Security Deposit Interest Calculator — Michigan
Michigan has no statewide law requiring deposit interest. Here's what that means and how to calculate a figure anyway.
No statewide interest requirement
Michigan does not require landlords to pay interest on security deposits. Some cities have their own rules, and your lease can still promise interest. You can still calculate a figure below.Interest owed to tenant
$0.00
- Time held
- 2.03 yrs
- Total to return
- $2,000.00
Michigan rule
This state does not have a statewide law requiring landlords to pay interest on security deposits. Some cities may have their own rules, and the lease can still promise interest.
When paid: Not applicable.
Last verified June 1, 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 Michigan treats security deposit interest
This state does not have a statewide law requiring landlords to pay interest on security deposits. Some cities may have their own rules, and the lease can still promise interest.
When it must be paid: Not applicable.
Worked example
Because Michigan has no statewide interest requirement, a landlord holding a $1,500 deposit for two years generally owes $0 in interest — though the lease or a local ordinance could change that.Last verified June 1, 2026.
Michigan security deposit obligations
Even where interest isn't required, Michigan still regulates the deposit itself: you generally must return it within 30 days of move-out (Mich. Comp. Laws § 554.609). You must include an itemized statement of any deductions.
Open the Michigan deposit return tracker to confirm the deadline and build an itemized deductions statement.
Michigan security deposit interest FAQ
Do landlords have to pay interest on security deposits in Michigan?+
No. Michigan has no statewide law requiring landlords to pay interest on security deposits. Individual cities may have their own ordinances, and a lease can still promise interest.
When must a Michigan landlord return the security deposit?+
Generally within 30 days of move-out (Mich. Comp. Laws § 554.609). 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.