Property Tools
Rental Deposit Interest Calculator
Free Rental Deposit Interest Calculator for South Africa. Calculate interest earned on rental deposits according to Section 5(3) of the Rental Housing Act.
Legal Compliance
Per Section 5(3) of the Rental Housing Act, landlords must invest the deposit in an interest-bearing savings account and pay the tenant the interest earned at the actual savings account rate.
Section 5(3)
Rental Housing Act
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SARB Meeting Schedule
Banks often adjust savings rates after SARB meetings. If your deposit spans multiple rate periods, use the Variable Rates option:
Use Variable Rates if your bank changed the savings account rate during the deposit period.
How It Works
Enter your rental deposit amount and the period (start and end dates)
Choose between single rate or variable rates to account for SARB meetings
Get instant results with detailed monthly breakdown and total interest earned
About This Calculator
Designed specifically for South African landlords and tenants to ensure compliance with the Rental Housing Act. Automatically applies the correct interest rate as required by law.
Provides a detailed monthly breakdown of interest earned, making it easy to verify calculations and maintain transparency between landlords and tenants.
Common Questions
Frequently Asked Questions
How does the Rental Deposit Interest Calculator work?
The calculator uses Section 5(3) of the Rental Housing Act, which requires landlords to invest the deposit in an interest-bearing savings account and pay the tenant the interest earned. Enter your deposit amount, the savings account interest rate, start and end dates, and the calculator will show you the interest earned with a detailed monthly breakdown.
What interest rate should I use?
You should enter the actual interest rate of the savings account where the deposit is held. This is the rate your bank pays on the account — not the SARB repo rate. Check your bank statement or contact your bank to confirm the current rate.
Why should I use variable interest rates?
If the savings account rate changed during the deposit period (for example, if the bank adjusted its rate), you can add separate entries for each period to get a more accurate total. This is especially useful for long-term deposits.
Is this Rental Deposit Interest Calculator free to use?
Yes, our Rental Deposit Interest Calculator is completely free to use. No registration or payment required. Simply enter your details and get instant results.
Why do landlords need to pay interest on deposits?
Section 5(3) of the Rental Housing Act requires landlords to pay interest on rental deposits to compensate tenants for the use of their money during the rental period. This ensures fair treatment and transparency in rental agreements.