Security Deposit Interest : ezLandlordForms

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Security Deposit Interest

John W

started a topic almost 10 years ago

Hello, The Landlord form that was included had the following language regarding interest on the security deposit: Maryland Assist: (I) Within 45 days after the end of the tenancy, the landlord shall return the security deposit to the tenant together with simple interest which has accrued [in the amount of 3 percent per annum] AT THE DAILY U.S. TREASURY YIELD CURVE RATE FOR 1 YEAR, AS OF THE FIRST BUSINESS DAY OF EACH YEAR, OR 1.5%, WHICHEVER IS GREATER, less any damages rightfully withheld. Do I need to include 3% interest or the max of 1.5% and the 1Year Treasury rate? Thank you in advance for any assistance.