Security Deposit Interest Calculator — Florida
Calculate the interest you owe a Florida tenant on their security deposit, using the state's own rule and statute.
This rate is set by statute. You can lower it if your bank paid less.
Interest owed to tenant
$202.87
- Time held
- 2.03 yrs
- Total to return
- $2,202.87
Florida rule
Interest is only owed if the landlord holds the deposit in an interest-bearing account. If so, the tenant receives at least 75% of the account's annualized average rate OR 5% simple interest — the landlord's choice. No interest is owed if the deposit is in a non-interest account or covered by a surety bond.
When paid: At least annually, paid or credited toward rent.
Last verified June 10, 2026.
Not legal advice. LandlordKit provides general informational tools, not legal advice. Landlord-tenant laws change and vary by city and county. Verify the cited statute and consult a licensed attorney before acting on any result.
How Florida treats security deposit interest
Interest is only owed if the landlord holds the deposit in an interest-bearing account. If so, the tenant receives at least 75% of the account's annualized average rate OR 5% simple interest — the landlord's choice. No interest is owed if the deposit is in a non-interest account or covered by a surety bond.
When it must be paid: At least annually, paid or credited toward rent.
Worked example
Example: a $1,500.00 deposit held for 2 years at 5.00% per year. Simple interest owed ≈ $150.00, so the landlord returns about $1,650.00 in total. (Rates can change year to year — confirm the current figure.)Last verified June 10, 2026.
Florida security deposit obligations
Even where interest isn't required, Florida still regulates the deposit itself: you generally must return it within 15 days (or 30 days if you're itemizing deductions) of move-out (Fla. Stat. § 83.49). You must include an itemized statement of any deductions. Tenant must object to a claim within 15 days.
Open the Florida deposit return tracker to confirm the deadline and build an itemized deductions statement.
Florida security deposit interest FAQ
Do landlords have to pay interest on security deposits in Florida?+
Yes. Interest is only owed if the landlord holds the deposit in an interest-bearing account. If so, the tenant receives at least 75% of the account's annualized average rate OR 5% simple interest — the landlord's choice. No interest is owed if the deposit is in a non-interest account or covered by a surety bond. (Fla. Stat. § 83.49).
How is security deposit interest calculated in Florida?+
Interest is simple (non-compounded). Multiply the deposit by the annual rate and by the number of years held. Interest accrues from the start of the tenancy.
When must Florida landlords pay the interest to the tenant?+
At least annually, paid or credited toward rent.
When must a Florida landlord return the security deposit?+
Generally within 15 days of move-out (30 days if deductions are itemized) (Fla. Stat. § 83.49). Use the LandlordKit deposit return tracker for the exact rule and an itemized statement.
Is the LandlordKit security deposit interest calculator free?+
Yes — it's completely free, requires no signup, and you can download a PDF interest statement to give your tenant.
Other states
Need the full picture? See the security deposit interest calculator for all states.