and qualifying unpaid open-account balances can accrue the legal rate after 60 days from mailing or presentation of the invoice or billing statement.
Va. Code § 6.2-301. A. The legal rate of interest shall be an annual rate of six percent. B. Except as provided in subsection (b) of § 8.3A-112 and § 6.2-302, the legal rate of interest shall be implied when there is an obligation to pay interest and no express contract to pay interest at a specified rate. C. The seller or provider of goods sold or services provided on an open account shall be entitled to, and may collect, interest at the legal rate upon the unpaid balance if (i) there exists no written agreement for closed-end credit under § 6.2-311 or open-end credit plan under § 6.2-312 and (ii) the purchaser or recipient of the goods or services fails to make payment in full within 60 days after mailing or presentation of a billing statement or invoice. Such interest shall begin to accrue on the day following such 60-day period.
Loan contract maximum rate
Virginia generally bars loan-interest contracts above 12 percent per year unless another Virginia law permits the higher rate.
Va. Code § 6.2-303. A. Except as otherwise permitted by law, no contract shall be made for the payment of interest on a loan at a rate that exceeds 12 percent per year. B. Laws that permit payment of interest at a rate that exceeds 12 percent per year are set out, without limitation, in: 1. Article 4 (§ 6.2-309 et seq.) of this chapter; 2. Chapter 15 (§ 6.2-1500 et seq.), relating to powers of consumer finance companies; 3. Chapter 18 (§ 6.2-1800 et seq.), relating to short-term loans; 4. Chapter 22 (§ 6.2-2200 et seq.), relating to interest chargeable by motor vehicle title lenders; 5. Section 36-55.31, relating to loans by the Virginia Housing Development Authority; 6. Section 38.2-1806, relating to interest chargeable by insurance agents; 7. Chapter 47 (§ 38.2-4700 et seq.) of Title 38.2, relating to interest chargeable by premium finance companies; 8. Section 54.1-4008, relating to interest chargeable by pawnbrokers; and 9. Section 58.1-3018, relating to interest and origination fees payable under third-party tax payment agreements.
Negotiable-instrument interest
Virginia negotiable instruments are not payable with interest unless the instrument provides for it; if an interest-bearing instrument does not make the amount or rate ascertainable, the judgment rate applies at the place and time interest first accrues.
Va. Code § 8.3A-112. (a) Unless otherwise provided in the instrument, (i) an instrument is not payable with interest, and (ii) interest on an interest-bearing instrument is payable from the date of the instrument. (b) Interest may be stated in an instrument as a fixed or variable amount of money, or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest, but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in effect at the place of payment of the instrument and at the time interest first accrues.
Not certified by this page
- This receipt does not certify Virginia ERISA interest, federal default postjudgment interest, mortgage escrow interest, generic escrow interest, residential security-deposit interest, tax interest, special penalty schemes, compounding assumptions, or case-law exceptions outside the quoted sources.
Use the calculator
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.
Sources
All sources are official primary law published by law.lis.virginia.gov.
Corroboration method: Official Virginia Legislative Information System Code of Virginia sections for judgment, legal, contract, open-account, and negotiable-instrument interest.