Your deposit earns 1% a year, and it must be returned, or the deductions explained in writing, within 3 weeks after you move out.
From Minn. Stat. § 504B.178, read Oct 6, 2026.Show the law
“shall be held by the landlord for the tenant who is party to the agreement and shall bear simple noncompounded interest at the rate of one percent per annum …”
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Every rule here, word for word (1)
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Minnesota lawIn force
Minnesota security deposit interest, return and withholding rules
How big can the deposit be?
The law here sets interest and a return deadline.
Your deposit earns 1% a year, and it must be returned, or the deductions explained in writing, within 3 weeks after you move out.
Who it covers
Covers: Residential rental deposits securing performance of a rental agreement, other than deposits that are exclusively advance rent.
Exemptions: Deposits that are exclusively advance payment of rent.
In force since
1999
The law, word for word
“shall be held by the landlord for the tenant who is party to the agreement and shall bear simple noncompounded interest at the rate of one percent per annum …”