Vuokravakuustili

Increased transparency and trust with rental security deposit account

With our rental security deposit account, you can place the security deposit in your own account and see it in Nordea Mobile and Netbank throughout your tenancy.

The deposit held in the account is pledged as security for your landlord, allowing them to rest assured that, if needed, they can use the deposited funds to cover any damage you’re responsible for.

If you’re aged 18 to 27, you can open a rental security deposit account free of charge. For other customers, opening a rental security deposit account costs 30 or 40 euros.

You may also benefit from interest on the account – once your tenancy ends and your landlord releases the pledge, you’ll receive your deposit back with interest.

You can open a rental security deposit account easily in Nordea Mobile or Netbank if you rent a home from a private landlord.

Rental security deposit account in brief:

The account is a PerkAccount that pays 0.4% interest.
PerkAccounts are covered by the Finnish deposit guarantee scheme.
First, the tenant places the security deposit agreed in the tenancy agreement in the account, and then we will pledge the deposit as security for the landlord.
Pledging the account means that only the landlord can withdraw funds from the account or release the pledge while it remains in place.
When the landlord releases the pledge at the end of the tenancy, the leaving tenant regains control of the account, which then becomes a standard PerkAccount.

How to open a rental security deposit account

It is your responsibility as the tenant to open a rental security deposit account. To do this, you must be at least 18 years old. Before you open a rental security deposit account, make sure that you have signed the tenancy agreement.

You will need to give the following information:

Street address, postal code and city of your rental home.
Name, personal identity number and phone number of your landlord.
Amount of the security deposit.
Account from which you want to transfer the security deposit and the account opening fee (if any).

We will open your new rental security deposit account in 1 to 3 banking days.

Once the account has been opened, we will send you a pre-filled form that you can present to your landlord to show that the account has been pledged. You can deliver the form to your landlord digitally or as a paper copy.

Landlord can release the pledge at the end of the tenancy

At the end of the tenancy, the tenant cannot regain control of the funds deposited in the account until the landlord releases the pledged rental security deposit account.

If the tenant has caused no damage, the landlord must release the pledge within a reasonable time and without any unnecessary delays.

After the pledge is released, the rental security deposit account will become a normal PerkAccount, which is under the full control of its holder, i.e. the former tenant.

Landlord can withdraw funds from rental security deposit account

The landlord can withdraw some or all of the funds placed in a rental security deposit account to cover damage caused by the tenant or unpaid rents.

If the landlord withdraws funds, they will usually do so at the end of the tenancy.

We don’t require the landlord to provide any evidence or documentation if they decide to withdraw the whole security deposit or part of it. The landlord and the tenant will need to determine between themselves whether the landlord is genuinely entitled to the funds based on the tenancy agreement.
The Consumer Disputes Board can settle most disputes between private individuals concerning rental security deposits. In other cases, disputes can be submitted to a district court.

Rental security deposit account – fees

Opening fees for a rental security deposit account
Itemisation	Fee
Opening of a rental security deposit account in Nordea Mobile or Netbank	30,00 €
Opening of a rental security deposit account through our customer service	EUR 40.00
Opening of a rental security deposit account when you’re 18 to 27 years old	0,00 €

Your rental security deposit account will be a PerkAccount.