Payday Loan Alternatives in Maryland (2026)

Are payday loans illegal in Maryland?

High-interest payday loans are prohibited in Maryland, and rates on short-term loans are restricted based on the loan’s size. If an individual or business is lending $25,000 or less, it’s illegal for them to charge more than the interest rate allowed by law — subject to certain (unspecified) exceptions, according to the Maryland Department of Labor’s Office of Financial Regulation.

Here’s a breakdown of the maximum interest rate a small loan provider can charge:

However, payday lenders often find ways around state regulations. A simple internet search for “payday loans in Maryland” reveals dozens of lenders that claim to offer payday loans in Maryland. Some may or may not be legit lenders that follow state laws. For that reason, Finder urges borrowers to make sure they understand the rates and fees they’re paying before taking out any type of loan.

If you believe a lender is violating Maryland lending laws, you can file a complaint with the Office of Financial Regulation.

4 short-term loans you can get in Maryland

If you need a loan, here are some better, less expensive options than payday loans.

Cash advance apps

If you need quick cash between paychecks, a cash advance app might be a good option. Loan amounts are small — typically between about $20 to $500 — and most providers don’t charge interest or late fees, making them less expensive than payday loans. But they’re not free.

Many apps charge monthly subscription fees that may cost up to $15, although some apps don’t require a membership to qualify. And, while transfers are usually free, they take up to a few days to go through. If you need cash now, you’ll have to pay a fast transfer fee anywhere from around $2 to $20.

Cash advance apps are also a solid choice if you have poor credit, because they don’t require credit checks. But you need to link your bank account with the app, and most providers require you to get paid by direct deposit. Plus, advance amounts usually start small for new users, although they generally increase the more you use the app.

Personal loans

If you need to borrow a larger amount than payday lenders offer — or want a longer term to pay it back — a personal loan might be the way to go. Personal loans can reach as high as $50,000, and a few lenders, like Lightstream and SoFi®, offer as much as $100,000.

You can get personal loans from banks, credit unions and online lenders, and you may want to check with your current bank or credit union first. These loans can typically be used for almost any purpose, such as consolidating debt, covering emergency expenses or making home improvements. Most lenders require a credit score of at least 600 or more to qualify, but there are also loan options for borrowers with bad credit.

Payday alternative loans (PALs)

Some federal credit unions offer payday alternative loans, which are specifically designed to give low-income borrowers access to more affordable credit than payday loans, title loans and other types of expensive short-term loans. Loan amounts range from $200 to $1,000, with terms from one to six months and interest rates capped at 28%.

But you need to be a member for at least one month to qualify for a PAL, so it isn’t a good option in an emergency. However, some credit unions may offer the less common PALs II loans, which go up to $2,000 and have terms as long as 12 months. You may be eligible for a PALs II as soon as you become a member.

Employer paycheck advance

If you’re in a bad financial situation, your employer may be willing to give you an advance on your next paycheck. That way, you can access money now — that you’ve already earned — instead of waiting for payday. This could be an informal situation where your boss gives you cash ahead of time, or some companies offer loans or cash advances as an employee benefit.

