According to the Maryland Attorney General's Office you must pay 3 percent. Of course, you aren't going to get 3% out of a savings account or a CD nowadays, but the law has not caught up with the current economy.
http://www.oag.state.md.us/Consumer/landlords.htm#deposits - The landlord must put the security deposit in an escrow account. When returning security deposits of $50 or more, the landlord must include simple interest of 3 percent per year, accrued at six-month intervals from the date the security deposit was paid (1.5 percent every six-month period). Good luck, Rod On Thu, Jul 23, 2009 at 12:52 PM, JUDY BERLIN <jdy...@verizon.net> wrote: > Does anyone know what the going interest rate is for security deposits > being held by landlords. I know the deposit has to be returned with > interest, but given the economy, do not know at what rate. > > Thanks, > Judy > > > _______________________________________________ > Discussion mailing list > discuss...@charlesvillage.info > http://charlesvillage.info/mailman/listinfo/discussion_charlesvillage.info >
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