The Best Loans in Maryland 2022: Compare Here

Financer.com helps you compare online loan rates in Maryland. Compare different loan options in Maryland and read more about the payday loan laws in the state.

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  • Find a loan in Maryland
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Compare the Best Loans in Maryland for February 2023

Borrow $1,000 for a period of 6 Months.
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Amount: $1,000 | Period: 6 Months
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We found 12 loans

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Chosen 2,319 times

Chosen 2,319 times

Loan amount

$1,000

APR:

4.99% - 35.99%

Total Payment

$1,014.75

for 6 months

Monthly payback

$169.13

for 6 months

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Customer Type

All

Borrow up to

$50,000

Estimated Payback

05/08/2023

Weekend Payout

Age

18

0 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 83,699 times

recommended

Chosen 83,699 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now
Most chosen

Customer Type

All

Borrow up to

$10,000

Estimated Payback

05/08/2023

Weekend Payout

Age

18

37 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

recommended

Chosen 28,129 times

recommended

Chosen 28,129 times

Loan amount

$1,000

APR:

5.99% - 35.99%

Total Payment

$1,017.57

for 6 months

Monthly payback

$169.60

for 6 months

Open right now
Best reviews

Customer Type

All

Borrow up to

$35,000

Estimated Payback

05/08/2023

Weekend Payout

Age

18

15 Reviews

Interest & Costs

Flexibility & Terms

Website & Functionality

Support & Service

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

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$1,000
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How to Compare Loans in Maryland

How to Compare Loans in Maryland
1
Choose your loan amount
Choose the amount of money you want to borrow
2
Compare loan rates
Filter the results based on your needs and compare loan rates
3
Choose the best offer
Choose the best offer from leading lenders
4
Complete the application
Click Get Started and complete your application online

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Are Maryland Payday Loans Legal?

In addition to Georgia and Massachusetts, Maryland is another state that has made payday lending illegal.

However, payday companies are still operating in the state but they are left on their own. This means they don’t have any legal power to collect their loans. 

Consolidation loans are considered legal and thus some lenders have opted to offer this kind of financing.

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The Advantages of Online Maryland Loans

Online Personal Loans Are Convenient
Online Personal Loans Are Convenient
Get Funds As Soon As The Same Day
Get Funds As Soon As The Same Day
Apply Anywhere, Anytime
Apply Anywhere, Anytime
Less Paperwork Required
Less Paperwork Required

Regulations On Loans in Maryland

The maximum interest allowed on a small loan is 2.75% per month or an annual rate of 33%. This is applicable to loans under $2,000. Loans greater than this amount but under $6,000 have a maximum allowed rate of up to 24%.  Although these might be too high for the borrower, they are profitable for the lender.

Maryland Payday Loan Regulations

Legal StatusProhibited
Interest Rate (APR)33% 
Updated July 8 2022

Maryland Installment Loans and Personal Loans

These types of online loans are legal in the state and can be used for a costly one-time expense. Maryland installment loans are can be paid over a couple of months or years. Borrowers with bad credit can find friendlier terms.

Get the Loan You Need

An online personal loan can help when you need cash for large purchases or unplanned expenses.
Holiday
Holiday
Wedding
Wedding
Home Renovations
Home Renovations
Bills
Bills
Shopping
Shopping
Education
Education

How to Be Cautious when Taking a Loan in Maryland

Although the state makes Maryland payday loans illegal, companies always find some way to operate. Be sure to do business with a legal lender.

There are 4 types of lenders in Maryland:

  1. In-state licensed lenders
  2. Out-of-state licensed lenders
  3. Tribal lenders
  4. Foreign-based lenders

In-state lenders are expected to adhere to the federal regulations according to the state’s regulator. The second and third type of lenders, as shown above, will practice their state’s laws into your state.  Foreign based lenders operate by exporting their countries’ laws into your state.

Why Compare Personal Loans at Financer.com

Completely Free Comparison
Completely Free Comparison
Instant Results Without a Credit Check
Instant Results Without a Credit Check
Read Genuine Customer Reviews
Read Genuine Customer Reviews
Find the Cheapest Payday Loans in Maryland
Find the Cheapest Payday Loans in Maryland
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Compare Maryland Loans at Financer.com

Financer.com helps you compare the best personal loans in Maryland and get the best loan rates from leading lenders.

We look for lenders that offer full transparency and have a long track record of successful lending and satisfied customers. We are always improving our comparisons, but are confident in what we can bring to market, and we know you will be as well.

Use our free loan comparison tool to find the right personal loan in Maryland and take the guesswork out of doing all the legwork yourself.

What Customers Say About Us

4.61 based on 315 reviews

from Reviews.io

Maryland Loans - FAQs

Are payday loans legal in Maryland?

No, payday loans are prohibited in Maryland. However, payday companies are still operating, but they don’t have any legal power to collect their loans. You can opt for a personal loan instead.

What are the APRs on loans on a Maryland loan?

Lenders choosing to operate in the state have to comply with the APR cap of 33%.

What do I need to apply for a Maryland loan?

Lenders typically require your personal information such as your address and contact details, as well as your employment details. Lenders have different requirements when it comes to your credit score. 

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