Security Deposit Interest Calculator — Ohio
Calculate the interest you owe a Ohio tenant on their security deposit, using the state's own rule and statute.
Used to compute the amount exempt from interest in this state.
This rate is set by statute. You can lower it if your bank paid less.
Interest owed to tenant
$197.80
- Time held
- 2.03 yrs
- Total to return
- $2,197.80
Ohio rule
Deposits over $50 or one month's rent (whichever is greater) earn 5% per year on the excess, once the tenant has occupied the unit for six months, paid annually.
When paid: Annually; interest accrues only on the qualifying excess amount.
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 Ohio treats security deposit interest
Deposits over $50 or one month's rent (whichever is greater) earn 5% per year on the excess, once the tenant has occupied the unit for six months, paid annually.
When it must be paid: Annually; interest accrues only on the qualifying excess amount.
Worked example
Example: a $1,500.00 deposit held for 2 years at 5.00% per year. After excluding the $1,000.00 exempt amount, interest is computed on $500.00. Simple interest owed ≈ $50.00, so the landlord returns about $1,550.00 in total. (Rates can change year to year — confirm the current figure.)Last verified June 10, 2026.
Ohio security deposit obligations
Even where interest isn't required, Ohio still regulates the deposit itself: you generally must return it within 30 days of move-out (Ohio Rev. Code § 5321.16). You must include an itemized statement of any deductions. Up to 2x the wrongfully withheld amount plus fees.
Open the Ohio deposit return tracker to confirm the deadline and build an itemized deductions statement.
Ohio security deposit interest FAQ
Do landlords have to pay interest on security deposits in Ohio?+
Yes. Deposits over $50 or one month's rent (whichever is greater) earn 5% per year on the excess, once the tenant has occupied the unit for six months, paid annually. (Ohio Rev. Code § 5321.16).
How is security deposit interest calculated in Ohio?+
Interest is simple (non-compounded). Multiply the deposit above the exempt amount by the annual rate and by the number of years held. Interest only begins after the deposit has been held 6 months.
When must Ohio landlords pay the interest to the tenant?+
Annually; interest accrues only on the qualifying excess amount.
When must a Ohio landlord return the security deposit?+
Generally within 30 days of move-out (Ohio Rev. Code § 5321.16). 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.