Calculator Form
Example Data Table
| Lease | Deposit | Rate | Deposit Date | End Date | Full Months | Interest | Deductions | Refund |
|---|---|---|---|---|---|---|---|---|
| Unit 3B | $1,500.00 | 1.500% | 2025-01-10 | 2026-01-10 | 12 | $22.50 | $100.00 | $1,422.50 |
| Unit 8C | $2,000.00 | 3.500% | 2025-02-01 | 2026-02-01 | 12 | $70.00 | $0.00 | $2,070.00 |
| Unit 1A | $45.00 | 1.500% | 2025-04-15 | 2026-01-15 | 9 | $0.00 | $0.00 | $45.00 |
Formula Used
Simple Interest = Deposit Amount × (Annual Rate ÷ 100) × (Eligible Full Months ÷ 12)
The calculator uses simple interest. It does not compound. It also ignores partial months. This matches the common Maryland deposit-interest workflow.
Refund is estimated with this formula:
Estimated Refund = Deposit Amount + Interest Earned − Lawful Deductions
If the deposit is below $50, interest is not paid. If the deposit was held less than 6 full months, interest is also not paid.
How to Use This Calculator
- Enter a lease label for your record.
- Type the security deposit amount.
- Enter the annual interest rate you want to apply.
- Select the date the deposit was received.
- Select the tenancy end date.
- Enter any lawful deductions.
- Click the calculate button.
- Review interest, eligibility, and refund details.
- Use the CSV or PDF buttons for exports.
About This Maryland Deposit Interest Tool
Why this calculator helps
This calculator helps real estate teams estimate deposit interest with less manual work. It is useful for lease files, move-out reviews, and refund discussions. It also helps tenants understand the refund math before a final statement arrives.
What the tool checks
The tool reviews the deposit amount, the holding period, and the annual rate. It then counts full months only. That matters because partial months are not used in the interest estimate. This keeps the output practical and easy to audit.
Why deductions matter
Interest alone does not tell the full story. A refund often depends on lawful deductions too. This page lets you add deductions so the final estimate is closer to a real file review. You can test different scenarios in seconds.
Good uses for brokers and managers
Agents, property managers, and landlords can use this page during onboarding and closeout. It works well for tenant questions, internal reviews, and owner reporting. The lease label field also helps when you manage many units.
Built for fast record keeping
The result panel appears above the form after submission. That keeps the answer visible right away. It also makes exporting easier. You can save the result as a CSV file or create a simple PDF summary for your records.
Rate input stays flexible
The annual interest rate field is editable. That is useful because the applicable rate can vary by year. A default value is provided for convenience. You can replace it with the yearly rate you need for a more precise estimate.
Simple layout and quick review
The page uses a clean white layout with very little styling. The main sections stack in one column for easy reading. The calculator fields still use a responsive grid. That gives you more inputs on large screens without making mobile use harder.
FAQs
1. Does this calculator compound interest?
No. It uses simple interest only. That makes the result easier to review and aligns with common Maryland security deposit calculations.
2. Why are partial months excluded?
The tool counts only full months held. That avoids overstating interest when the deposit does not complete another full monthly interval.
3. What if the deposit is under $50?
The calculator marks the deposit as not eligible for interest. It still shows the deposit and refund estimate after deductions.
4. What if the deposit was held less than 6 months?
No interest is added in that case. The result section explains why the interest value remains zero.
5. Can tenants use this tool too?
Yes. It is useful for tenants, landlords, agents, and property managers who want a quick estimate before reviewing a final accounting.
6. Is the annual rate fixed forever?
No. The field is editable. That lets you update the rate for the relevant year when needed.
7. Can I keep a record of each estimate?
Yes. Add a lease label, run the calculation, and download the result as CSV or PDF for simple file storage.
8. Does this page decide whether deductions are legal?
No. It only subtracts the amount you enter. You must decide what deductions are lawful for the lease and condition facts.