Good to excellent credit
American Express
- Credit profile
- Excellent
- APR range
- 6.99% – 19.99%
- Loan amount
- $3,500 – $40,000
Personal finance / MD
Personal loans, banking, insurance, and debt help in Maryland
Marylanders use personal loans to consolidate credit card debt, cover emergencies, fund home improvements, or pay for major life events, with both unsecured and secured options available.
25lenders in the dataset
MDstate guide
$1,238/yraverage homeowners premium in dataset
51jurisdictions in the dataset
01 / Personal loans
Personal loans in Maryland
Marylanders use personal loans to consolidate credit card debt, cover emergencies, fund home improvements, or pay for major life events, with both unsecured and secured options available.
Interest-rate law
Maryland runs one of the most granular tiered rate schedules in the country for smaller loans; loans above $5,000 shift to a separate, less-documented bracket worth confirming directly with the state regulator.
| Loan range | Rate | Statute |
|---|---|---|
| First $500 | 33% | Commercial Law §12-306 |
| $500 – $700 | 24% | §12-306 |
| $700 – $2,000 | 15% | §12-306 |
| $2,000 – $3,500 | 21% flat | §12-306 |
| $3,500 – $5,000 | 18% flat | §12-306 |
| Above $5,000 | Separate, less-documented bracket (possibly Installment Loan Law, Fin. Inst. Art. Title 11) — confirm directly | Not specified in dataset |
Lender complaints: Maryland Commissioner of Financial Regulation
02 / Lender directory
Lenders by credit profile
Good to excellent credit
Axos Bank
- Credit profile
- Excellent
- APR range
- 11.79% – 20.84%
- Loan amount
- $7,000 – $50,000
Good to excellent credit
Citi
- Credit profile
- Good - Excellent
- APR range
- 9.99% – 17.49%
- Loan amount
- $2,000 – $30,000
Good to excellent credit
Discover
- Credit profile
- Good - Excellent
- APR range
- 6.99% – 24.99%
- Loan amount
- $2,500 – $40,000
Good to excellent credit
Happy Money
- Credit profile
- Good
- APR range
- 7.95% – 35.99%
- Loan amount
- $5,000 – $50,000
Good to excellent credit
LightStream
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.39%
- Loan amount
- $5,000 – $100,000
Good to excellent credit
M&T Bank
- Credit profile
- Not specified
- APR range
- 7.74% – 13.94%
- Loan amount
- $2,000 – $5,000
Good to excellent credit
PNC Bank
- Credit profile
- Not specified
- APR range
- 7.89% – 24.99%
- Loan amount
- $1,000 – $35,000
Good to excellent credit
PenFed
- Credit profile
- Good
- APR range
- 7.99% – 17.99%
- Loan amount
- $500 – $50,000
Good to excellent credit
Prosper
- Credit profile
- Good
- APR range
- 8.99% – 35.99%
- Loan amount
- $2,000 – $50,000
Good to excellent credit
Reach Financial
- Credit profile
- Not specified
- APR range
- 5.99% – 35.99%
- Loan amount
- $3,500 – $40,000
Good to excellent credit
SoFi
- Credit profile
- Good - Excellent
- APR range
- 8.74% – 35.99%
- Loan amount
- $5,000 – $100,000
Good to excellent credit
Truist
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.39%
- Loan amount
- $3,500 – $100,000
Good to excellent credit
USAA
- Credit profile
- Good - Excellent
- APR range
- 9.89% – 18.51%
- Loan amount
- $2,500 – $100,000
Good to excellent credit
Wells Fargo
- Credit profile
- Good - Excellent
- APR range
- 6.74% – 25.99%
- Loan amount
- $3,000 – $100,000
Fair credit
Achieve
- Credit profile
- Fair
- APR range
- 6.25% – 35.99%
- Loan amount
- $5,000 – $50,000
Fair credit
Avant
- Credit profile
- Poor to Good
- APR range
- 9.95% – 35.99%
- Loan amount
- $2,000 – $35,000
Fair credit
Best Egg
- Credit profile
- Fair
- APR range
- 6.99% – 35.99%
- Loan amount
- $2,000 – $50,000
Fair credit
Happen Bank (formerly LendingClub)
- Credit profile
- Fair
- APR range
- 7.04% – 35.99%
- Loan amount
- $1,000 – $60,000
Fair credit
LendingPoint
- Credit profile
- Fair
- APR range
- 7.99% – 35.99%
- Loan amount
- $1,000 – $36,500
Fair credit
Navy Federal Credit Union
- Credit profile
- Fair - Excellent
- APR range
- 8.74% – 18%
- Loan amount
- $250 – $50,000
Fair credit
TD Bank
- Credit profile
- Fair - Excellent
- APR range
- 9.99% – 23.99%
- Loan amount
- $2,000 – $50,000
Fair credit
Upgrade
- Credit profile
- Fair
- APR range
- 7.74% – 35.99%
- Loan amount
- $1,000 – $50,000
Poor or limited credit
Mariner Finance
- Credit profile
- Poor
- APR range
- 15.49% – 35.99%
- Loan amount
- $1,000 – $25,000
Poor or limited credit
OneMain Financial
- Credit profile
- Poor
- APR range
- 18% – 35.99%
- Loan amount
- $1,500 – $20,000
03 / Debt consolidation
Debt consolidation
Maryland's tiered schedule caps small loans tightly, from 33% down to 15% within the first $2,000, so a well-priced debt consolidation loan in that range should land comfortably under those ceilings; for loans above $5,000, where the rate structure is less clear-cut, comparing multiple lenders matters even more.
