For 2024, the interest rate is 1.6%.Īs prescribed in section 2 of the Security Deposit Interest Rate Regulation under the Residential Tenancies Act and Mobile Home Sites Tenancies Act, this change will be effective January 1, 2024. ![]() ![]() Since January 1, 2009, the interest rate on security deposits has been 0%. Landlords can require a security deposit, sometimes referred to as a damage deposit, from their tenants when they move into rental premises.
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