Maine Deposit Interest Rules
no interest requiredMaine has no statewide requirement that landlords pay interest on security deposits (14 of 51 US jurisdictions do). Your lease may still promise interest — if it does, that promise is enforceable.
Educational information: generated from our Maine law database (last updated 2024-01-01). Not legal advice.
How Maine compares
14 of 51 US jurisdictions require landlords to pay interest on security deposits. Here is how Maine compares with other states in our database.
| State | Deposit Interest Rules |
|---|---|
| Maine | no interest required |
| Maryland | interest required |
| Massachusetts | interest required |
| Michigan | no interest required |
| Minnesota | interest required (deposits held 1+ year) |
Frequently asked questions
- Do landlords have to pay interest on security deposits in Maine?
- No statewide statute requires it in Maine, though local ordinances or your lease can add the obligation. Maximum 2 months rent (1 month for elderly/disabled tenants). 3 months max for mobile home parks. Must be held in separate bank account. Return within 30 days (21 days if no written lease). Penalty: double deposit plus attorney fees.
- How large can the deposit itself be in Maine?
- Maine generally allows at most 2 months' rent (most tenancies) as a security deposit.
- When do I get my security deposit back in Maine?
- Generally within 21–30 days after move-out.
Check Your Lease Against Maine Law
Not sure whether your lease complies with Maine law? Upload it and our analyzer flags problem clauses — deposit terms, entry rights, fees and prohibited provisions — using the same statute-backed database this page is generated from.
Analyze My Lease FreeEducational tool — not legal advice. First analysis is free, no signup required.
More Maine lease law guides
Educational information generated from state statute data — not legal advice. Consult a licensed attorney in Maine for your specific situation.