Notice of Interest Rate on Escrow Accounts

​​​​​​​Public Notice

Department of Financial Institutions 

Division of Banking

Notice of 2023 Interest Rate on Escrow Accounts under Wis. Stat. s. 138.052(5)(am)2

Pursuant to Wis. Stat. s. 138.052(5)(am), except as provided in Wis. Stat. s. 138.052(5m)(b), and unless the escrow funds are held by a 3rd party in a noninterest-bearing account, a bank, credit union, savings bank, savings and loan association or mortgage banker which originates a loan on or after January 1, 1994, and before April 18, 2018, or a loan subject to Wis. Stat. s. 138.052(5)(am)3 and which requires an escrow to assure the payment of taxes or insurance shall pay interest on the outstanding principal balance of the escrow at the variable interest rate established under Wis. Stat. s. 138.052(5)(am)2.

Pursuant to Wis. Stat. s. 138.052(5)(am)2, the Department of Financial Institutions, Division of Banking, has calculated the interest rate to be paid on escrow accounts subject to Wis. Stat. s. 138.052(5)(am)2, to be 0.11% for 2023.  The interest rate shall remain in effect through December 31, 2023.

Contact Us​

Kim Swissdorf
Acting Administrator
Division of Banking
Phone:  (608) 716-9691