Good to excellent credit
American Express
- Credit profile
- Excellent
- APR range
- 6.99% – 19.99%
- Loan amount
- $3,500 – $40,000
Personal finance / ME
Personal loans, banking, insurance, and debt help in Maine
Mainers 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.
23lenders in the dataset
MEstate guide
$996/yraverage homeowners premium in dataset
51jurisdictions in the dataset
01 / Personal loans
Personal loans in Maine
Mainers 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
Maine's supervised lenders (finance charge above 12.25%/year) can charge whichever is greater: a tiered schedule starting at 30% on the first $1,000, or a flat 18%, up to a $50,000 covered-loan ceiling. In practice the tiered schedule tends to govern smaller loans and 18% governs larger ones.
| Loan range | Rate | Statute |
|---|---|---|
| Small loans (~$500-$2,000) | Tiered schedule starting at 30% on first $1,000, stepping down above that | Not specified in dataset |
| Larger loans ($10,000+) up to $50,000 ceiling | Flat 18% (typically the higher/applicable figure) | Not specified in dataset |
Lender complaints: Maine Office of Consumer Credit 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
KeyBank
- Credit profile
- Not specified
- APR range
- 8.99% – 22.99%
- Loan amount
- $2,000 – $100,000
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
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
Rocket Loans
- Credit profile
- Good
- APR range
- 8.01% – 29.99%
- Loan amount
- $2,000 – $45,000
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
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
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
OneMain Financial
- Credit profile
- Poor
- APR range
- 18% – 35.99%
- Loan amount
- $1,500 – $20,000
Poor or limited credit
OppLoans
- Credit profile
- Poor
- APR range
- 160% – 195%
- Loan amount
- $500 – $5,000
03 / Debt consolidation
Debt consolidation
Maine's supervised-lender cap tops out around 30% for smaller loans and 18% for larger ones, so a well-priced debt consolidation loan should land meaningfully below whichever ceiling applies to your balance.
04 / Banking and credit unions
Banking in Maine
National banks offer scale and convenience while Maine-based regional and community banks compete on relationship banking and local decision-making.
Banks listed
- Bangor Savings BankHeadquartered in Bangor, ME.
- TD BankU.S. headquarters in Cherry Hill, NJ.
- Bank of AmericaNational bank.
- Camden National BankHeadquartered in Camden, ME.
- KeyBankHeadquartered in Cleveland, OH.
- Machias Savings BankHeadquartered in Machias, ME.
Credit unions
Maine 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 6.2% year over year (Q4 2025 NCUA data), one of the strongest figures in this comparison, alongside the second-highest median asset growth of any state, trailing only New Hampshire.
Built on mill-town and shipbuilding roots: Penobscot County Federal Credit Union began in 1968 among Old Town paper mill employees, while Ancorum Credit Union traces to 1956 as BIW Employees Federal Credit Union at Bath Iron Works. The County Federal Credit Union began in 1956 as Loring Federal Credit Union serving Loring Air Force Base, broadening its membership after the base's 1994 closure.
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 unusually specific fee limits. Providers must register under 32 M.R.S. § 6171 et seq., regulated by the Maine Bureau of Consumer Credit Protection. Registration fee capped at $800 initially/$600 on renewal. Monthly fee capped at $40 for distribution-model plans, or up to 15% of debt reduced through a settlement plus a $75 initial fee for settlement-model plans.
Companies listed in the dataset
06 / Insurance
Maine insurance
Regulator
Maine Bureau of Insurance
Insurance regulator websiteAuto insurance
50/100/25
Maine requires liability insurance of $50,000 per person/$100,000 per accident bodily injury, plus $25,000 property damage, plus uninsured motorist, underinsured motorist, and medical payments coverage.
Homeowners and renters
$996/yr
- State requirement
- No
- National homeowners average
- $1,337/yr
- Renters average
- $146/yr
Nor'easters, coastal flooding along the extensive shoreline, and heavy winter snow and ice loads that can cause structural damage inland.
07 / Questions
Maine FAQs
How do I file a complaint against a lender in Maine?
Contact the Maine Office of Consumer Credit Regulation, which licenses and supervises consumer lenders operating in Maine.
How do I file a complaint against my insurance company in Maine?
File with the Maine Bureau of Insurance.
What's the maximum interest rate a lender can legally charge on a personal loan in Maine?
Maine's supervised lenders can charge whichever is greater: a tiered schedule starting at 30% on the first $1,000, or a flat 18%, up to a $50,000 covered-loan ceiling. The tiered schedule typically applies to smaller loans, and the flat 18% to larger ones.
What credit score do I need for a personal loan in Maine?
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 Maine, and are there caps on fees or loan amounts?
Yes, but Maine has some of the strictest fee caps in the country. Payday and small loans are capped at 30% APR for balances up to $2,000, with flat finance charges tiered by loan size ($5 up to $75, $15 for $75.01-$249.99, $25 for $250+). Rollovers aren't allowed, keeping the industry small (around a dozen licensed lenders).
How long can a debt collector legally pursue an unpaid debt in Maine before the statute of limitations runs out?
Most consumer debts have a 6-year statute of limitations (14 M.R.S. § 752). A separate debt-collection statute (32 M.R.S. § 11013(8)) bars suits more than 6 years after last activity, and unlike most states, a payment after that period does not revive the deadline. Sealed contracts/attested notes get a longer 20-year window (14 M.R.S. § 751).
What's the difference between a debt consolidation loan and debt settlement for someone living in Maine?
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. Maine caps debt settlement fees fairly specifically (15% of debt reduced through a settlement), a real consumer protection.
