Permitted Regulated Verified 2026-09-06 · ver. 0.2.3 How we verify these rules

Installment Loans in Maryland

Maryland permits licensed consumer and installment lending within statutory rate limits. The Consumer Loan Law applies to covered loans up to $25,000, while the current PLS Cash Advance selector uses only the $200–$5,000 portion and routes all Maryland requests to this legal-product guide rather than to a separate payday regime.

Maryland legal category: Maryland Consumer Loan · Maryland Consumer Loan Law, Commercial Law Title 12, Subtitle 3, and applicable licensing provisions

Maryland installment loans at a glance

Legal status
Permitted Regulated
Legal category
Maryland Consumer Loan
Maximum amount in this regime
$25,000
Term
The sources used for this state guide do not support one universal loan term across every licensed Maryland consumer lender and credit structure. Terms must be disclosed in the contract and comply with the applicable subtitle.
Regulator
Maryland Office of Financial Regulation (OFR)
Verified
2026-09-06

Choose a loan type by amount

PLS Cash Advance currently presents request amounts from $200 to $5,000. The ranges below are navigation guidance between our state loan guides — not statutory limits, eligibility rules, or a promise of approval.

Not available Unavailable

Payday Loans in Maryland

Maryland does not have a separate high-cost payday route. Use the Maryland installment/consumer-loan guide for the current $200–$5,000 selector.

Why unavailable

$200–$5,000 Current guide

Installment Loans in Maryland

Preferred Maryland routing for the entire current selector because there is no separate high-cost payday product to recommend.

Amount and term limits

Maryland’s Consumer Loan Law addresses loans and advances of $25,000 or less under the covered subtitle. PLS Cash Advance routes the entire current $200–$5,000 selector to this lawful consumer-loan framework.

The sources used for this state guide do not support one universal loan term across every licensed Maryland consumer lender and credit structure. Terms must be disclosed in the contract and comply with the applicable subtitle.

Interest, fees and repayment

Maryland law contains multiple consumer-credit authorities and exceptions. This page records the Consumer Loan Law ceiling relevant to non-exempt licensed lending rather than claiming one rate governs every bank, credit union or other exempt creditor.

Under the alternative schedule in Commercial Law §12-306(a)(6), a loan of $2,000 or less may charge up to 2.75% per month on the first $1,000 of unpaid principal and 2% per month above $1,000; for an original principal balance above $2,000, up to 2% per month on the unpaid balance.

Repayment is governed by the applicable consumer-loan contract and Maryland consumer-credit law. This page does not invent one mandatory payment frequency where the cited provisions do not establish one across the entire range.

Rollovers, refinancing and early payment

Rollover allowed?
Not reduced to a yes/no rule
Maryland consumer loans use renewal/refinancing rules rather than a distinct payday rollover model.
Prepayment penalty allowed?
Not reduced to a yes/no rule
Prepayment rights and permitted charges can depend on the particular consumer-credit subtitle and contract, so no single statewide flag is asserted here.

Maryland borrower protections

  • Most non-exempt Maryland consumer lenders must hold the appropriate OFR license.
  • The Consumer Loan Law establishes statutory interest ceilings rather than permitting unlimited payday pricing.
  • Maryland OFR provides public NMLS-based license verification.
  • The $5,000 site boundary is editorial; the covered Consumer Loan Law amount can extend to $25,000.

Maryland loan cost calculator

Why there is no single statutory calculator: Maryland’s legal rate framework uses monthly statutory ceilings, lender-type distinctions and multiple consumer-credit subtitles. A generic APR calculator would not establish legal compliance.

How to verify a lender in Maryland

Regulator: Maryland Office of Financial Regulation (OFR).

Consumer Lender license or other applicable Maryland authority/exemption

Verify a lender license

Official sources

  1. Maryland Commercial Law §12-303 — Consumer Loan Law scope and $25,000 boundary · primary
  2. Maryland Commercial Law §12-306 — Consumer Loan Law interest ceilings · primary
  3. Maryland OFR — Consumer Lenders · primary
  4. Maryland OFR — Search for Regulated Financial Service Providers · primary

Last regulatory verification: 2026-09-06. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.