Does my Ohio landlord owe me interest on my security deposit?

Under Ohio Revised Code § 5321.16, landlords must place your security deposit in an interest-bearing account. The rate is Statutory fixed rate of 5% per annum.

Can I get my money back if my landlord overcharged a late fee?

Yes. Under Ohio Revised Code § 5321.16, tenants may be entitled to treble damages (2× the deposit amount) if the landlord violates deposit requirements.

OH • Verified 2026 Data

Ohio Security Deposit Interest Calculator

This free Ohio security deposit interest calculator determines exactly how much interest your landlord owes you under Ohio Revised Code § 5321.16.

Ohio Revised Code § 5321.16 Last verified: 2026-05-25

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Security Deposit Details

Enter your original deposit amount and move-in date to calculate interest owed under Ohio law.

Deposit Amount

Move-in Date

Note: Under Ohio Revised Code § 5321.16, interest only begins accruing after 6 months of tenancy. If your tenure is shorter, no interest is owed yet.

How Security Deposit Interest Works in Ohio

Deposit Details

Enter deposit amount and move-in date for calculation.

Compliance

We check if bank disclosure requirements were met.

Your Claim

Get your breakdown and generate a demand letter.

Ohio Deposit Interest Rules

Interest Rate Fixed 5.00% annually

⏱

Waiting Period Interest only begins accruing after 6 months of tenancy.

2×

Treble Damages Violations may entitle you to 2× the deposit amount in court.

Legal basis: Ohio Revised Code § 5321.16. Last verified: 2026-05-25.

Key Details for Ohio

Interest only applies to deposits exceeding $50 or one month's rent, whichever is greater

Tenant must have a tenancy of at least 6 months before interest accrues

Interest accrues annually from the date the deposit was made

Landlord must pay interest annually and upon termination of the rental agreement

No administrative fee deduction is permitted

Landlord must return deposit plus interest within 30 days of lease termination

Failure to comply may expose the landlord to double (2×) damages per § 5321.16(C)

How Ohio Security Deposit Interest Works

Ohio has a uniquely structured deposit interest system. Under Ohio Revised Code § 5321.16, interest is required only when two conditions are met: (1) the deposit exceeds $50 or one month's rent, whichever is greater, and (2) the tenant has been in the unit for at least 6 months.

When interest is required, the rate is a flat 5% per year — one of the highest fixed statutory rates in the country. Unlike states with bank-actual or variable rates, Ohio's 5% is guaranteed regardless of what the bank pays. Interest accrues annually from the date the deposit was made, and the landlord must pay it annually and upon termination of the rental agreement.

No administrative fee deduction is permitted in Ohio — the full 5% goes to the tenant. The landlord must return the deposit plus all accrued interest within 30 days of lease termination, with an itemized statement of any deductions. Failure to comply may expose the landlord to double (2×) damages under § 5321.16(C).

Example: Ohio Deposit Interest Calculation

Your monthly rent is $900 and your landlord collected a $1,200 deposit. You've been in the unit for 2 years.

→ Interest threshold: greater of $50 or 1 month rent ($900) → $900

→ Your deposit ($1,200) exceeds $900 ✓

→ Tenure: 2 years (exceeds 6-month minimum) ✓

→ Annual interest: $1,200 × 5% = $60.00/year

→ Over 2 years: $60.00 × 2 = $120.00 total interest

→ No admin fee — full $120.00 goes to tenant

→ Total owed at move-out: $1,200 + $120.00 = $1,320.00

Your landlord owes you $1,320.00 within 30 days of move-out. Ohio's flat 5% rate means deposit interest can be significant — much more than in states with bank-actual rates.

Frequently Asked Questions

What is the interest rate on security deposits in Ohio? ▼

A flat 5% per year under Ohio Revised Code § 5321.16. This is one of the highest fixed rates in the country and applies regardless of what the bank actually pays. No administrative fee deduction is permitted.

Does every Ohio deposit earn interest? ▼

No. Two conditions must be met: (1) the deposit must exceed $50 or one month's rent, whichever is greater, and (2) the tenant must have occupied the unit for at least 6 months. If either condition is not met, no interest is required.

When does Ohio deposit interest start accruing? ▼

Interest accrues from the date the deposit was made, but only after the tenant has been in the unit for at least 6 months. Once the 6-month threshold is passed, interest is calculated retroactively from the original deposit date — meaning you get credit for those first 6 months.

What happens if my Ohio landlord doesn't pay deposit interest? ▼

Under § 5321.16(C), you may be entitled to double (2×) damages — meaning twice the amount wrongfully withheld (both the deposit and the interest). Send a written demand letter citing the statute before pursuing court action.