Judgment Rate of Interest

"(1) The parties to a lawful written, verbal, or implied contract may agree upon any rate of interest for the contract, including a contract for services, a loan or forbearance of any money, goods, or services, or a claim for breach of contract.
(2) Unless the parties to a lawful written, verbal, or implied contract expressly specify a different rate of interest, the legal rate of interest for the contract, including a contract for services, a loan or forbearance of any money, goods, or services, or a claim for breach of contract is 10% per annum. (§15-1-1)

In situations where a contractual interest rate is not agreed, §15-1-4 may apply, and it reads in part:

(3) (a) Except as otherwise provided by law, or as governed by Subsection (4), all other final civil and criminal judgments of the district court, the justice court, and the Business and Chancery Court shall bear interest at the federal postjudgment interest rate as of January 1 of each year, plus 2%.
(b) The postjudgment interest rate in effect at the time of the judgment shall remain the interest rate for the duration of the judgment.
(c) The interest on criminal judgments shall be calculated on the total amount of the judgment.
(d) Interest paid on state revenue shall be deposited in accordance with Section 63A-3-505.
(e) Interest paid on revenue to a county or municipality shall be paid to the general fund of the county or municipality.
(4) A judgment under $10,000 in an action regarding the purchase of goods and services shall bear interest from the date on which the district court, the justice court, or the Business and Chancery Court enters the judgment at 10% plus the federal postjudgment interest rate in effect on January 1 of the year in which the judgment is entered."