Calculator · official rates · checked Oct 13, 2026
Security Deposit Interest Calculator
In some states and cities the landlord has to pay you interest on your deposit. Pick where you rented, enter the deposit and the dates: you get the interest owed, year by year, at the official rate, the statute behind it, what happens if the landlord does not pay — and the demand letter with the amount filled in.
Interest owed
| Period | Rate | Interest |
|---|
Enter the deposit and both dates. Calculated in your browser; nothing is sent anywhere.
Security deposit interest rates by state and city
The rule in each place the calculator covers, with the statute or official page it comes from.
| Where | Rate | When it is owed | Source |
|---|---|---|---|
| Massachusetts | 5% a year (or less, if the bank paid less) | From the first day of the tenancy; paid each year, and within 30 days if the tenancy ends before an anniversary | Mass. Gen. Laws c. 186, §15B(3)(b), (6)(e), (7) |
| Maryland | 3.47% for 2026 (1-year Treasury on Jan 2, 2026, 1.5% minimum) | Deposits of $50+ held 6+ months; full months only; simple | Md. Code, Real Prop. §8-203(e) |
| Connecticut | 0.49% for 2026 | Rate set by the Banking Commissioner each year | Conn. Gen. Stat. §47a-21(i); Banking Commissioner rate table |
| Chicago | 0.01% for 2026 | Deposits held more than six months; rate of the year the lease was made or renewed | Chicago Municipal Code ch. 5-12 (RLTO), §§5-12-081, 5-12-082 |
| San Francisco | 4.2% (Mar 1, 2026 – Feb 2027) | Due each year on the deposit anniversary; none if you leave within a year | S.F. Admin. Code ch. 49; Rent Board Topic No. 103 |
| Minnesota | 1% a year | Simple; from the month after you paid to the month the landlord complies | Minn. Stat. §504B.178 |
| Ohio | 5% a year on the excess | Only on the part above one month's rent (or $50); tenancy of 6+ months | Ohio Rev. Code §5321.16 |
| New Jersey | What the account earns | All the interest belongs to the tenant | N.J.S.A. 46:8-19 (NJ DCA, Truth in Renting) |
| New York (6+ units) | Bank rate minus 1% | Buildings with 6+ units; landlord keeps 1% for administration | N.Y. Gen. Oblig. Law §7-103 |
| Illinois (25+ units) | Largest Illinois bank's passbook rate | Buildings with 25+ units; deposits held more than 6 months | 765 ILCS 715 (Security Deposit Interest Act) |
Not covered: Berkeley (the Rent Board publishes monthly move-out rates and recommends a counselor for multi-year interest), Los Angeles and Washington, D.C. (their current rate pages could not be found on the official sites), Pennsylvania and New Hampshire (bank-rate rules we have not verified). Elsewhere, check your state's landlord-tenant statute and your lease.
Rate history the calculator uses
Maryland (Treasury rate or 1.5%)
| Year | 1-yr Treasury, 1st business day | Rate |
|---|---|---|
| 2026 | 3.47% (Jan 2) | 3.47% |
| 2025 | 4.17% (Jan 2) | 4.17% |
| 2024 | 4.8% (Jan 2) | 4.8% |
| 2023 | 4.72% (Jan 3) | 4.72% |
| 2022 | 0.4% (Jan 3) | 1.5% |
| 2021 | 0.1% (Jan 4) | 1.5% |
| 2020 | 1.56% (Jan 2) | 1.56% |
| 2019 | 2.6% (Jan 2) | 2.6% |
| 2018 | 1.83% (Jan 2) | 1.83% |
| 2017 | 0.89% (Jan 3) | 1.5% |
| 2016 | 0.61% (Jan 4) | 1.5% |
| 2015 | 0.25% (Jan 2) | 1.5% |
Source: U.S. Treasury daily par yield curve.
