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BC Security Deposit Interest Calculator

Calculate the interest owed on a security or pet damage deposit in British Columbia. BC compounds interest every year on the anniversary of the deposit and pays it when the deposit is returned.

Rates last verified September 23, 2026

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2026 rate
Method
When it's paid

Estimate for information only, not legal advice. Rates last verified September 23, 2026.

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Deposit Interest - 2026

2.1% simple

Unit 101 J. Smith $1,500 $31.50

Unit 204 A. Chen $1,200 $25.20

Unit 305 M. Patel $950 $19.95

Journal entries posted $76.65

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How deposit interest works in British Columbia

The rate is 4.5% below the prime lending rate of the Province's principal banker on January 1 of each year. It is 0% for 2026.
Interest is compounded once a year, on the anniversary of the date the deposit was paid.
The same rules apply to security deposits and pet damage deposits.
The landlord pays the interest along with the deposit when it is returned at the end of the tenancy.
Interest earned in earlier years (1.95% in 2023, 2.7% in 2024 and 0.95% in 2025) is still owed, even though the 2026 rate is 0%.

Official sources

British Columbia deposit interest rates by year

Period	Annual rate
2026 (current)	0%
2025	0.95%
2024	2.7%
2023	1.95%
2022	0%
2021	0%
2020	0%
2019	0%
2018	0%
2017	0%
2016	0%
2015	0%
2014	0%
2013	0%
2012	0%
2011	0%
2010	0%
2009	0%

Last verified September 23, 2026 against official government sources.

Calculators for other provinces

Frequently Asked Questions

Common questions from Canadian landlords and tenants about deposit interest

British Columbia Deposit Interest Questions

The 2026 rate is 0%, so no new interest builds up during 2026. Interest earned in 2023 (1.95%), 2024 (2.7%) and 2025 (0.95%) is still owed when the deposit is returned.

Compound. Interest is added to the deposit once a year on the anniversary of the date it was paid, so later years earn interest on the earlier interest too.

With the deposit, when it is returned at the end of the tenancy. BC landlords do not pay deposit interest every year.

In most provinces and territories, yes. The province sets the rate each year and the landlord owes that interest to the tenant. Quebec does not allow security deposits at all, in New Brunswick the deposit is held by the province and the interest goes to the Crown. Ontario does not allow damage deposits, but landlords must pay interest on a last month's rent deposit.

Multiply the deposit by the annual rate, then by the share of the year the deposit was held. When a deposit is held across several years, each year uses its own rate. Some provinces compound, so interest earned in earlier years also earns interest. This calculator handles both and shows the breakdown for each period.

This calculator is a free estimate for information only and is not legal advice. Rates and rules come from each province's official sources and were last verified on September 23, 2026. Always confirm with your provincial residential tenancy office before paying or returning a deposit.

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