Interest Rates

Please direct queries regarding interest rates to interestrates@qls.com.au

REIQ contract default interest rate

10.36% (effective from 1 February 2023 to 31 March 2023)
10.61% (effective from 1 April 2023 until revised)

Note: This rate is the "Default Interest Rate" published by Queensland Law Society for the purposes of the Real Estate Institute of Queensland contracts made available to QLS members. This rate is a per annum rate of simple interest. Historical default interest rates appear below.

Federal Circuit and Family Court of Australia

For paragraphs 87 (11) (b) and 90KA (b), 90UN (b) and subsection 117B (1) of the Family Law Act 1975, the rate of interest prescribed under Rule 10.17 of the Federal Circuit and Family Court of Australia (Family Law) Rules 2021 is available on the Federal Circuit and Family Court of Australia website.

Federal Court

Interest on judgment debt - (Order 35 Rule 8 of the Federal Court Rules to 31 July 2011. From 1 August 2011 rule 39.06 of the Federal Court Rules 2011) - rates set at 6% above RBA cash target rate at beginning of periods 1 January - 30 June & 1 July - 31 December. See the Federal Court's website for rates and historical rates.

Interest in respect of a pre-judgment period to be set with regard to Practice Note CM 16 - Pre-judgment Interest

Supreme, District & Magistrates Courts

On 19 April 2013 the Chief Justice issued Practice Direction 7/2013 adopting a new approach to State Court interest rates for default judgments and money orders, aligning with other jurisdictions. Corresponding practice directions were issued for the District Court and Magistrates Court.

Interest rate on a default judgment before a registrar (for rule 283 of the UCPR) from 19 April 2013 rates set at 4% above RBA cash target rate at beginning of periods 1 January - 30 June & 1 July - 31 December. See the Court's website for rates and historical rates.

Interest rate payable on a money order made in the Supreme, District and Magistrates Courts from 19 April 2013 rates set at 6% above RBA cash target rate at beginning of periods 1 January - 30 June and 1 July - 31 December. See the Court's website  for rates and historical rates.

From the cause of action until judgment, interest rate is at the courts discretion. See the Court's website for rates and historical rates.

Court Suitors fund

0.0% (effective 1 January 2021 to 31 March 2021)
0.0% (effective 1 July 2020 to 30 September 2020)
0.0% (effective 1 April 2020 to 30 June 2020)
0.0% (effective 1 January 2020 to 31 March 2020)
0.9361% (effective 1 October 2018 to 31 December 2018)
1.10% (effective 1 July 2018 to 30 September 2018)
1.035% (effective 1 April 2018 to 30 June 2018)
0.790% (effective 1 January 2018 to 31 March 2018)
0.705% (effective 1 October 2017 to 31 December 2017)
0.710% (effective 1 July 2017 to 30 September 2017)
0.795% (effective 1 April 2017 to 30 June 2017)
0.815% (effective 1 January 2017 to 31 March 2017)
0.73% (effective 1 October 2016 to 31 December 2016)
0.955% (effective 1 July 2016 to 30 September 2016)
1.28% (effective 1 April 2016 to 30 June 2016)
1.6983% (effective 1 October 2014 to 31 December 2014)
1.6750% (effective 1 July 2014 to 30 September 2014)
1.6533% (effective 1 April 2014 to 30 June 2014)
1.605% (effective 1 January 2014 to 31 March 2014)
1.5617% (effective 1 October 2013 to 31 December 2013)
1.8075% (effective 1 July 2013 to 30 September 2013)
2.05% (effective 1 April 2013 to 30 June 2013)
2.01% (effective 1 January 2013 to 31 March 2013)
2.29% (effective 1 October 2012 to 31 December 2012)
2.5467% (effective 1 July 2012 to 30 September 2012)
3.26% (effective 1 April 2012 to 30 June 2012)
3.4133% (effective 1 January 2012 to 31 March 2012)
3.9217% (effective 1 October to 31 December 2011)
3.9767% (effective 1 July 2011 to 30 September 2011)
3.8883% (effective 1 April 2011 to 30 June 2011)
3.96% (effective 1 January 2011 to 31 March 2011)
3.88% (effective 1 October 2010 to 31 December 2010)
3.84% (effective 1 July 2010 to 30 September 2010)
3.42% (effective 1 April 2010 to 30 June 2010)
3.11% (effective 1 January 2010 to 31 March 2010)

Interest on unpaid legal costs

Under s321 Legal Profession Act 2007  and s72 Legal Profession Regulation 2017 a law practice is entitled to charge interest on unpaid legal costs in limited circumstances, but the rate of interest charged must never exceed the rate prescribed under s59(3) the Civil Proceedings Act 2011 for a money order debt. 

This rate is set by Supreme Court of Queensland Practice Direction, most recently (as at 20 January 2015) Practice Direction 7 of 2013 and should be checked using the Queensland Courts website.

Historical REIQ contract default interest rates

March 1, 2023 - 10.36%
February 1, 2023 - 10.36%
January 1, 2023 - 10.11%
December 1, 2022 - 9.86%
November 1, 2022 - 9.61%
October 1, 2022 - 9.11%
September 1, 2022 - 8.11%
August 1, 2022 - 8.11%
July 1, 2022 - 6.01%
June 1, 2022 - 6.01%
May 1, 2022 - 6.01%
April 1, 2022 - 6.01%
March 1, 2022 - 6.01%
February 1, 2022 - 6.01%
January 1, 2022 - 6.01%
December 1, 2021 - 6.01%
November 1, 2021 - 6.01%
October 1, 2021 - 6.01%
September 1, 2021 - 6.01%
August 1, 2021 - 6.01%
July 1, 2021 - 6.01%
June 1, 2021 - 6.01%
May 1, 2021 - 6.01%
April 1, 2021 - 6.01%
March 1, 2021 - 6.01%
February 1, 2021 - 6.03%
January 1, 2021 - 6.05%
December 1, 2020 - 6.08%
November 1, 2020 - 6.11%
October 1, 2020 - 6.24%
September 1, 2020 - 6.24%
August 1, 2020 - 6.24%
July 1, 2020 - 6.22%
June 1, 2020 - 8.96%
May 1, 2020 - 8.96%
April 1, 2020 - 8.96%
March 1, 2020 - 8.96%
February 1, 2020 - 8.96%
January 1, 2020 - 8.96%
December 1, 2019 - 8.96 %
November 1, 2019 – 9.00%
October 1, 2019 – 8.96%
September 1, 2019 - 9.07%
August 1, 2019 - 9.07%
July 1, 2019 - 9.07%
June 1, 2019 - 9.18%
May 1, 2019 - 9.30%
April 1, 2019 - 9.30%
March 1, 2019 - 9.30%
February 1, 2019 - 9.30%
January 1, 2019 - 9.30%
December 1, 2018 - 9.30%
November 1, 2018 - 9.30%
October 1, 2018 - 9.30%
September 1, 2018 - 9.30%
August 1, 2018 - 9.25%
July 1, 2018 - 9.25%
June 1, 2018 - 9.25%
May 1, 2018 - 9.25%
April 1, 2018 - 9.25%
March 1, 2018 - 9.25%
February 1, 2018 - 9.25%
January 1, 2018 - 9.25%
December 1, 2017 - 9.25%
November 1, 2017 - 9.30%
October 1, 2017 - 9.30%
September 1, 2017 - 9.30%
August 1, 2017 - 9.30%
July 1, 2017 - 9.30%
June 1, 2017 - 9.25%
May 1, 2017 - 9.25%
April 1, 2017 - 9.25%
March 1, 2017 - 9.25%
February 1, 2017 - 9.25%
January 1, 2017 - 9.25%
December 1, 2016 - 9.25%
November 1, 2016 - 9.25%
October 3, 2016 - 9.25%
September 1, 2016 - 9.35%
August 1, 2016 - 9.35%
July 1, 2016 - 9.35%
June 1, 2016 – 9.60%
