Interest typeSimple interest
Not compounded.
Minimum holding period6 months
No interest is due unless the deposit has been held at least six months.
Minimum deposit$50
Interest is payable only on deposits of $50 or more.
What to verify
- Date deposit was paid.
- Amount held.
- Full months held.
- Applicable statutory annual rate for each year.
- Interest included with the final refund.
Educational statewide guide. Local law, housing type, lease language and the facts can change the result. This page does not provide legal advice.