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What is a rental security deposit?

When you rent a home, the landlord will almost always require a security deposit. It can equal a maximum of three months’ rent, but is typically the equivalent of 1 or 2 months’ rent. 

We recommend that you, as a tenant, place the deposit in a rental security deposit account. Once you’ve placed the deposit, your landlord may use it to cover any unpaid rent or damage you’re responsible for.

At the end of the tenancy, you will usually get back the full security deposit or at least part of it – provided that you haven’t caused significant financial loss to the landlord. 

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

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. 

Read more about PerkAccount

How to open a rental security deposit account
When your tenancy ends
Instructions for private landlords – accounts opened after 18 March 2026
Instructions for other landlords
Terms and conditions
Prices

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.

Renting a home from a private landlord

If you rent a home from a private landlord, you can open a rental security deposit account in Nordea Mobile or Netbank. Go to the relevant form by selecting Services, then Accounts and payments and finally Rental security deposit account. 

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.

Open a rental security deposit account

Renting from a company

If you rent a home from a company, you can open a rental security deposit account by contacting us.

Contact us

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. 

Read more on the Consumer Disputes Board’s website 

How private landlords can release the pledge or withdraw money from the account

The following instructions apply to private landlords when the rental security deposit account has been opened after 18 March 2026. The tenant has received the form “Notice of the pledging of an account as a rental security deposit account” from us when they opened the account.

When the landlord wants to close the rental security deposit account or withdraw funds from it, they must send us a message via the Nordea Omaposti service.  

In the message, the landlord can:  

  • release the pledged rental security deposit account  
  • withdraw a part or all of the deposit placed in the rental security deposit account  
  • transfer the deposit to a new landlord.  

If the landlord withdraws the deposit in full, we can close the account at the landlord’s request.

How to send Omaposti messages

Log in to Omaposti using the online banking credentials you have from us or another Finnish bank and send us a message with the topic “Rental security deposit account”.

Include the following information in your message:

  • Street address, postal code and city of the rental property.
  • Your name, personal identity number and phone number.
  • Number of the rental security deposit account.
  • What you want to do. For example, release the account for the tenant and/or withdraw funds from the account. Also include the number of the account you want the funds transferred to.

Go to Omaposti

 

How landlords can release the pledge or withdraw money from the account

These instructions apply to companies operating as landlords and to private landlords when the rental security deposit account has been opened before 18 March 2026.  

We have given the form “Advice of rent security” to both the tenant and the landlord.

To release the pledged rental security deposit account or to withdraw funds, the landlord must deliver their original signed copy of the “Advice of rent security” form to us. We have delivered this form to both the landlord and the tenant.

With the form, the landlord can:  

  • release the pledged rental security deposit account  
  • withdraw a part or all of the deposit placed in the rental security deposit account  
  • transfer the deposit to a new landlord.  

If the landlord withdraws the deposit in full, we can close the account at the landlord’s request.

The landlord can send the form to the address below without any separate notification and without postage or a stamp.

Nordea Bank Abp

2360 Operations Finland

Rental security deposit account

Code 5001230-2501

00006 REPLY MAIL

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