Chicago releases 2014 Security Deposit Interest Rate Summary

Chicago issues CRLTO Summary for 2014 Interest Rate Section 5-12-170 of the Chicago Residential Landlord and Tenant Ordinance requires a separate summary (in addition to the ordinance summary) “…describing the rights, obligations, and remedies of landlords and tenants with respect to security deposits, including the interest rate as well as the rate for each of … Read more

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:

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2013 City of Chicago CRLTO Secuirty Deposit Interest Rate set

2013 Chicago Interest Rate on Security DepositsThe Comptroller of the City of Chicago has issued its statement of the interest rate paid on passbook savings accounts, insured money market accounts and six month certificates of deposit at the commercial bank having its main branch located in the city and having the largest total asset value which sets the interest rate for landlords to charge under Section 5-12-080 of the Chicago Residential Landlord and Tenant Ordinance.

The rate for 2013 is

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State of Illinois sets 2013 security deposit interest rate

2013 Illinois security deposit interest rateThe Banking Division of the Illinois Department of Financial and Professional Regulation has issued its statement of the interest rate paid by the largest commercial bank with its main banking premises in Illinois which sets the interest rate for landlords to charge under the Illinois Security Deposit Interest Act.

The rate for 2013 is

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