Massachusetts General Laws

Mass. Gen. Laws ch. 107, § 3 (2026)

Rate of interest

✓ current as of July 2026

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Section 3. If there is no agreement or provision of law for a different rate, the interest of money shall be at the rate of six dollars on each hundred for a year, but, except as provided in sections seventy-eight, ninety, ninety-two, ninety-six and one hundred of chapter one hundred and forty, it shall be lawful to pay, reserve or contract for any rate of interest or discount. No greater rate than that before mentioned shall be recovered in a suit unless the agreement to pay it is in writing.

Notes of Decisions

Cited in 44 cases (2 in the last 5 years), 1926–2025 · leading case: Perkins Sch. for the Blind v. Rate Setting Comm'n, 423 N.E.2d 765 (Mass. 1981).

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Perkins Sch. for the Blind v. Rate Setting Comm'n, 423 N.E.2d 765 (Mass. 1981). · cites it 8× “The court ruled also that interest was to be computed at the legal rate (G. L. c. 107, § 3), running from the end of each monthly billing period to the date the balance due under the adjusted rates was paid.”

Begelfer v. Najarian, 409 N.E.2d 167 (Mass. 1980). · cites it 2× “While parties may contract for interest in an amount *184 greater than twenty per cent, the Legislature has determined that as a matter of public policy persons who charge more than twenty per cent interest must register with the Attorney General.”

Poras v. Pauling, 874 N.E.2d 1127 (Mass. App. Ct. 2007). · cites it 3× “231, § 6H, 18 or G. L. c. 107, § 3. 19 , 20 Contrast Karellas v.”

Demoulas v. Demoulas Super Markets, Inc., 677 N.E.2d 159 (Mass. 1997). “As a basis for the six per cent figure, the judge cited G. L. c. 107, § 3, which states in relevant part, “[i]f there is no agreement or provision of law for a different rate, the interest of money shall be at a rate of six dollars on each hundred for a year .”

Sargeant v. Comm'r of Pub. Welfare, 423 N.E.2d 755 (Mass. 1981). · cites it 2× “Even if [the provider] had made no prior demand for payment, it was entitled, under general principles for the allowance of interest, to recover interest (G. L. c. 107, § 3), at least from the date of seeking that review, which constituted an unequivocal demand for payment of…”

Shawmut Cmty. Bank, N.A. v. Zagami, 586 N.E.2d 962 (Mass. 1992). “See G. L. c. 107, § 3 (1990 ed.). 6 The Appeals Court affirmed the award of twelve per cent interest under G.”

USM Corp. v. Marson Fastener Corp., 467 N.E.2d 1271 (Mass. 1984). “See G. L. c. 107, § 3. In the process of extracting from the defendants the gain they derived from the trade secret violation, one should not ignore the fact that the defendants have had the use of the allocable profits.”

Com. Union Ins. v. Boston Edison Co., 591 N.E.2d 165 (Mass. 1992). “The interest rate should have been calculated at the rate of six percent per annum pursuant to G. L. c. 107, § 3 (1990 ed.), according to Edison; alternatively, Edison argues that interest should have been calculated at the rate of eight percent per annum pursuant to a tolling…”

Roberts v. Grise, 442 N.E.2d 30 (Mass. 1982). · cites it 3× “It is apparent that the judge concluded that G. L. c. 107, § 3, was controlling in its provision that “[I]f there is no agreement or provision of law for a different rate, the interest of money shall be at the rate of six dollars on each hundred .”

Perkins Sch. for the Blind v. Rate Setting Comm'n, 411 N.E.2d 1317 (Mass. App. Ct. 1980). · cites it 3× “For that reason we have no doubt that interest is owed to Perkins School under G. L. c. 107, § 3, for any “detention of money beyond the reasonable time which the statutes requiring payment to [the school] fairly should be interpreted as contemplating.”

Chase v. Pevear, 419 N.E.2d 1358 (Mass. 1981). “See G. L. c. 107, § 3. We find no abuse of discretion, but the amounts must of course be recomputed in accordance with our decision.”

Karellas v. Karellas, 766 N.E.2d 102 (Mass. App. Ct. 2002). “Where, as here, there is no statutory prejudgment rate of interest, the six percent standard statutory rate found in G. L. c. 107, § 3, applies. See Sharpe v.”

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