Prince Edward Island deposits and interest
The interest owed on a security deposit, worked out the way the Rental Office's calculator does (simple daily interest).
Interest owed
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- Deposit plus interest
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How this was calculated
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The rules
- A security deposit can be at most one month's rent (one week's for weekly tenancies). Only one deposit is allowed, so no separate pet deposit.
- Interest is the Canada Pension Plan policy rate on the year's first business day, minus 2%: 2.75% for 2026.
- Within 15 days after the tenancy ends, the landlord must return it with interest or apply to keep some. If they do neither, they owe double.