deposit-interest

Security Deposit Interest in South Carolina: No State Requirement (2026)

South Carolina does not require landlords to pay interest on security deposits: S.C. Code § 27-40-510 (Residential Landlord and Tenant Act) caps … Calculator, statute citation, Last Verified date o

Rule verified: 2026-10-28

Quick answer

No — South Carolina law does not require landlords to pay interest on security deposits. South Carolina does not require landlords to pay interest on security deposits: S.C. Code § 27-40-510 (Residential Landlord and Tenant Act) caps week-to-week tenancy deposits at 1.5 months' periodic rent and § 27-40-410 requires return within 30 days - no interest provision anywhere in the Act. The rule comes from S.C. Code Ann. § 27-40-510 (security deposits); § 27-40-410 (30-day return). State statute (official text) · 2026-10-28

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State pre-filled: South Carolina — rule applied per S.C. Code Ann. § 27-40-510 (security deposits); § 27-40-410 (30-day return). Switch the state if your property is elsewhere.

StateSecurity deposit ($)Tenancy startTenancy end

What South Carolina law does — and does not — require

South Carolina has no statewide statute requiring interest on security deposits. South Carolina does not require landlords to pay interest on security deposits: S.C. Code § 27-40-510 (Residential Landlord and Tenant Act) caps week-to-week tenancy deposits at 1.5 months' periodic rent and § 27-40-410 requires return within 30 days - no interest provision anywhere in the Act.

The statute that governs deposits in South Carolina, S.C. Code Ann. § 27-40-510 (security deposits); § 27-40-410 (30-day return), covers how and when the deposit itself must be returned — it simply does not mandate interest on top.

How interest must be paid

Interest accrues as N/a. N/a - no interest obligation; deposit due within 30 days after rental agreement termination

Who the law applies to

All residential rentals statewide under the SCRLTA; week-to-week deposits capped at 1.5 months' periodic rent (no statutory cap for longer tenancies); unused deposit due within 30 days after termination; SCRLTA also exempts security deposits from attachment/preference under § 27-40-220

Cities in South Carolina that require interest

No county-level deposit-interest requirement found (Charleston/Greenville/Hilton Head angle searched); the SCRLTA covers residential rentals uniformly statewide.

States that do require deposit interest

South Carolina has no statewide requirement. If you are moving or own rentals across state lines, these states do — each rate is the statutory value verified on the state page:

State	Statutory rate
Massachusetts	5% per annum, or the lesser amount of interest actually received from
Ohio	5% per annum
Maryland	greater of 1.5%/year or U.S. Treasury 1-year yield curve rate (leases
Minnesota	1% per annum
New York	Interest actually accrued/paid on the deposit in the interest-bearing

The statute behind it

| Field | Value | | --- | --- | --- | | Citation | S.C. Code Ann. § 27-40-510 (security deposits); § 27-40-410 (30-day return) | | Official text | www.scstatehouse.gov | | Last verified | 2026-10-28 |

Cross-checked against: DepositHawk - Security Deposit Interest in South Carolina (states no interest owed), Roost - South Carolina Renters Rights (cites § 27-40-510).

Statutes get amended. If you are relying on this page — for a move-out, a dispute, or a lease draft — click through to the official text and confirm the current wording.

FAQ

Does South Carolina require landlords to pay interest on security deposits?

No. South Carolina law does not mandate interest; whatever the lease says governs. No county-level deposit-interest requirement found (Charleston/Greenville/Hilton Head angle searched); the SCRLTA covers residential rentals uniformly statewide.

How is deposit interest calculated in South Carolina?

South Carolina does not require landlords to pay interest on security deposits: S.C. Code § 27-40-510 (Residential Landlord and Tenant Act) caps week-to-week tenancy deposits at 1.5 months' periodic rent and § 27-40-410 requires return within 30 days - no interest provision anywhere in the Act. The calculator at the top of this page reflects South Carolina's rules where a numeric value exists.

When do I get the interest?

N/a - no interest obligation; deposit due within 30 days after rental agreement termination

Can my lease require the landlord to pay interest anyway?

Yes — a lease can always give you more than state law requires, never less. If your South Carolina lease promises interest, that promise is enforceable as a contract even though no statute mandates it.

Independent second source · 2026-10-28