Maryland at a glance
- Personal loansAllowed 33% APR (top tier)
- Installment loansAllowed 33% APR (top tier)
- Emergency loansAllowed 33% APR (top tier)
- Payday loansNot allowed
- Title loansNot allowed
Loan options in Maryland
Every loan type we cover is listed, including the ones Maryland law does not allow, so you can see why and what else can work.
- Personal loansAllowedA lump sum you repay in fixed monthly payments. See what your state allows and what a loan can cost.
- Installment loansAllowedFixed payments over months, not weeks. See your state's rate limits and a worked cost example.
- Emergency loansAllowedMoney for an urgent bill, usually a smaller installment loan. Check your state's limits before you borrow.
- Payday loansNot allowedA short loan usually due in one payment on your next payday. Allowed in fewer states, so read the fee limits first.
- Title loansNot allowedA loan secured by your car title. Allowed in fewer states, and your car is at risk if you cannot repay.
Other ways to borrow
- Credit union payday alternative loans: small loans from federal credit unions with an APR capped at 28% under NCUA rules. (12 CFR 701.21)
- Credit-builder loans: a small loan held in savings while you pay it off, which can help build a payment history.
- Secured credit cards: a card backed by a deposit you make, which can help build credit when you pay on time.
- Payment plans: many utilities, hospitals and lenders offer hardship plans if you ask before you miss a payment.
What a loan can cost in Maryland
Worked examples at an illustrative rate, never above Maryland's rate cap for that loan amount where the law sets one. They are examples, not quotes.
Representative example
- Amount borrowed
- $500
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $48.74
- Finance charge
- $84.88
- Total of payments
- $584.88
Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $97.48
- Finance charge
- $169.76
- Total of payments
- $1,169.76
Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $3,000
- Annual percentage rate (APR)
- 24%
- Repayment
- 12 monthly payments
- Payment
- $283.68
- Finance charge
- $404.16
- Total of payments
- $3,404.16
Example: a $3,000 installment loan at 24% APR repaid in 12 monthly payments of $283.68 costs $3,404.16 in total, including a finance charge of $404.16. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Resources in Maryland
Free and low-cost places to turn in Maryland, each linked to its official source and dated when we last checked it.
Lending regulator and complaints
Maryland Office of the Commissioner of Financial Regulation (OCFR) licenses lenders in Maryland. Check a lender's license here, and file a complaint if something goes wrong.
Check a lender's license File a complaint
labor.maryland.gov, iprod.dllr.state.md.us Checked September 23, 2026
211
Call 211 or visit your local 211 site to reach help with rent, utilities, food and other urgent bills.
211md.org Checked September 23, 2026
Legal aid
Free civil legal help for people with low incomes, including debt collection, repossession and eviction problems. Income limits vary.
mdlab.org Checked September 23, 2026
Nonprofit credit counseling
Nonprofit counselors can help you build a budget or set up a debt management plan. Look for an NFCC or FCAA member agency.
nfcc.org Checked September 23, 2026
Federal complaints
Submit a complaint about any lender to the Consumer Financial Protection Bureau.
Submit a complaint to the CFPB
consumerfinance.gov Checked September 23, 2026 Available in Spanish
More Maryland resources appear here as we check each source.
Cheaper options to try first
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
- Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
- Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
- Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Maryland.
The rules lenders follow in Maryland
These rules protect you as a borrower and explain the labels above. Each one links to the source we took it from. How we research state rules.
Allowed in Maryland: installment and personal loans. Not allowed: title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3][4][5] | Allowed | 33% APR (top tier) | Up to $25,000 | Not set by statute | Consumer Loan license | Md. Code, Commercial Law Title 12, Subtitle 3; Md. Code, Financial Institutions Title 11, Subtitle 2 |
| Title loans[3][2] | Not allowed | Not allowed | Not set by statute | Not set by statute | None | Maryland Consumer Credit Law, per a 2018 amendment banning title loans outright. |
| Payday loans[4][2] | Not allowed | Not allowed | Not set by statute | Not set by statute | No separate payday-loan license exists | Md. Code, Commercial Law Title 12, Subtitle 3 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.
Rate, fee and license rules in Maryland
Installment and personal loans
- Rate cap
- Md. Com. Law 12-306(a) (loans made after July 1, 1982): for loans with original principal of $2,000 or less, 2.75% per month (33% per year) on the unpaid principal up to $1,000 and 2% per month (24% per year) on the part above $1,000; for loans over $2,000, 2% per month (24% per year) on the entire unpaid principal. Subtitle 3 covers consumer loans of $25,000 or less.
- License
- Consumer Loan license (or Installment Loan license) issued by the Maryland Office of the Commissioner of Financial Regulation (OCFR), under Financial Institutions Article Title 11, Subtitle 2.
Title loans
- License
- None; no lender, licensed or unlicensed, may make a loan secured by a vehicle title in Maryland.
Payday loans
- Rate cap
- No payday-specific product is authorized; the general 33% APR usury/consumer-loan-rate ceiling (Commercial Law Title 12, Subtitle 3) applies to all consumer loans and is low enough that traditional fee-based payday lending is not economically viable, effectively banning the product.
- License
- No separate payday-loan license exists; any short-term lender would need the standard OCFR Consumer Loan license and comply with the same 33% APR ceiling as installment lenders.
Money snapshot for Maryland
Guides for Maryland borrowers
Check your options in Maryland
Maryland questions
Does Maryland law allow payday loans?
Maryland law does not allow payday loans. Source: Md. Code, Commercial Law Title 12, Subtitle 3.
What is the most a lender can charge in Maryland?
By loan type in Maryland: Installment and personal loans: 33% APR (top tier). Title loans: Not allowed. Payday loans: Not allowed.
Where can I file a complaint about a lender in Maryland?
You can file a complaint with Maryland Office of the Commissioner of Financial Regulation (OCFR), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Maryland on this page.
How do I check a lender's license in Maryland?
Maryland Office of the Commissioner of Financial Regulation (OCFR) licenses lenders in Maryland. Use the license link under Resources in Maryland on this page to check a lender before you share your information.
Is there free help paying bills in Maryland?
Yes. Resources in Maryland on this page lists free help, including 211, legal aid and nonprofit credit counseling.
Can I get a loan in Maryland with a 500 credit score?
Lenders look at more than your score, such as income and existing debts, and each sets its own rules. BadCreditMD cannot tell you whether a lender will approve you.
Nearby states
- District of ColumbiaAllowed 24% APR
- DelawareAllowed No numeric cap
- New JerseyAllowed 30% APR
- VirginiaAllowed 36% APR
- PennsylvaniaAllowed 24% APR
Sources
- labor.maryland.gov/finance/industry/installlend.shtml. Retrieved September 23, 2026.
- labor.maryland.gov. Maryland Office of the Commissioner of Financial Regulation (OCFR). Retrieved September 23, 2026.
- Justia. Maryland Consumer Credit Law, per a 2018 amendment banning title loans outright. Retrieved September 23, 2026.
- Justia. Md. Code, Commercial Law Title 12, Subtitle 3. Retrieved September 23, 2026.
- Justia. Md. Code, Commercial Law Title 12, Subtitle 3. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Maryland. Retrieved September 23, 2026.
- U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
- U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.
Important disclosures
Illustrative range for installment loans in Maryland: APRs from 5.99% to 33%, where the state APR cap is 33% at most and lower on larger loans. This range is not a quote; each lender sets its own rates. Your APR depends on your credit, income, state and the lender.
- BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
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- Questions about a lender licensed in Maryland? Contact the Maryland Office of the Commissioner of Financial Regulation (OCFR) or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.