Frequently Asked Questions

Legal Hotline FAQ

a blog of the most frequently asked questions to the MAR legal hotline.


Cindy Sellers
Cindy Sellers
Cindy Sellers's Blog

What is the Interest Rate for Security Deposits?

Pursuant to Section 8-203(e) of the Real Property Article of the Annotated Code of Maryland, effective January 1, 2015, the interest rate on the return of security deposits is 1.5% or a rate equal to the U.S. Treasury Daily Yield Curve Rate, whichever is higher.The owner must pay the legal rate even if the tenant agrees to accept less or the banks are offering less.  None of the provisions of this statute may be waived. To view the security deposit provisions,  click here
 
For a link to the MAR Security Deposit Calculator- click here (not for use in Prince George’s County)
 


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