Maine Prejudgment Interest Rate
United States Maine prejudgment interest — a formula rate, reset each year.
Set by statute Formula rate
Maine prejudgment interest is currently 6.51% per year — a statutory formula rate under 14 M.R.S. § 1602-B that resets each year. Maine is unusually broad and does NOT limit prejudgment interest to liquidated/ascertainable claims.
When Maine prejudgment interest applies
Maine is unusually broad and does NOT limit prejudgment interest to liquidated/ascertainable claims. Under sub 3, prejudgment interest is allowed in essentially ALL civil actions other than small claims (sub 1) and interest-bearing contract/note actions (sub 2) - this expressly INCLUDES tort and unliquidated damages (e.g., personal injury). No liquidated-only, contract-only, or ascertainable-amount requirement.
When it starts accruing
Accrues from the time a sworn notice of claim setting forth the cause of action is served on the defendant personally or by registered/certified mail, until the date judgment is entered. If no notice of claim was given, accrues from the date the complaint is filed.
Simple or compound
Simple. The statute prescribes a flat rate applied to the damages amount with no compounding; sub 6 further bars prejudgment interest from being folded into the base for post-judgment interest.
How the rate is set
1-year U.S. Treasury bill rate + 3%, where the T-bill rate = weekly average one-year constant maturity Treasury yield (Federal Reserve Board of Governors) for the last full week of the calendar year immediately before the accrual year.
→ Compare with the Maine post-judgment interest rate (interest after judgment)
Prejudgment interest under 14 M.R.S. § 1602-B — 6.51% (simple interest). This is PREjudgment interest (accruing before entry of judgment) and is separate from Maine’s post-judgment rate; availability is limited by claim type (see the page). Current formula value as of 2026-07-09; verify at legislature.maine.gov. Not legal advice.
Effective-date history
| Effective date | Rate | Basis |
|---|---|---|
| July 9, 2026 | 6.51% | Statute |
Source & provenance
Latest value retrieved July 10, 2026 (02:55 UTC) from the official source:
https://legislature.maine.gov/statutes/14/title14sec1602-B.html