From January 1, 2019 through December 31, 2019, the security deposit interest rate is set at 0.01% (unchanged since 2015).
For example, if a landlord collects a security deposit for $1,000.00, the landlord will owe $0.10 in interest to the tenant every 12 months.
The Security Deposit Interest Act (765 ILCS 715) requires that the lessor of residential real property, consisting of...