Maryland Security Deposit Calculator
Calculate the interest owed on a residential security deposit under Real Property § 8-203 — the same math as the official state calculator — and build a signable return statement with your own name on it.
Shown on the statement only — the interest rate is set by state law and is the same in all 24 jurisdictions.
Complete the calculation above first.
Moving a tenant out?
Document the walkthrough with the free Move-Out Inspection Checklist — attorney-reviewed, with the § 8-203 deadlines built in.
Maryland security deposit interest rates by year
Since January 1, 2015, each year's rate is the greater of 1.5% or the 1-year U.S. Treasury yield on the first business day of that year (§ 8-203(e)(1)). This table updates automatically each January from U.S. Treasury data.
| Calendar year | Annual rate |
|---|---|
| 2026 (current) | 3.47% |
| 2025 | 4.17% |
| 2024 | 4.80% |
| 2023 | 4.72% |
| 2022 | 1.50% |
| 2021 | 1.50% |
| 2020 | 1.56% |
| 2019 | 2.60% |
| 2018 | 1.83% |
| 2017 | 1.50% |
| 2016 | 1.50% |
| 2015 | 1.50% |
Simple interest, accrued monthly, not compounded. Deposits under $50 or held under 6 months accrue no interest.
Maryland security deposit law — common questions
What is the Maryland security deposit interest rate for 2026?
3.47% simple annual interest. Each calendar year Maryland's rate is the greater of 1.5% or the daily U.S. Treasury yield curve rate for 1 year as of the first business day of that year (Real Property § 8-203(e)). The 2026 rate took effect for accrual periods beginning in 2026.
How is security deposit interest calculated in Maryland?
Simple interest accrues at monthly intervals from the date the deposit is given to the landlord, using each calendar year's statutory rate for the periods that start in that year. Interest is not compounded, no interest accrues on a partial month at the end of the tenancy, and all years are treated as 365 days — the methodology adopted by the Maryland Department of Housing and Community Development for the official state calculator.
Does a landlord owe interest if the deposit was held less than 6 months?
No. Under § 8-203(e)(3), no interest is due unless the landlord has held the security deposit for at least 6 months. The deposit itself must still be returned within 45 days after the tenancy ends.
Do deposits under $50 earn interest?
No. The interest requirement in § 8-203(e) applies to security deposits of $50 or more. Smaller deposits are still refundable.
When must a Maryland landlord return the security deposit?
Within 45 days after the end of the tenancy, by first-class mail directed to the tenant's last known address, together with accrued interest and less any lawful deductions (§ 8-203(e)). Different rules apply when the tenancy ends by eviction or abandonment (§ 8-203(h)).
How much can a Maryland landlord charge as a security deposit?
For leases signed on or after October 1, 2024, the maximum is 1 month's rent per dwelling unit (House Bill 693, the Renters' Rights and Stabilization Act of 2024). Leases signed before that date keep the older 2-month cap, and a narrow exception allows more where the tenant receives utility assistance and pays utilities to the landlord by written agreement. Charging over the cap exposes the landlord to up to 3 times the excess charged plus reasonable attorney's fees.
What happens if a landlord wrongfully withholds a deposit?
If a landlord withholds any part of the deposit without a reasonable basis and fails to return it within 45 days, the tenant may sue for up to 3 times the withheld amount plus reasonable attorney's fees (§ 8-203(e)(4)).
Can a landlord deduct damages from the deposit?
Yes — for unpaid rent, damage beyond ordinary wear and tear, or losses from a breach of lease (§ 8-203(f)). But the landlord must send the tenant a written list of the damages claimed together with an itemized statement of the costs incurred, by first-class mail within 45 days after the tenancy ends, or the right to withhold is forfeited (§ 8-203(g)). The statement must include supporting documentation such as receipts, invoices, or a written estimate (§ 8-203(j)); if an estimate is used, the final invoice and any excess refund are due within 30 days after repairs finish (§ 8-203(k)).
Does the interest rate vary by county?
No. The rate formula is set by state law and is identical in all 24 Maryland jurisdictions, including Baltimore City. (Some counties add separate non-monetary requirements, like Montgomery County's inspection rules, but the interest math is statewide.)
This page and the documents it produces are general information prepared from Md. Code, Real Property § 8-203 and the State of Maryland's published calculator methodology — not legal advice, and not a document issued by the State of Maryland or DHCD. Statutes change; consult a Maryland attorney about your situation. You can cross-check any calculation against the official state calculator at dhcd.maryland.gov.