Illinois Deposit Interest Rules
interest required (buildings with 25+ units)Illinois is one of 14 US jurisdictions that require landlords to pay interest on security deposits in covered rentals — the FAQ below covers which tenancies qualify. If your lease is silent about interest, the statutory obligation still applies where it covers you.
Educational information: generated from our Illinois law database (last updated 2024-01-01). Not legal advice.
How Illinois compares
14 of 51 US jurisdictions require landlords to pay interest on security deposits. Here is how Illinois compares with other states in our database.
Frequently asked questions
- Do landlords have to pay interest on security deposits in Illinois?
- Yes — Illinois law requires interest on held security deposits for buildings with 25+ units. Interest required for units in buildings with 25+ units statewide. Chicago RLTO: max 1.5 months, 5% interest, 45-day return. Must provide itemized statement of deductions.
- How large can the deposit itself be in Illinois?
- Illinois sets no statewide statutory maximum on the deposit amount — though Chicago's RLTO caps deposits at 1.5 months' rent; elsewhere it is negotiated in the lease.
- When do I get my security deposit back in Illinois?
- Generally within 30 days (45 in Chicago) after move-out, together with any interest owed.
Check Your Lease Against Illinois Law
Not sure whether your lease complies with Illinois law? Upload it and our analyzer flags problem clauses — deposit terms, entry rights, fees and prohibited provisions — using the same statute-backed database this page is generated from.
Analyze My Lease FreeEducational tool — not legal advice. First analysis is free, no signup required.
More Illinois lease law guides
Educational information generated from state statute data — not legal advice. Consult a licensed attorney in Illinois for your specific situation.