WORKSHEET FOR SECURITY DEPOSIT INTEREST
Tenants that are eligible to receive interest
must:
 Be covered under the Chicago’s
Residential Landlord Tenants
Ordinance.
 Have lived at their residence for more
than six months.
Year Lease
Began
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997 and
earlier years
Interest Rate
.073%
0.12%
1.26%
1.68%
1.71%
1.01%
0.42%
0.52%
0.83%
3.10%
2.71%
2.63%
3.38%
5.00%
Interest Rate To Use When
Doing Calculations
.00073
.0012
.0126
.0168
.0171
.0101
.0042
.0052
.0083
.0310
.0271
.0263
.0338
.0500
Reference #1:
To be used if you were on a lease. If interest is owed for more than one year, calculate the interest for
each year separately then add them to get the total amount of interest owed.
__________________ X__________________=__________________
Deposit Amount
Interest Rate for
Year Lease Began
Amount Owed
For Year
Example (Lease Began May 1998 and Ended May 1999):
_______750________ X_____0.0338________=______25.35________
Deposit Amount
Interest Rate for
Year Lease Began
Amount Owed
For Year
Reference #2:
To be used if you paid rent on a month to month basis. When calculating the amount of interest owed per
month, round to the nearest hundredth. For example, if the amount owed per month is 2.1125, you would
round it to 2.11.
_________________ X_________________=_________________
Deposit Amount
_________________
Amount Owed
For Year
Interest Rate for
Year Lease Began
Amount Owed
For Year
_______12_______=_________________
Number of Months
In a Year
Amount Owed
Per Month
_________________ X_________________=_________________
Amount Owed
Per Month
Months on
Lease
Amount of
Interest Owed
Example (Month to Month Began March 1998 and Ended October 1998):
_______750_______ X_____0.0338_______=______25.35_______
Deposit Amount
______25.35______
Amount Owed
For Year
Interest Rate for
Year Lease Began
Amount Owed
For Year
_______12_______=_______2.11________
Number of Months
In a Year
Amount Owed
Per Month
_______2.11______ X________7________=_______14.77_______
Amount Owed
Per Month
Months on
Lease
Amount of
Interest Owed
Reference #3:
To be used if you were on a lease and ended on a month to month basis.
A) First calculate the amount owed for the year on a lease.
__________________ X__________________=__________________
Deposit Amount
Interest Rate for
Year Lease Began
Amount Owed
For Year
Example (Lease Began May 1998 and Ended May 1999):
_______750________ X_____0.0338________=______25.35________
Deposit Amount
Interest Rate for
Year Lease Began
Amount Owed
For Year
B) Then calculate the amount owed for the remaining months you resided at residence.
_________________ X_________________=_________________
Deposit Amount
_________________
Amount Owed
For Year
Interest Rate for
Year Lease Began
Amount Owed
For Year
_______12_______=_________________
Number of Months
In a Year
Amount Owed
Per Month
_________________ X_________________=_________________
Amount Owed
Per Month
Months on
Lease
Amount Owed
For Months
Example (Month to Month Began June 1999 and Ended December 1999)
_______750_______ X_____0.0263_______=______19.73_______
Deposit Amount
______19.73______
Amount Owed
For Year
Interest Rate for
Year Lease Began
Amount Owed
For Year
_______12_______=_______1.64________
Number of Months
In a Year
Amount Owed
Per Month
_______1.64______ X________7________=_______11.48_______
Amount Owed
Per Month
Months on
Lease
Amount Owed
For Months
C) Now calculate both totals to get the final amount of interest owed.
_________________ +_________________=__________________
Amount Owed
For Year
Amount Owed
For Months
Final Amount of
Interest Owed
Example
______25.35_______ +_____11.48________=_____36.83________
Amount Owed
For Year
Amount Owed
For Months
Final Amount of
Interest Owed