Compare cash advance alternatives to payday loans

6 of 6 results

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Finder Score	Max. amount per pay period	Turnaround time	Costs
Promoted 9.5 Excellent EarnIn	9.5 Excellent	Up to $150/day, with a max of $1000 between paydays	1–2 business days standard; minutes with Lightning Speed	Free to use or within minutes with a fee as low as $3.99 per transfer	Access up to $150 per day, with a max of $1000 between paydays. Not available to CT or Washington, D.C. residents. Subject to EarnIn terms & conditions.	Important information EarnIn is not a bank. Access limits are based on your earnings and risk factors. Available in select states. Terms and restrictions apply. Visit EarnIn.com for full details. Expedited transfers available for a fee. Visit Earnin.com for full details.	Go to siteView details Compare product selection Compare	loading
Promoted 8.2 Great Cleo	8.2 Great	$20 to $250	3 to 4 days or instant for a fee.	$5.99 monthly membership fee to access cash advances	Automatically monitor your spending plus access cash advances up to $100 at a time.	Go to siteView details Compare product selection Compare	loading
Promoted 9.4 Excellent OppLoans Installment Loans	9.4 Excellent	$500 to $5,000	As soon as the same business day	129% - 195% APR	Not available in: CO, CT, GA, IA, MD, MA, NY, SD, VT, WV. Comes with the option to change your due date so you won’t fall behind on repayments.	Important information The advertised APR is an estimate based on currently available information, is not final, and is subject to change. If approved, your actual rate will be determined and assigned based on your creditworthiness, income, application information, and other relevant factors. Applications submitted on the OppLoans platform will be originated by one of our bank partners and serviced by OppLoans. Please see the Rates and Terms for details regarding the availability of products in your state of residence. Subject to credit approval and verification. Actual approved loan amount and terms are dependent on our bank partners’ standard underwriting guidelines and credit policies. Funds may be deposited for delivery to your bank via ACH as soon as the same business day if verification is completed and final approval occurs before 12:00 PM CT on a business day. If approval occurs after 12:00 PM CT on a business day or on a non-business day, funds may be delivered as soon as the next business day. Availability of the funds is dependent on how quickly your bank processes the transaction. Installment loan amounts typically range from $500 to $5,000. Annual percentage rate (APR) ranges from 129% to 195%. Installment loan lengths range from 9 to 18 months. Example: A $2,000 installment loan repayable in 9 monthly payments with an APR of 160% would have monthly payments of $394.58. Loan amount, APR, and repayment terms may vary by state, please see https://www.opploans.com/rates-and-terms for additional information. Approval is not guaranteed. If approved, your actual rate will fall within the marketed range of rates, and will be determined and assigned based on your creditworthiness, income, application information, and other relevant factors. Not all applicants will qualify for the lowest available rates. This is an expensive form of credit and you should determine whether the offered product(s) meets your financial needs. OppLoans’ Bank Partners may use credit report information provided by Clarity Services and Experian as part of the application process to determine your creditworthiness. The credit inquiry will appear as a soft credit inquiry on your Experian credit report and a hard credit inquiry on your Clarity report. Therefore it will not affect your FICO credit score. OppLoans and its Bank Partners report customer payment history to the three major credit bureaus. On-time payments may improve credit score.	Go to siteView details Compare product selection Compare	loading
9.4 Excellent Varo Cash Advance	9.4 Excellent	Up to $250 today. Build up to $700 over time with direct deposit at Varo. Average loan: $195. Qualifications Apply.	Instant, once qualified	No membership fees, Flat Fees of $1.60 to $100	Important information Varo Advance qualification is subject to evaluation of consumer reports and Varo account activity. If approved, initial limits range from $20- $250. Unlock higher limits up to $700 over time when you bring your qualifying direct deposit to Varo and build a positive history with us. Negative repayment history may impact credit. Fees range from $1.60 - $100 based on loan amount, and deposits to your Varo Bank Account. Your current limit and applicable fees can be viewed in the Varo App. Qualifying direct deposits are electronic deposits of your paycheck, pension or government benefits (such as Social Security or unemployment) from your employer or government agency to the extent that can be identified. Tax refunds and government stimulus payments, Person-to-Person payments (such as Venmo or Varo to Anyone), and funds deposited using a Varo routing number are not considered a direct deposit.	Go to siteView details Compare product selection Compare	loading
8.8 Great Albert Instant	8.8 Great	$25 to $1,000	Within minutes	No subscription required	Advance up to $1,000 in minutes with Albert Instant.	Important information Albert is not a bank. Savings account provided by Wells Fargo, N.A., Member FDIC. Albert plans start at $19.99/mo. Try for 30 days before you're charged. Fees auto-renew until canceled. Cancel in the app. Terms apply. Albert Instant Line of Credit is an unsecured line of credit issued by FinWise Bank, a Utah chartered bank, Member FDIC. Limits range from $25-$1,000. Draw fees apply. Terms and eligibility criteria including geographic restrictions apply. In some states, Albert may offer you an Albert Instant Advance instead. Limits range from $25-$1,000, subject to terms and eligibility criteria. No Albert subscription is required for Albert Instant Line of Credit or Albert Instant Advance. See Albert Terms of Use for additional important terms.	Go to siteView details Compare product selection Compare	loading
9.4 Excellent Chime® MyPay®	9.4 Excellent	Up to $500	Instant transfers: 3% of the advance amount ($2 minimum, $5 maximum)	No subscription fees; Instant transfer fee: 3% of the advance amount ($2 minimum, $5 maximum)	Access up to $500 of your pay before payday fee-free within 24 hours. See Chime terms and conditions. MyPay is only offered in select states.	Important information MyPay® line of credit provided by The Bancorp Bank, N.A. or Stride Bank, N.A. MyPay services provided by Chime Capital, LLC (NMLS 2316451). MyPay eligibility: To be eligible for MyPay, you must receive Qualifying MyPay Direct Deposits to your Chime Checking Account as set forth in the MyPay Agreement. A Qualifying MyPay Direct Deposit is a deposit from an employer, payroll provider, gig economy payer, government benefits payer, or other permitted source of income by Automated Clearing House (“ACH”) or Original Credit Transaction (“OCT”). Your MyPay Credit Limit and Available Advance Amount may change at any time. MyPay is a line of credit and available limits are based on estimated income and risk-based criteria. Eligible members may be offered a $20 - $500 Credit Limit per pay period. Your Credit Limit and Maximum Available Advance will be displayed to you within the Chime app. MyPay is currently only available to eligible Chime members in certain states. Other restrictions may apply. See Bancorp MyPay Agreement or Stride MyPay Agreement for details. Instant funds: Option to get funds instantly for a fee of 3% of the advance amount ($2 minimum, $5 maximum) per advance, or get funds for free within 24 hours. See Bancorp MyPay Agreement or Stride MyPay Agreement for details. SpotMe: SpotMe® on Credit is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account. SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, "SpotMe"). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won’t cover non-card transactions, including ACH s, Pay Anyone s, or Chime Checkbook transactions. SpotMe terms and conditions. Early Pay: Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Savings: Chime® Checking Account is required to be eligible for a Savings Account. The 3.75% Annual Percentage Yield (APY) is only available to members with Chime Prime status, otherwise, either the 3.00% APY for members with Chime Plus status or the standard rate of 0.75% APY will apply. The APYs are effective as of 02/26/2026, are variable and may change at any time. No minimum balance required. Must have $0.01 in savings to earn interest. See Chime Membership Tiers Terms and Conditions for more details. Credit Builder: Based on a representative study conducted by Experian® in Sept 2025, the top 10% of members who made their first purchase with Credit Builder, an earlier version of Chime Card, between April and August 2024, observed a FICO® Score 8 increase of 71 points after approximately 8 months. Average increase of 28 points across all participants in the study. Credit score improvement not guaranteed. Paying on time may increase your score, while late payment may decrease your score. Other credit activity can impact your score. Credit score is one of many factors creditors may consider in evaluating credit applications.	Go to siteView details Compare product selection Compare	loading

