Does a landlord have to pay interest on a security deposit in Illinois?
Yes. Illinois requires a landlord to pay the tenant interest on a security deposit. Interest required on buildings with 25+ units held 6+ months; Chicago RLTO applies its own rate. The deposit itself must be returned within 45 days of the end of the tenancy. This is 765 ILCS 710/1; 765 ILCS 715/1.
| What | Illinois |
|---|---|
| Interest payable | Yes |
| How it works | Interest required on buildings with 25+ units held 6+ months; Chicago RLTO applies its own rate. |
| Deadline to return the deposit | 45 days |
Source
765 ILCS 710/1; 765 ILCS 715/1 — last checked 2026-09-15.
This is a summary of a published statute, not legal advice. Rules change, local ordinances can add to them, and the terms of a specific lease may differ. Check the citation and speak to a lawyer before acting.
How Seayora uses this rule
Seayora computes the deadline this rule sets from the tenancy’s own dates, shows it on the lease and the deposit statement, and reminds the landlord before it falls due — so the answer above is not reference material sitting beside the product, it is the rule the product enforces.
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The same question in other states
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