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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: August 30, 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 security-deposit rules are detailed and local/housing-specific facts can matter. 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 →