Security Deposit Interest Calculator — United States

States requiring deposit interest include: Massachusetts (5% or actual rate), New York (actual bank rate for 6+ unit buildings), Connecticut (savings bank rate), New Jersey (actual rate earned), Maryland (actual rate), and Illinois (for buildings with 25+ units). Some cities have their own rules — San Francisco requires interest even where California state law does not. Most other states do not require interest.

Penalties vary by state but are significant. Massachusetts: up to 3× the deposit amount plus attorney fees. California: up to 2× the wrongfully withheld amount. Texas: up to 3× plus attorney fees. New York: court may award up to 2× the deposit. Most states also allow the tenant to recover attorney fees in successful deposit dispute cases. The landlord typically must prove deductions are justified.

Return deadlines: California — 21 days; Texas — 30 days; Florida — 15 days (no deductions) or 30 days (with deductions); New York — 14 days; Massachusetts — 30 days; Illinois — 30–45 days; Virginia — 45 days; New Jersey — 30 days. Landlords who miss the deadline typically forfeit the right to make deductions and may owe the tenant the full deposit plus penalties.