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MGL c. 186 § 15B(3)(b): For deposits held at least one year, annual interest is 5% or the lesser amount actually received from the bank

Compare this Massachusetts source with your dates, records, and the conditions that apply to your rental.

Reviewed: 2026-08-11

How sources are checked →

Deadline context

30 days

Possible remedy

3x deposit or balance due for covered failures

Primary statute

MGL c. 186 § 15B

Official section source

What the cited source addresses

For deposits held at least one year, annual interest is 5% or the lesser amount actually received from the bank.

Read the current official section

How to review this source with your facts

  • Capture all dates and documents tied to this statutory requirement.
  • Read the current official text, coverage, exceptions, and definitions.
  • Keep any written request factual and preserve the response.

Frequently asked questions

Questions to compare with the current source before using the citation in a letter or filing.

What does MGL c. 186 § 15B(3)(b) address?

For deposits held at least one year, annual interest is 5% or the lesser amount actually received from the bank. Open the current official text to check coverage, definitions, and exceptions for your situation.

How long does a Massachusetts landlord have to return the deposit?

30 days after termination of occupancy (30 days).

Could a penalty or other remedy apply?

Failures covered by § 15B(6)(a), (d), or (e) trigger three times the deposit or balance due, 5% interest from the due date, court costs, and reasonable attorney fees under § 15B(7). Check the source's required facts, conditions, notices, defenses, and remedy language before relying on it.

Next steps

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