2020 Security Deposit Interest Rates (Chicago and Illinois)
Date postedJanuary 6, 2020
Posted By: Industry,
2020 Security Deposit Interest Rates - City of Chicago and State of Illinois
Each year the City of Chicago and State of Illinois are required to set the rate of interest that must be paid on security deposits for residential lease agreements. The new rates are effective January 1, 2020 through December 31, 2020.
The 2020 City of Chicago Security Deposit Interest Rate is 0.01 percent (same as 2019). Access security deposit information on the city's website.
The 2020 City of Chicago Security Deposit Interest rate addendum is now available. The addendum must be included in all Chicago, IL leases (even if your company does not collect security deposits). Download a PDF version of the addendum here.
The 2020 State of Illinois Security Deposit Interest Rate is 0.005 percent (same as 2019). Information is available on the state's website.