Utility Deposit Interest Rate Set for 2019

Back to All News

Utility Deposit Interest Rate Set for 2019

January 2, 2019

The interest rate to be paid on utility deposits has been set at 2.7 percent for 2019. The rate has been set by the Commissioner of the Minnesota Department of Commerce.

Minnesota law requires that all privately or publicly owned water, gas, telephone, cable television, electric light, heat or power companies pay the stipulated rate on customer deposits.

More information is available on the MN DOC website.