Maryland Security Deposit Interest Calculator
This free Maryland security deposit interest calculator determines exactly how much interest your landlord owes you under Maryland Real Property Code § 8-203.
Security Deposit Details
Enter your original deposit amount and move-in date to calculate interest owed under Maryland law.
Leave blank to use the default estimate of 1.5%. Greater of 1.5% or the daily U.S. Treasury yield curve rate for 1-year maturities.
How Security Deposit Interest Works in Maryland
Deposit Details
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Maryland Deposit Interest Rules
Legal basis: Maryland Real Property Code § 8-203. Last verified: 2026-05-25.
Key Details for Maryland
How Maryland Security Deposit Interest Works
Maryland's deposit interest system is one of the most complex among the states we cover — primarily because the rate has changed three times since the statute was first enacted, creating widespread confusion among tenants and landlords alike.
Under the current version of Real Property Code § 8-203, the interest rate is the greater of 1.5% or the daily U.S. Treasury yield curve rate for 1-year maturities. Interest accrues monthly, and the landlord must pay accrued interest within 45 days of lease termination. The deposit must be held in a federally insured institution in Maryland.
An important threshold applies: deposits under $50 are not subject to the interest requirement. And the 6-month figure often cited in Maryland deposit discussions refers to the minimum holding period — deposits held for less than 6 months may not be subject to interest, not the frequency of interest calculations.
Example: MD Deposit Interest Calculation
Your deposit is $1,500 and you've been in the unit for 4 years (lease started in 2022). The current effective rate is 1.5%.
Your landlord owes you $1,590.00 within 45 days of your move-out date. If they fail to return this amount with an itemized statement, you may be entitled to up to 3× the deposit amount in damages.
Frequently Asked Questions
What is the current interest rate on security deposits in Maryland? ▼
The current rate is the greater of 1.5% or the daily U.S. Treasury yield curve rate for 1-year maturities. In practice, this has been effectively 1.5% (the floor) in recent years. Important: if you see "3%" or "4%" cited online, those are historical rates that applied before 2015 and 2004, respectively — they are no longer current.
Why do some sources say Maryland deposit interest is 3% or 4%? ▼
Because the rate has changed three times: 4% (1972-2004), 3% (2004-2014), and the current variable rate (2015-present, minimum 1.5%). Older websites and even some landlords still cite the outdated figures. The current statute (Real Property Code § 8-203) uses a variable formula tied to Treasury yields with a 1.5% floor.
Does Maryland deposit interest apply to all deposits? ▼
No. Deposits under $50 are not subject to the interest requirement. Additionally, the deposit must have been held for at least 6 months before interest is owed. For deposits of $50 or more held for 6+ months, interest accrues monthly at the current rate.
What happens if my Maryland landlord doesn't return my deposit within 45 days? ▼
You may be entitled to up to three times (3×) the deposit amount in damages, plus reasonable attorney's fees. The 45-day deadline is strict — the landlord must return the deposit with accrued interest AND an itemized statement of any deductions. If either is missing or late, the penalty may apply.
If I moved in before 2015, did my deposit earn interest at the old 3% or 4% rate? ▼
Yes, for the years when those rates were in effect. If your lease started before 2004, your deposit accrued at 4% for those years, then 3% from 2004-2014, then the current variable rate (min 1.5%) from 2015 onward. Our calculator uses the current rate for the full tenure, which may slightly underestimate interest for pre-2015 leases.
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