May 3, 2016 – 9.60%
April 1, 2016 – 9.55%
March 2, 2016 – 9.55%
February 1, 2016 – 9.45%
January 1, 2016 – 9.45%
December 1, 2015 – 9.45%
November 1, 2015 – 9.45%
October 1, 2015 – 9.45%
September 1, 2015 – 9.45%
August 1, 2015 – 9.45%
July 2, 2015 - 9.45%
June 1, 2015 – 9.55%
May 31, 2015 - 9.55%
May 4, 2015-9.70%
April 2, 2015 - 9.70%
March 1, 2015 - 9.80%
February 1, 2015 - 9.80%
January 1, 2015 - 9.95%
December 1, 2014 - 9.95%
November 1, 2014 - 9.95%
October 1, 2014 - 9.95%
September 1, 2014 - 9.95%
August 1, 2014 - 9.95%
July 1, 2014 - 9.95%
June 1, 2014 - 9.95%
May 1, 2014 - 9.95%
April 1, 2014 - 9.95%
March 1, 2014 - 9.95%
February 1, 2014 - 9.95%
January 1, 2014 - 9.95%
December 1, 2013 - 9.95%
November 1, 2013 - 9.95%
October 1, 2013 - 9.95%
September 1, 2013 - 10.20%
August 1, 2013 - 10.20%
July 1, 2013 - 10.20%
June 1, 2013 - 10.45%
May 1, 2013 - 10.45%
April 1, 2013 - 10.45%
March 1, 2013 - 10.45%
February 1, 2013 - 10.45%
January 1, 2013 - 10.65%
December 1, 2012 - 10.65%
November 1, 2012 - 10.85%
October 1, 2012 - 10.85%
September 1, 2012 - 10.85%
August 1, 2012 - 10.85%
July 1, 2012 - 11.10%
April 1, 2012 - 11.45%
February 1, 2012 - 11.40%
February 1, 2011 - 11.85%
July 1, 2010 - 11.45%
June 1, 2010 - 11.20%
May 1, 2010 - 10.95%
February 1, 2010 -10.70%
December 1, 2009 - 10.15%
June 1, 2009 - 9.90%
May 1, 2009 - 10.05%
April 1, 2009 - 10.1%
March 1, 2009 - 11.1%
February 1, 2009 - 11.15%
November 26, 2008 - 12.15%
October 13, 2008 - 13.21%
July 17, 2008 - 14.01%
April 2, 2008 - 13.77%
March 13, 2008 - 13.57%
February 8, 2008 - 13.1%
February 2008 - 12.85%
December 2007 - 12.5%
November 2007 - 12.25%
October 2007 - 12.25%
September 2007 - 12.25%
August 2007 - 12%
July 2007 - 12%
June 2007 - 12%
May 2007 - 12%
April 2007 - 12%
March 2007 - 12%
February 2007 - 12%
December 2006- 12%
November 2006 - 11.75%
October 2006 - 11.75%
September 2006 - 11.75%
August 2006 - 11.5%
July 2006 - 11.5%
June 2006 - 11.5%
May 2006 - 11.25%
April 2006 - 11.25%
March 2006 - 11.25%
February 2006 - 11.25%
December 2005 - 11.25%
November 2005 - 11.25%
October 2005 - 11.25%
September 2005 - 11.25%
August 2005 - 11.25%
July 2005 - 11.25%
June 2005 - 11.25%
May 2005 - 11.25%
April 2005 - 11.25%
March 2005 - 11%
February 2005 - 11%

Correction: The July 2012 edition of Proctor contained an error in the listing of the historical Standard Default Contract Rate. The historical rate for April, May and June 2012 should have been listed as 11.45%, not 11.40% as published.