Landlord Security Deposit Interest Calculator
Many states and cities require landlords to pay tenants interest on security deposits. Enter the deposit amount, applicable annual interest rate, and length of tenancy to estimate the interest owed.
About this calculator
Calculate the interest owed on a tenant's security deposit based on deposit amount, annual interest rate, and length of tenancy.
Frequently Asked Questions
Are landlords required to pay interest on security deposits?
It depends on your state or city. Many jurisdictions like New York City, Massachusetts, and Maryland require interest payments, while others do not mandate it at all.
How is security deposit interest usually calculated?
Most jurisdictions use simple interest calculated annually based on a state-mandated or bank-passbook interest rate, though some require compounding.
When is deposit interest paid to the tenant?
Interest is typically paid annually, upon lease renewal, or when the deposit is returned at the end of the tenancy, depending on local law.