Post Judgment Interest Calculator Ontario

Post judgment interest in Ontario is calculated based on the judgment amount and the applicable interest rate. This calculator helps you determine how much interest will accrue after a judgment is rendered in Ontario courts.

How to Use This Calculator

To calculate post judgment interest in Ontario:

Enter the judgment amount in the first field.
Select the interest rate from the dropdown menu.
Enter the number of days the interest will accrue.
Click "Calculate" to see the result.

The calculator will display the total post judgment interest based on your inputs.

Formula Used

The post judgment interest is calculated using the following formula:

Post Judgment Interest = Judgment Amount × (Daily Interest Rate × Number of Days) / 365

Where:

Judgment Amount - The amount awarded in the judgment
Daily Interest Rate - The applicable daily interest rate (varies by case)
Number of Days - The number of days from the judgment date to the payment date

Note: The Ontario courts typically use a daily interest rate of 5% for most cases, but this can vary depending on the specific circumstances of the case.

Worked Example

Let's calculate post judgment interest for a judgment of $10,000 with a 5% daily interest rate over 90 days.

Post Judgment Interest = $10,000 × (0.05 × 90) / 365

= $10,000 × 4.5 / 365

= $10,000 × 0.01233

= $123.30

In this example, the post judgment interest would be $123.30.

Frequently Asked Questions

What is post judgment interest in Ontario?: Post judgment interest is the interest that accrues on a judgment amount from the date of the judgment until the date of payment.
How is post judgment interest calculated in Ontario?: Post judgment interest is calculated using the judgment amount, the applicable daily interest rate, and the number of days from the judgment date to the payment date.
What is the standard interest rate for post judgment interest in Ontario?: The standard interest rate for post judgment interest in Ontario is typically 5% per day, but this can vary depending on the specific circumstances of the case.
When does post judgment interest start accruing?: Post judgment interest starts accruing from the date the judgment is rendered until the date the judgment amount is paid in full.
Can post judgment interest be waived in Ontario?: In some cases, post judgment interest may be waived if there are exceptional circumstances, but this is at the discretion of the court.