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Security Deposit Interest Rules & Worksheet
Review a state's deposit-interest rule, then test simple-interest arithmetic using a principal and rate you have independently verified.
Confirm the rate and calculation method first
State rules can use actual bank earnings, changing benchmark rates, full-month periods, a covered portion of the deposit, or statutory exceptions. Use the worksheet when the governing rule and your records support the principal, annual rate, date range, and simple-interest method.
Simple-interest scenario
Use this only when the official rule or account records support the principal, annual rate, and date range you enter.
Coverage and exceptions to verify
- A properly disclosed non-interest-bearing account may be used instead
- Interest is not payable when the tenant wrongfully terminates before the end of the rental term
- The cited provision governs residential tenancies
- Local ordinances, lease dates, payment defaults, account type, and unusual tenancy endings can change the analysis.
Organize the records before making a demand
Gather the lease, deposit receipt, annual account notices, bank or escrow records, and the official rate source. ReclaimDeposit can help organize your facts and request the calculation without presenting an unverified estimate as a legal conclusion.
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