NDCC 28-20-34 requires that before the twentieth of December of each year, the state court administrator must determine the rate of interest on judgments. This rate is determined by using the prime rate as it is reported on the first Monday in December, plus 3 percentage points, and rounded up to the next one-half percentage point. The prime rate on December 6, 2021 was 3.25%. Therefore, the interest rate for judgments entered between January 1, 2022 and December 31, 2022 shall be 6.50%.
|
Year |
Interest Rate on Judgments entered between Jan. 1 and Dec. 31 |
|
2022 |
6.50% |
|
2021 |
6.50% |
|
2020 |
8.00% |
|
2019 |
8.50% |
|
2018 |
7.50% |
|
2017 |
6.50% |
|
2016 |
6.50% |
|
2015 |
6.50% |
|
2014 |
6.50% |
|
2013 |
6.50% |
|
2012 |
6.50% |
|
2011 |
6.50% |
|
2010 |
6.50% |
|
2009 |
7.00% |
|
2008 |
10.50% |
|
2007 |
11.50% |
|
2006 |
10.00% |
