Maryland Payday loans

Are Maryland payday loans legal?

No according to the law, Maryland payday loans are illegal and as such Maryland payday loan companies have rules they must follow regarding interest rate caps.   In the case of Maryland payday loan companies, max APR is 33% which is much lower than in other states.  

Other options to consider instead of Maryland payday loans

Maryland payday loan costs

Regardless of the type of credit you are given by a Maryland lending institution, you always have to pay the money back plus all fees and interest you signed up for. The interest you pay comes down to your credit history, the type of credit line you want, your employment history and your relationship with the institution itself. There are usually many types of fees such as application, disbursement, late payment and settlement fees.   We recommend you read the fineprint before you consider a Maryland payday loan or similar. Remember that depending on the loan type there will be a non-sufficient funds fee, that is, if your check bounces you will pay a fine.