Rhode Island Deposit Interest Rules
no interest requiredRhode Island has no statewide requirement that landlords pay interest on security deposits (14 of 51 US jurisdictions do). Your lease may still promise interest — if it does, that promise is enforceable.
Educational information: generated from our Rhode Island law database (last updated 2024-01-01). Not legal advice.
How Rhode Island compares
14 of 51 US jurisdictions require landlords to pay interest on security deposits. Here is how Rhode Island compares with other states in our database.
| State | Deposit Interest Rules |
|---|---|
| Rhode Island | no interest required |
| South Carolina | no interest required |
| South Dakota | no interest required |
| Tennessee | no interest required |
| Texas | no interest required |
Frequently asked questions
- Do landlords have to pay interest on security deposits in Rhode Island?
- No statewide statute requires it in Rhode Island, though local ordinances or your lease can add the obligation. Maximum 1 month rent. Additional furniture deposit allowed if furniture value exceeds $5,000. Return within 20 days after termination or receiving forwarding address. Penalty: 2x amount wrongfully withheld plus attorney fees.
- How large can the deposit itself be in Rhode Island?
- Rhode Island generally allows at most 1 month's rent as a security deposit.
- When do I get my security deposit back in Rhode Island?
- Generally within 20 days after move-out.
Check Your Lease Against Rhode Island Law
Not sure whether your lease complies with Rhode Island 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 Rhode Island lease law guides
Educational information generated from state statute data — not legal advice. Consult a licensed attorney in Rhode Island for your specific situation.