04 / Banking and credit unions
Banking in Maryland
National banks offer scale and convenience while Maryland-based regional and community banks compete on relationship banking and local decision-making.
Banks listed
- Bank of AmericaNational bank.
- ChaseNational bank.
- PNC BankNational bank, headquartered in Pittsburgh, PA.
- M&T BankHeadquartered in Buffalo, NY.
- Wells FargoNational bank.
- TruistHeadquartered in Charlotte, NC.
- Sandy Spring BankHeadquartered in Olney, MD.
Credit unions
Maryland credit unions are member-owned, not-for-profit institutions that often post lower rates and fewer fees than banks, with membership tied to location, employer, or association.
Median membership growth of about -1.1% year over year (Q4 2025 NCUA data), versus a national median of about -0.5%.
Centers on State Employees Credit Union of Maryland (SECU MD), which began in 1951 with sitting governor Theodore McKeldin as its first member. Other institutions reflect narrow public-sector/municipal roots (Municipal Employees Credit Union of Baltimore, Post Office Credit Union of Maryland). Lafayette Federal Credit Union expanded across MD, VA, and D.C. via an associational-bond strategy.
Federally insured credit union deposits are protected up to $250,000 through the National Credit Union Share Insurance Fund.
Credit unions listed
05 / Debt settlement
Debt settlement
Legal with licensing required under two overlapping statutes: the Debt Management Services Act (Fin. Inst. § 12-901 et seq.) and the Debt Settlement Services Act (§ 12-1001 et seq.), both regulated by the Maryland Commissioner of Financial Regulation. Maryland caps fees, though the exact current figure isn't cleanly documented in public sourcing; providers must post a bond.
Companies listed in the dataset
06 / Insurance
Maryland insurance
Regulator
Maryland Insurance Administration
Insurance regulator websiteAuto insurance
30/60/15
Maryland requires liability insurance of $30,000 per person/$60,000 per accident bodily injury, plus $15,000 property damage, plus PIP, uninsured motorist, and underinsured motorist coverage.
Homeowners and renters
$1,238/yr
- State requirement
- No
- National homeowners average
- $1,337/yr
- Renters average
- $152/yr
Coastal flooding and nor'easters along the Chesapeake Bay and Atlantic shoreline, plus occasional hurricane remnants and severe summer thunderstorms inland.
07 / Questions
Maryland FAQs
How do I file a complaint against a lender in Maryland?
Contact the Maryland Commissioner of Financial Regulation, which licenses and supervises consumer lenders operating in Maryland.
How do I file a complaint against my insurance company in Maryland?
File with the Maryland Insurance Administration.
What's the maximum interest rate a lender can legally charge on a personal loan in Maryland?
A granular tiered schedule under Commercial Law §12-306: 33% on the first $500, 24% on $500-$700, 15% on $700-$2,000, then flat rates of 21% for $2,000-$3,500 and 18% for $3,500-$5,000. Above $5,000, the structure shifts to a separate bracket worth confirming directly with the Commissioner of Financial Regulation.
What credit score do I need for a personal loan in Maryland?
It depends on the lender. Banks and credit unions generally want a FICO score of 700+, FinTech lenders work with fair credit (low-to-mid 600s), and some lenders serve poor/limited credit at higher APRs.
Are payday loans legal in Maryland, and are there caps on fees or loan amounts?
No. Payday loans are effectively banned. A 2002 law capped small consumer loans at 33% APR, and a 2017 amendment extended that cap to revolving credit and lines of credit, making the traditional payday model unviable in Maryland.
How long can a debt collector legally pursue an unpaid debt in Maryland before the statute of limitations runs out?
Written contracts have a 3-year statute of limitations (Cts. & Jud. Proc. § 5-101); oral contracts and open accounts also carry 3 years. Contracts "under seal" get a much longer 12-year window. A payment or written acknowledgment can restart the clock.
What's the difference between a debt consolidation loan and debt settlement for someone living in Maryland?
A consolidation loan pays off debts in full with new borrowed money at a lower rate; settlement negotiates a reduced payoff but requires halting payments first, damaging credit. Maryland licenses debt settlement companies under two overlapping statutes, a real regulatory layer, but the fundamental tradeoffs are the same as anywhere else.
