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States/Massachusetts/Bank Account & Interest
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Massachusetts renter guide

Massachusetts Security Deposit Bank Account & Interest Rules

Massachusetts requires security deposits to be held in a separate interest-bearing account at a bank in the Commonwealth and imposes written notice/receipt and interest duties.

Last reviewed: September 1, 20262 official sources cited
AccountSeparate + interest-bearing

Massachusetts bank account framework.

InterestTenant receives statutory interest

Review § 15B for the applicable annual interest mechanics.

Records to request

  • Bank name/location/account information provided by the landlord.
  • Deposit amount and date.
  • Annual interest payment or credit records.
  • Final accrued interest with move-out accounting.

Compare this topic across states

Security Deposit Interest by State
Compare dedicated interest, bank-account and escrow rules.
Educational information only. Massachusetts rental rules can depend on the exact tenancy, property, billing model and local enforcement facts. This page does not provide legal advice.

Official sources

Massachusetts LegislatureMassachusetts General Laws c.186 § 15B ↗

Primary law for security-deposit amount, receipts, statement of condition, banking, interest, deductions and 30-day return.

Mass.govSecurity deposits and last month’s rent ↗

Official Massachusetts consumer guidance on deposit limits, banking, interest and move-out deductions.

Related Massachusetts guides

Security Deposit →One-Month Limit →30-Day Rule →Statement of Condition →