Security Deposit Interest Calculator
Calculate how much interest your landlord owes you on your security deposit
Did You Know? Some States Require Interest on Deposits
In Florida, Illinois, Massachusetts, Maryland, New Jersey, New York, Ohio, Pennsylvania, landlords may be required to pay you interest on your security deposit. If they didn't, you may be owed additional money. Use this calculator to find out how much.
Calculate Your Deposit Interest
Florida Interest Rules
Legal Basis
Fla. Stat. § 83.49(1)
Who Qualifies
All rental deposits
Interest Rate
75% of account rate OR 5% simple
Landlord chooses: 75% of annualized average interest rate payable on account, or 5% simple interest per year
Payment Frequency
at termination
Exceptions
- •Deposits held in non-interest-bearing accounts (landlord must notify)
- •Commercial leases
Frequently Asked Questions
What if my landlord didn't pay me interest?
If your landlord was required to pay interest but didn't, you can include this amount in your demand letter. The unpaid interest is additional money they owe you beyond your deposit.
How do I know the correct interest rate?
Landlord chooses: 75% of annualized average interest rate payable on account, or 5% simple interest per year. Check your state's official website or banking department for the current rate.
Can I add interest to my small claims case?
Yes! If your landlord was required to pay interest but didn't, you can add this to your claim. Make sure to show your calculation and cite Fla. Stat. § 83.49(1).