General rule. Indiana Code 24-4.6-1-101, sometimes called the "Post-Judgment Interest Statute," generally provides for a post-judgment interest rate of eight percent (8%) per annum (the annual rate). The statute applies to money judgments, including in personam (personal) judgments entered in favor of lenders in commercial foreclosure actions. The rate runs from the date of the Court finding (judgment) until the date the defendant (borrower/guarantor) satisfies the judgment.
Exception. 8% actually is a statutory cap. The rate can be less if the original contract sued upon, such as a promissory note, provides for a lesser rate. In other words, the loan documents will control the post-judgment interest rate if the negotiated rate is less than 8%. See, I.C. 24-4.6-1-101(1). Otherwise, the statutory rate of 8% per annum will apply.