Connecticut, Chicago and San Francisco
| Year | Connecticut | Chicago |
|---|---|---|
| 2026 | 0.49% | 0.01% |
| 2025 | 0.52% | 0.01% |
| 2024 | 0.55% | 0.01% |
| 2023 | 0.27% | 0.01% |
| 2022 | 0.06% | 0.01% |
| 2021 | 0.08% | 0.01% |
| 2020 | 0.15% | 0.01% |
| 2019 | 0.15% | 0.01% |
| 2018 | 0.09% | 0.01% |
| 2017 | 0.08% | 0.01% |
| 2016 | 0.08% | 0.01% |
| 2015 | 0.08% | 0.01% |
| 2014 | 0.09% | 0.013% |
| 2013 | 0.11% | 0.023% |
| 2012 | 0.16% | 0.057% |
Connecticut was 1.5% each year from 2002 to 2011; Chicago peaked at 1.71% in 2006. Sources: CT Department of Banking, Chicago Department of Housing.
San Francisco (March 1 to February 28/29): 2026-27 4.2% · 2025-26 5% · 2024-25 5.2% · 2023-24 2.3% · 2022-23 0.1% · 2021-22 0.6%. Source: the Rent Board's current-rates page, read from its archived copy because sf.gov blocks automated visitors.
Frequently asked questions
Do landlords have to pay interest on security deposits?
Only where a state or city law says so. Among the places this calculator covers, Massachusetts, Maryland, Connecticut, Minnesota, Ohio (on part of the deposit), New Jersey, Chicago and San Francisco require it, and New York and Illinois require it for larger buildings. Some other states and cities have their own rules that this calculator does not cover yet (Pennsylvania, New Hampshire, Washington, D.C., Berkeley and Los Angeles among them), and a lease can promise interest even where no law requires it.
How much interest is owed on a security deposit in Massachusetts?
5% a year, from the first day of the tenancy, on a deposit the landlord has held a year or longer — or the lower amount the bank actually paid, if that is less (G.L. c. 186, §15B(3)(b)). A $2,400 deposit held from September 1, 2024 to August 31, 2026 earns $239.67. If the landlord does not return the deposit and its interest within 30 days after the tenancy ends, the tenant can be awarded three times the deposit plus 5% interest, costs and attorney's fees.
What is the Maryland security deposit interest rate?
The 1-year U.S. Treasury rate on the first business day of the year, or 1.5% if that is higher: 3.47% for 2026. Interest is simple, accrues in full months from the day you paid, and is owed only on deposits of $50 or more held at least 6 months (Real Prop. §8-203(e)). A $1,500 deposit paid March 15, 2024 earns $152.91 by August 31, 2026 (29 full months).
What is the Chicago security deposit interest rate?
0.01% for 2026, announced by the City Comptroller from the rates at the bank with the most branches in Chicago; it has been 0.01% every year since 2015. Landlords must pay it each year on deposits held more than six months and return the deposit with interest within 45 days after you move out.
What is the Connecticut security deposit interest rate?
0.49% for 2026, the deposit index set by the Banking Commissioner. Each year has its own rate (0.55% in 2024, 0.52% in 2025), and the calculator applies each one to the days the deposit was held that year.
How is San Francisco deposit interest calculated?
On each anniversary of the day the landlord received the deposit, the landlord owes the deposit times the rate in effect on that date (4.2% from March 1, 2026). No interest is owed if you move out within a year; a partial last year is prorated at the rate in effect when you move out. A $3,000 deposit from June 1, 2024 to September 1, 2026 earns $307.76.
Can I add the interest to my deposit demand letter?
Yes. After calculating, "Add to my demand letter" opens the security deposit demand letter with the deposit, the interest and the statute already filled in. You can still edit every line before you print or download it.
Waiting for the deposit itself? The deposit return calculator gives your state's deadline. Not legal advice: penalties are awarded by a court and depend on the facts; the calculator shows the rule, not a guaranteed amount.