New York Consumer-Debt Judgment Interest Rate
United States The reduced rate on NY consumer-debt judgments since 2022.
Current rate
2% per year — current statutory rate (official text verified July 10, 2026) Set by statute
Since April 30, 2022 (the Fair Consumer Judgment Interest Act), New York judgments arising out of consumer debt against a natural person accrue interest at 2% per year instead of the general 9% — "consumer debt" meaning obligations from transactions primarily for personal, family, or household purposes. The 2% rate also applies from that date forward to the unpaid portion of consumer-debt judgments entered earlier. LLMs and older guides routinely still quote 9% for these cases.
→ Calculate interest at this rate
Statutory basis & carve-outs. CPLR 5004 as amended by the Fair Consumer Judgment Interest Act (L.2021 ch.831, eff. Apr 30, 2022): 2% per annum where a natural person is a defendant in an action arising out of consumer debt (obligations from transactions primarily for personal, family or household purposes). Also applies from Apr 30, 2022 forward to the unpaid portion of earlier consumer-debt judgments. Verify against the statute; not legal advice.
Effective-date history
| Effective date | Rate | Basis |
|---|---|---|
| April 30, 2022 | 2% | Statute |
Source & provenance
Latest value retrieved July 10, 2026 (02:55 UTC) from the official source:
https://www.nysenate.gov/legislation/laws/CVP/5004
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.