Do I earn interest on my deposit?
Bills, Payments, Rates & Fees
Yes, deposits over $100 for recurring monthly service earn interest at either the legal rate or the rate of the interest-bearing account.
Service deposits over $100 earn interest according to Alaska state law (AS 42.05.365(a)).
Interest rate
The utility will pay interest at one of the following rates:
- The legal rate of interest at the time the deposit was made, OR
- The rate of the interest-bearing account if the utility places the deposit in such an account
When you receive interest
Interest is paid when your deposit is refunded, which occurs:
- After two years of on-time payment history, OR
- When you submit a written request for service discontinuation
Whichever comes first.
Deposits under $100
Deposits of $100 or less do not earn interest.
For more information about when you receive your deposit refund, see When do I get my deposit back?
Tariff Reference: Section W-007-A, AS 42.05.365(a)
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