What banks are best for depositing security deposit - MASS

[Mike Maloney]

I am looking for a bank that holds tenants security deposits and automatically pays the interest directly to the tenant annually, see the rest for description.

Hello, I am a first time property owner and am trying to figure out where it is best to deposit security deposits, I am aware that it must be deposited in an interest bearing account per MASS law but also the tenant needs to receive the interest annually and I do not want to have to manually perform this task. A high yield or higher than average interest rate would be ideal but that is my main concern.

Thanks