Maryland Deposit Interest Rules
interest requiredMaryland is one of 14 US jurisdictions that require landlords to pay interest on security deposits in covered rentals — the FAQ below covers which tenancies qualify. If your lease is silent about interest, the statutory obligation still applies where it covers you.
Educational information: generated from our Maryland law database (last updated 2024-10-01). Not legal advice.
How Maryland compares
14 of 51 US jurisdictions require landlords to pay interest on security deposits. Here is how Maryland compares with other states in our database.
| State | Deposit Interest Rules |
|---|---|
| Maryland | interest required |
| Massachusetts | interest required |
| Michigan | no interest required |
| Minnesota | interest required (deposits held 1+ year) |
| Mississippi | no interest required |
Frequently asked questions
- Do landlords have to pay interest on security deposits in Maryland?
- Yes — Maryland law requires interest on held security deposits in covered rentals. Maximum 1 month rent (as of October 1, 2024 - reduced from 2 months). Interest required at higher of Treasury rate or 1.5%/year. Return within 45 days. Penalty: up to 3x amount wrongfully withheld plus attorney fees. Cannot retain solely for lease break - must prove actual damages.
- How large can the deposit itself be in Maryland?
- Maryland generally allows at most 1 month's rent as a security deposit.
- When do I get my security deposit back in Maryland?
- Generally within 45 days after move-out, together with any interest owed.
Check Your Lease Against Maryland Law
Not sure whether your lease complies with Maryland 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 Maryland lease law guides
Educational information generated from state statute data — not legal advice. Consult a licensed attorney in Maryland for your specific situation.