Deposit not kept in a separate interest-bearing account – may the landlord do that?
Likely invalid — such a clause does not bind you.
The landlord must hold the deposit in a separate interest-bearing bank account (§ 551 para. 3 BGB). Waiving the separation or interest is void.
What you can do next
Request proof of separate deposit. You are entitled to the interest.
The law behind it
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Check the whole contractRelated questions
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General information based on German law and court decisions, checked by lawyers — not legal advice for your individual case.