Chicago and Illinois Security Deposit Interest Rates

Historical and Current Interest Rates under
Illinois and Chicago Security Deposit Law

Time Period Chicago Illinois
Interest rate for period from Jan 1, 2014 to Dec 31, 2014
Interest rate for period from Jan 1, 2013 to Dec 31, 2013
Interest rate for period from Jan 1, 2012 to Dec 31, 2012
0.013%
0.023%
0.057%
TBD
0.005%
0.005%
Interest rate for period from Jan 1, 2011 to Dec 31, 2011 0.073% 0.195%
Interest rate for period from Jan 1, 2010 to Dec 31, 2010 0.073% 0.095%
Interest rate for period from Jan 1, 2009 to Dec 31, 2009 0.12% 0.25%
Interest rate for period from Jan 1, 2008 to Dec 31, 2008 1.26% 0.35%
Interest rate for period from Jan 1, 2007 to Dec 31, 2007 1.68% 0.50%
Interest rate for period from Jan 1, 2006 to Dec 31, 2006 1.71% 0.55%
Interest rate for period from Jan 1, 2005 to Dec 31, 2005 1.01% 0.40%
Interest rate for period from Jan 1, 2004 to Dec 31, 2004 0.42% 0.30%
Interest rate for period from Jan 1, 2003 to Dec 31, 2003 0.52% 0.40%
Interest rate for period from Jan 1, 2002 to Dec 31, 2002 0.83% 0.45%
Interest rate for period from Jan 1, 2001 to Dec 31, 2001 3.10% 1.73%
Interest rate for period from Jan 1, 2000 to Dec 31, 2000 2.71% 1.73%
Interest rate for period from Jan 1, 1999 to Dec 31, 1999 2.63% 1.88%
Interest rate for period from Jan 1, 1998 to Dec 31, 1998 3.38% 2.50%
Interest rate for period from Jan 1, 1997 to Dec 31, 1997 3.42% 2.50%
1994 to 1996 security deposit interest rate 5.00% 2.50%
1993 and prior 5.00% 5.00%
Notes:

Please remember, in Chicago, owner occupied buildings of six or fewer units are not required to pay interest on security deposits pursuant to the Chicago Residential Landlord Tenant Ordinance.Throughout the State of Illinois, residential real property containing twenty five units or less is exempt from the Illinois Security Deposit Interest Return Act.Other municipalities (Oak Park and Mt. Prospect) follow the Illinois rate.Within the City of Evanston: Interest rates are the same as Chicago rates from 2003 through 2007.  From 1976 to 2002, the Evanston rate was 5.00% and for 1975, the Evanston rate was 4.00%Always check with the local municipality to be sure you are using the appropriate interest rate for security deposits!Return to CRLTO table of contents