Security and pet damage deposit interest is calculated based on an interest rate set at the beginning of each year. Interest on a deposit accumulates from the date the deposit is received by the landlord to the date the deposit is returned to the tenant. Interest compounds on the anniversary of the date the deposit was received by the landlord.
The calculator will determine interest on deposits received on or after December 1, 1974.
Note: the deposit interest rate has been 0% since 2009, so deposits collected after 2008 will not earn any deposit interest.
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