N.Y. Civil Practice Law & Rules § 5004: Rate of interest

§ 5004. Rate of interest. (a) Interest shall be at the rate of nine

per centum per annum, except where otherwise provided by statute;

provided the annual rate of interest to be paid in an action arising out

of a consumer debt where a natural person is a defendant shall be two

per centum per annum (i) on a judgment or accrued claim for judgments

entered on or after the effective date of the chapter of the laws of two

thousand twenty-one which amended this section, and (ii) for interest

upon a judgment pursuant to section five thousand three of this article

from the date of the entry of judgment on any part of a judgment entered

before the effective date of the chapter of the laws of two thousand

twenty-one which amended this section that is unpaid as of such

effective date.

(b) For the purpose of this section "consumer debt" means any

obligation or alleged obligation of any natural person to pay money

arising out of a transaction in which the money, property, insurance or

services which are the subject of the transaction are primarily for

personal, family or household purposes, whether or not such obligation

has been reduced to judgment, including, but not limited to, a consumer

credit transaction, as defined in subdivision (f) of section one hundred

five of this chapter.

(c) This section does not affect or create any rights or remedies

related to any amounts paid prior to the effective date of this

subdivision, including amounts paid to satisfy judgments or to accrued

interest or fees paid, or with respect to judgments satisfied prior to

the effective date of this subdivision. For amounts paid prior to the

effective date of this subdivision and lawfully applied in satisfaction

or partial satisfaction of interest or fees accrued prior to the

effective date of this subdivision, this section shall not be construed

to require a judgment creditor or sheriff to (i) return or refund such

amounts to judgment debtors; or (ii) apply such payments to satisfy any

part of a money judgment other than fees or interest upon judgment

pursuant to section five thousand three of this article.

(d) If any word, phrase, clause, sentence, paragraph, subdivision, or

part of this section or its application to any person or circumstance is

held invalid by any court of competent jurisdiction after exhaustion of

all further judicial review, the invalidity shall not affect, impair, or

invalidate the remainder of this section or applications of this article

which can be given effect without the invalid provision or application,

and to this end the provisions of this section are severable.