Calculators
Security Deposit Interest Calculator
Calculate interest owed on a tenant's security deposit using simple or annually compounded interest over the time held.
- Runs in your browser
- Nothing uploaded
The tool
Enter your numbers below. Results update as you type, and nothing leaves your browser.
Everything you enter stays on your own machine. Nothing is sent to us or to anyone else, which you can confirm in your browser network tab.
What people use it for
- Returning a deposit at move-out
- Annual interest credits to tenants
- Landlord compliance checks
- Tenant checks of a deposit return
About this tool
What the Security Deposit Interest Calculator does
Some states and cities require landlords to pay interest on security deposits, at a fixed or published annual rate. This calculator works out the interest owed for the time the deposit was held, with simple or annual compounding as your local rules specify.
Formula
- Simple interest = deposit × rate × years
- Annual compounding = deposit × ((1 + rate)^years − 1)
Worked example
Using the starting values in the calculator above:
| Input | Value |
|---|---|
| Security deposit | $2,000 |
| Annual interest rate | 1.5% |
| Months held | 18 |
| Interest method | Simple interest |
| Result | Value |
|---|---|
| Interest owed | $45.00 |
| Deposit plus interest | $2,045.00 |
| Interest per full year | $30.00 |
How to read the result
Rules on whether interest is owed, the rate and when it must be paid differ by state and city. Some require annual payment or credit against rent.
Keep deposits in the type of account your local law requires, and record the rate and dates.
Deposit interest rules vary by jurisdiction. Check local law.
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Questions
Questions about this tool
The things clients actually want to know — costs, timelines, ownership and what happens after launch.
Only where state or local law requires it; many places do not.
Either a fixed statutory rate or a rate published each year by the local authority, depending on the place.
Some places require annual payment or credit; others at the end of the tenancy.
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