Minnesota
For Minnesota, interest required is Yes; rate or how it's set is simple noncompounded interest at the rate of one percent per annum; condition that triggers the duty is No holding-period or minimum-deposit threshold; any interest amount less than $1 is excluded; citation is Minn. Stat. § 504B.178, subd. 2, recorded from its source on 2026-09-02.
- Jurisdiction
- Minnesota our reading
- Interest required
- Yes our reading
- Rate or how it's set
- simple noncompounded interest at the rate of one percent per annum verified
- Condition that triggers the duty
- No holding-period or minimum-deposit threshold; any interest amount less than $1 is excluded our reading
- Citation
- Minn. Stat. § 504B.178, subd. 2 our reading
Values marked our reading are our classification of what the source says — the source does not print them in those words. The quote below is the evidence for each one; judge it yourself.
What the source says
shall bear simple noncompounded interest at the rate of one percent per annum, computed from the first day of the next month following the full payment of the deposit
— revisor.mn.gov, retrieved 2026-09-02
Where each value comes from
The value above is stated away from the sentence quoted with the answer, so the passage that states it is shown here too.
Condition that triggers the duty
Any interest amount less than $1 shall be excluded from the provisions of this section.
— all from revisor.mn.gov, retrieved 2026-09-02
Source
- revisor.mn.govhttps://www.revisor.mn.gov/statutes/cite/504B.178