Interest Rates for leases begun in the following years:

2009 0.12%
2008 1.26%
2007 1.68%
2006 1.71 %
2005 1.01%
2004 0.42%
2003 0.52%
2002 0.83%
2001 3.10%
2000 2.71%
1999 2.63%
1998 3.38%
1997 3.42%
1987-7/1/1997 5.00%

[Note: These are the interest rates for the city of Chicago only]

To qualify for interest in the City of Chicago you must live:

* in a building not occupied by the owner or owner occupied building of 7 units or more

To calculate how much interest is due:

* multiply the total deposit amount by the percentage rate for each year separately
* if more than one year owed add all totals together for final amount

Tenants must reside in unit for at least six months or more in order to be eligible for interest Must be paid within 30 days of tenant’s year anniversary

Legally, the landlord only has to go back five years (it is always a good idea to collect interest every year).