§ StatuteRates

Illinois Prejudgment Interest Rate

United States  Illinois’s prejudgment interest rate — when a court awards it.

Current rate
6% / 5% per year — statutory prejudgment rate (statute verified July 10, 2026)
Set by statute Fixed by statute

Illinois prejudgment interest is 6% / 5% per year, as simple interest under 735 ILCS 5/2-1303(c). Interest Act (815 ILCS 205/2), 5%: available ONLY where the amount is LIQUIDATED or subject to easy computation — written instruments (bond, bill, promissory note), money lent/advanced,…

When Illinois prejudgment interest applies

Interest Act (815 ILCS 205/2), 5%: available ONLY where the amount is LIQUIDATED or subject to easy computation — written instruments (bond, bill, promissory note), money lent/advanced, money due on a settled/liquidated account, money received to another's use and retained, and money withheld by "unreasonable and vexatious delay." BARRED on unliquidated damages where the amount is genuinely disputed until judgment (traditional Illinois rule: no prejudgment interest on unliquidated tort/damage claims outside a…

When it starts accruing

Personal injury/wrongful death (735 ILCS 5/2-1303(c)): accrues from the date the action is FILED (tolled while voluntarily dismissed and refiled), capped at 5 years maximum.

Simple or compound

Simple interest. 735 ILCS 5/2-1303(c) provides "interest calculated at the rate of 6% per annum" with no compounding language; the Interest Act 815 ILCS 205/2 likewise provides simple 5% per annum.

→ Compare with the Illinois post-judgment interest rate (interest after judgment)

Prejudgment interest under 735 ILCS 5/2-1303(c) — 6% / 5% (simple interest). This is PREjudgment interest (accruing before entry of judgment) and is separate from Illinois’s post-judgment rate; availability is limited by claim type (see the page). Verify against the statute text. Not legal advice.

Effective-date history

1 data point on record. Full history in the JSON API.
Effective dateRateBasis
July 9, 2026 6% / 5% Statute

Source & provenance

Latest value retrieved July 10, 2026 (02:55 UTC) from the official source:
https://ilga.gov/documents/legislation/ilcs/documents/081502050K2.htm

Reference data only — not legal, tax, or financial advice. Always confirm the controlling value against the official source and, where applicable, the governing statute or court before relying on it.