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Deposit Interest Calculator

Calculate interest on security deposits using the deposit interest calculator.

How Interest is Calculated

Interest is calculated based on the rate set at the beginning of each year. Interest is compounded on the anniversary of the date the deposit was received by the landlord.

The interest on security deposits is determined by section 4 of the Residential Tenancy Regulation:

The rate of interest under section 38 (1) (c) of the Act [return of deposits] that is payable to a tenant on a security deposit or pet damage deposit is 4.5% below the prime lending rate of the principal banker to the Province on the first day of each calendar year, compounded annually.

Since the prime lending rate has been lower than 4.5% since 2009, the interest payable on deposits has been 0%.

Here’s an overview of interest rates used for the past few decades:

Period

Interest Rate

2009 - 2014

0.00%

2008

1.50%

2007

1.50%

2006

0.50%

2002 - 2005

0.00%

2001

3.00%

2000

2.00%

1999

2.25%

1998

1.50%

1997

0.25%

1996

3.00%

1995

3.50%

1994

1.00%

1993

2.75%

1992

3.50%

1991

8.25%

1990

9.00%

1989

7.75%

Feb. 1987 - Dec. 1988

5.25%

Apr. 1983 - Jan. 1987

8.00%

Jun. 1980 - Mar. 1983

12.00%

Dec. 1974 - May 1980

8.00%