2014 State of Illinois Security Deposit Interest Rate set

2014illinoisrateThe new 2014 security deposit interest rate for those leases and tenancies governed by the Illinois Security Deposit Interest Act has been released by the Illinois Department of Financial and Professional Regulation Banking Division.  

For Illinois leases governed by the law, the security deposit interest rate to be paid on security deposits for 2014 is:

0.005%

Remember, the Security Deposit Interest Act applies to lessors of residential real property consisting of 25 units or more.

This entry was posted in Illinois, Security Deposit Interest Act and tagged , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *