# North Dakota — Security deposit interest requirements by US state — which states make a landlord pay interest on a held deposit, and at what rate, quoted from the statute

For North Dakota, interest required is Yes; rate or how it's set is a federally insured interest-bearing savings or checking account for the benefit of the tenant; condition that triggers the duty is Not owed where the period of occupancy was less than nine months; citation is N.D. Cent. Code § 47-16-07.1(1), (3), recorded from its source on 2026-09-02.

- **Jurisdiction:** North Dakota _(our reading, not quoted from the source)_
- **Interest required:** Yes _(our reading, not quoted from the source)_
- **Rate or how it's set:** a federally insured interest-bearing savings or checking account for the benefit of the tenant _(verified: appears in the quote below)_
- **Condition that triggers the duty:** Not owed where the period of occupancy was less than nine months _(our reading, not quoted from the source)_
- **Citation:** N.D. Cent. Code § 47-16-07.1(1), (3) _(our reading, not quoted from the source)_

## What the source says

> The lessor of real property or a dwelling who requires money as a security deposit, however denominated, shall deposit the money in a federally insured interest-bearing savings or checking account for the benefit of the tenant. The security deposit and any interest accruing on the deposit must be paid to the lessee upon termination of a lease, subject to the conditions of subsection 2.

## Where each value comes from

This source states these in separate places, so each value is shown with the passage that states it.

### Condition that triggers the duty

> A lessor is not required to pay interest on security deposits if the period of occupancy was less than nine months in duration.

## Source

- https://www.ndlegis.gov/cencode/t47c16.pdf

Last verified: 2026-09-02. Review by: 2027-03-01.
Part of [Security deposit interest requirements by US state — which states make a landlord pay interest on a held deposit, and at what rate, quoted from the statute](https://referencesource.org/security-deposit-interest-requirements-by-state/).