New Mexico prejudgment interest rate
United States New Mexico prejudgment interest — capped discretionary and up-to-15% obligation branches.
→ All New Mexico judgment & prejudgment interest rates
Fixed by statute Discretionary
2026 New Mexico prejudgment interest at a glance
- Current rate
- 10% / 15% per year
- Effective date
- July 9, 2026
- Controlling authority
- NMSA 1978 §56-8-4(B) (≤10% discretionary); §56-8-3 (15% liquidated/contract)
- Rate basis
- Fixed by statute
- Source checked
- July 9, 2026
- Recorded history
- 1 data point
New Mexico has separate prejudgment branches. NMSA 1978 §56-8-4(B) permits a court to award up to 10% in qualifying cases, subject to statutory exclusions. Section 56-8-3 says no more than 15% on its listed obligations; it does not make 15% an unconditional default. The obligation, agreement, defendant, and claim determine the usable rate.
When New Mexico prejudgment interest applies
Section 56-8-3 addresses listed contract, retained-money, and settled-account obligations and caps the rate at 15%, subject to the governing agreement and law. Section 56-8-4(B) is discretionary, excludes specified child-support and government matters, and requires the court to consider statutory factors.
When it starts accruing
Discretionary track (56-8-4(B)): from the date the complaint is served upon the defendant. As-of-right track (56-8-3): from the date the sum became due/ascertainable — e.g., money due by contract accrues from when payment was due; matured accounts accrue from the day the balance is ascertained.
Simple or compound
The statutes provide annual limits but do not establish one universal compounding and payment-allocation method across both branches. Confirm the selected rate and judgment before calculating.
→ Compare with the New Mexico post-judgment interest rate (interest after judgment)
New Mexico prejudgment interest splits by claim type: for unliquidated claims (e.g. personal injury) a court may award UP TO 10% in its discretion (NMSA 1978 §56-8-4(B)); for liquidated/contract 'money due by contract' claims, 15% applies as of right (§56-8-3). Verified 2026-07-11. Not legal advice.
Current recorded observation
| Effective date | Rate | Basis |
|---|---|---|
| July 9, 2026 | 10% / 15% | Statute |
Source & provenance
Observation recorded July 9, 2026 (00:00 UTC) from the cited source (New Mexico Compilation Commission — NMOneSource (official)):
https://nmonesource.com/nmos/nmsa/en/item/4418/index.do
Cite this page
StatuteRates. “New Mexico Prejudgment Interest Rate.” StatuteRates.com. Accessed today. https://statuterates.com/rates/new-mexico-prejudgment-rate/ Rate recorded under NMSA 1978 §56-8-4(B) (≤10% discretionary); §56-8-3 (15% liquidated/contract), effective July 9, 2026.