Interest payable on deposits for 2025 is 0.95%. This is based on a formula set in the Residential Tenancy Regulations which sets the interest rate at 4.5% below the prime lending rate, which was 5.45% on January 1, 2025.
Historical Context:
• From 2009 to 2022, the interest rate on deposits was 0% because the prime lending rate was below 4.5%.
• In 2023, the rate was 1.95%, and in 2024, it increased to 2.7%.
To utilize the RTB Deposit Interest Calculator to determine the amount of interest payable on deposits click on the link below
https://www.housing.gov.bc.ca/rtb/WebTools/InterestOnDepositCalculator.html