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.

Please note:  The correct interest rate for 2007 will not be entered in the calculator until January 3, 2007.  If you use the calculator before that date, you will be making the calculation with the 2006 rate.