Calulator for Security Deposit Interest

Under Measure H, housing providers pay interest on the security deposits they hold for tenants. The Pasadena Rental Housing Board calculates the interest rate each year by cherry-picking the five highest interest rates available in banks, and taking an average of those numbers. On September 27, 2023, the Rent Board declared that the interest rate payable over the course of 2024 is 0.41% of the deposit.  This amount must be calculated and paid by the end of January 2025. It may ONLY be paid in the form of a check or a rent credit. Electronic payments or cash payments are not permitted under Measure H.