Security Deposit Interest: $2,000 at 5% for 12 Months
A $2,000 security deposit held for 12 months at 5% annual interest earns approximately $100 in interest.
How to use this tool
- Enter security deposit, annual interest rate and months held in the fields above.
- Results update instantly as you type — or click Calculate.
- Read your interest earned and the full breakdown beneath it.
Calculate how much interest your landlord owes you on a $2,000 security deposit after one year.
Frequently asked questions
- Does every state require security deposit interest?
- No. Only some states and cities require landlords to pay interest on security deposits. States such as Connecticut, Massachusetts, and New Jersey have such laws; many others do not.
- How is the interest rate set?
- The rate is typically set by statute or ordinance and may change annually. Common methods include a fixed statutory rate or a rate tied to a savings-account benchmark.
- When must the deposit and interest be returned?
- Most jurisdictions require return within 14–30 days of lease termination, along with an itemized deduction statement. Missing this deadline can result in penalties of double or triple the deposit amount.