On January 8, 2021, the Illinois Department of Financial and Professional Regulation released its security deposit interest rate for security deposits governed by the Illinois Security Deposit Interest Act (765 ILCS 715). The rate for 2021 is .01%.
Better Late Than Never
Well, I guess January 6, 2020 is as good a day as any for the IDFPR to finally announce the Security Deposit Interest rate for security deposits governed by the Illinois Security Deposit Interest Act. That law applies to lessors “of residential real property, containing 25 or more units in either a single building or a complex of buildings located on contiguous parcels of real property”.
State Rate ReleasedThe folks at the Illinois IDFPR have finally issued a press release indicating the 2019 security deposit interest rate for leases of residential real property governed by the Illinois Security Deposit Interest Act which applies to lessors “of residential real property, containing 25 or more units in either a single building or a complex of buildings located on contiguous parcels of real property”.
Well, better late than never, the Illinois Department of Financial and Professional Regulation, Division of Banking today (1/8/18) released the new interest rate for security deposits governed by the Illinois Security Deposit Interest Act. That rate is
Illinois 2015 Security Deposit Interest Rate Announced The Illinois Department of Finance and Professional Regulation Division of Banking has finally announced today the interest rate affecting the interest to be paid to tenants on security deposits subject to the Illinois Security Deposit Interest Act (765 ILCS 715). For the fourth year in a row, the … Read more
The 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:
The 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