2023 Deposit Interest Rate

The interest rate for Security and Pet Damage Deposits for 2023 has been calculated at 1.95%. This calculation, as outlined in the Residential Tenancy Regulations, is 4.5% below the prime lending rate for BC (6.45%). Just as with any other year, to calculate how that effects the repayment of a deposit landlords should utilize the RTB’s Deposit Interest Calculator found at http://www.housing.gov.bc.ca/rtb/WebTools/InterestOnDepositCalculator.html