Minnesota Interest on deposits

Does a landlord have to pay interest on a security deposit in Minnesota?

Deposits earn simple, non-compounded interest of 1% a year, from the first day of the month after the deposit is fully paid until the deposit is returned. Interest under $1 is excluded.

Verified Source: Minn. Stat. § 504B.178, subd. 2 · last checked 2026-10-15