Security Deposit Interest Calculator by State

A minority of states mandate interest by statute — the best-known include Connecticut, Massachusetts, New Jersey, Maryland and the District of Columbia, each with its own rate, eligibility conditions (unit count or deposit size) and payment timing. Several states with no statewide requirement leave it to cities: Chicago requires interest for larger buildings, San Francisco pays 4.2% for 2026-27 (set annually by the rent board), and Seattle has its own requirement — all tracked on their state pages. This site covers all 50 states plus DC.

It depends on your state's statute. Some states fix a simple annual percentage (Massachusetts pays 5% or the bank rate, whichever is less; Ohio pays 5% on the deposit excess), others peg the rate to a moving benchmark — a savings-deposit index (Connecticut), the greater of 1.5% or a Treasury yield (Maryland), or a passbook rate (Illinois) — and Minnesota pays a flat 1% simple. Enter your state, deposit amount and tenancy dates in the calculator above and it applies your state's rules.

In most interest states the statute says interest follows the deposit: it is credited annually against rent or paid with the deposit when the tenancy ends, subject to the same deadlines and deductions. A few states let the landlord hold interest until move-out even if they credit it yearly. Each state page spells out the timing rule and cites the statute.

No. This site is a free informational tool. We summarize state statutes with citations so you can verify every number yourself, but nothing here is legal advice for your specific situation. If you are in a dispute with your landlord, consult a licensed attorney or your state's attorney general consumer protection office — every state page links the official source.