Service NL

Security Deposit Interest Calculator

Description: Under Section 14(7) of the Residential Tenancies Act, 2018 landlords are required to pay interest when they refund a security deposit to a tenant. Use this calculator to determine amount of interest accrued on a security deposit.

Interest Calculation

From 3/7/1980 to 3/7/2013 at $500

Year Number of Days Rate Amount Interest
1980 (300 days / 366 days) x 6% x $500 = $24.59
1981 (365 days / 365 days) x 6% x $500 = $30
1982 (365 days / 365 days) x 6% x $500 = $30
1983 (365 days / 365 days) x 6% x $500 = $30
1984 (366 days / 366 days) x 6% x $500 = $30
1985 (365 days / 365 days) x 6% x $500 = $30
1986 (365 days / 365 days) x 6% x $500 = $30
1987 (365 days / 365 days) x 6% x $500 = $30
1988 (366 days / 366 days) x 6% x $500 = $30
1989 (273 days / 365 days) x 6% x $500 = $30
1989 (92 days / 365 days) x 6.75% x $500 = $33.75
1990 (365 days / 365 days) x 8% x $500 = $40
1991 (365 days / 365 days) x 9% x $500 = $45
1992 (366 days / 366 days) x 5.5% x $500 = $27.5
1993 (365 days / 365 days) x 3% x $500 = $15
1994 (365 days / 365 days) x 1% x $500 = $5
1995 (365 days / 365 days) x 1.5% x $500 = $7.5
1996 (366 days / 366 days) x 3% x $500 = $15
1997 (365 days / 365 days) x 1% x $500 = $5
1998 (365 days / 365 days) x 1% x $500 = $5
1999 (365 days / 365 days) x 2.5% x $500 = $12.5
2000 (366 days / 366 days) x 2.5% x $500 = $12.5
2001 (365 days / 365 days) x 4% x $500 = $20
2002 (365 days / 365 days) x 1% x $500 = $5
2003 (365 days / 365 days) x 0% x $500 = $0
2004 (366 days / 366 days) x 0% x $500 = $0
2005 (365 days / 365 days) x 0% x $500 = $0
2006 (365 days / 365 days) x 0% x $500 = $0
2007 (365 days / 365 days) x 0% x $500 = $0
2008 (366 days / 366 days) x 1% x $500 = $5
2009 (365 days / 365 days) x 1% x $500 = $5
2010 (365 days / 365 days) x 0% x $500 = $0
2011 (365 days / 365 days) x 0% x $500 = $0
2012 (366 days / 366 days) x 0% x $500 = $0
2013 (66 days / 365 days) x 0% x $500 = $0
Original Deposit $500
+ Total Interest $523.34
Total $1023.34