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Free tool · Ontario
Rent deposit interest calculator
Ontario landlords must pay interest on a last month's rent deposit every year. Work out the amount, and how much of it can top up the deposit.
General information, not legal advice. Use the official Landlord and Tenant Board (LTB) forms and the Residential Tenancies Act as the authority. Results are estimates; check the official sources below.
What the law says (RTA section 106)
- The deposit cannot be more than one month's rent (or one rent period, if shorter).
- Interest is paid every year at the rent increase guideline in effect when the payment becomes due.
- The landlord may keep part of the interest to bring the deposit up to one month of the current rent; that part becomes part of the deposit.
- If the landlord does not pay the interest when due, the tenant may deduct it from a later rent payment.
- The deposit must be used for the rent of the last rent period, not for damage.
Official sources
- Residential Tenancies Act, 2006 — section 106 (rent deposit)
- LTB — A Guide to the Residential Tenancies Act
- ontario.ca — Residential rent increases
Rules last checked against these sources on 2026-10-29.