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Newfoundland and Labrador Security Deposit Interest Calculator

Calculate the interest owed on a security deposit in Newfoundland and Labrador. The rate is 0% for 2026, but interest earned at 1% in 2024 and 2025 is still owed when the deposit is refunded.

Rates last verified

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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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How deposit interest works in Newfoundland and Labrador

  • The rate is the average Bank of Canada rate for the 12 months ending November 30 of the previous year, minus 4%, rounded up to a whole number. It is 0% for 2026.
  • Interest is simple and is not compounded.
  • The landlord pays the interest when the deposit is refunded.
  • Interest earned at 1% in 2024 and 2025 is still owed, even though the 2026 rate is 0%.

Official sources

Newfoundland and Labrador deposit interest rates by year

Period Annual rate
2026 (current) 0%
2025 1%
2024 1%
2023 0%
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%

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

Newfoundland and Labrador Deposit Interest Questions

0%. The rate was 1% in 2024 and 2025, and 0% from 2010 through 2023.

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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