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What is the Finder Score?

The Finder Score crunches 3+ types of short-term loans across 65+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best short-term loans for all credit types, you can see how each short-term loan stacks up against other short-term loans with the same borrower type, rate type and repayment type.

Read the full breakdown

Assistance programs available in Maryland

Maryland has a number of assistance programs you might qualify for if you’re struggling with your finances.

• Supplemental Nutrition Assistance Program (SNAP). This program helps low-income individuals and families in Maryland pay for food with an EBT card.
• Office of Home Energy Programs (OHEP). These programs help low-income Marylanders pay their heating and utility bills.
• Temporary Assistance to Needy Families (TANF). Also known as cash assistance, the program provides low-income Maryland families with financial help. Families must have assets under $1,000 to qualify.
• Medical Assistance. Also known as Medicaid, this program pays for healthcare services for eligible individuals, including medical and mental health services.
• Maryland Homelessness Prevention Program (HPP). Among other services, this program provides one-time crisis grants to cover rent for Marylanders faced with eviction.

You can explore more resources by visiting the Maryland Department of Human Services.

What are the typical costs of a loan in Maryland?

Maryland doesn’t technically ban small-dollar loans, but it limits the interest a lender can charge. For a personal loan over $2,000, the maximum interest rate is 2% per month or 24% per year. However, several factors impact the interest you pay, like your credit score, the amount you borrow, the lender and the loan term.

If you go with an online lender, you can expect to pay between 5.99% and 35.99%, with the lowest rates going to borrowers with good to excellent credit. You may also have to pay additional fees, such as application or origination fees. Like interest rates, these vary by lender. Check your loan agreement to learn the full details of what you might have to pay before you borrow.

Bottom line

While you may not be able to take out a payday loan in Maryland, there are other options to help you make ends meet. And if you’re still looking for a short-term loan, there are some installment loan options you may want to consider if you’re facing an emergency expense.

Frequently asked questions

What is the best alternative to getting a payday loan in Maryland?

If possible, borrowing from a friend or family member is your best alternative to getting a pricey payday loan. If that isn’t an option and you only need a small loan, you may want to try a cash advance app. If you need more, a personal loan might be a better solution.

Where to go when no one will give you a loan?

If you exhausted all your options, you could try a pawn shop. If you have something of value, you can either sell it outright or take out a loan. Pawn brokers typically loan you about 25% to 60% of your item’s value. Pawn shop loans aren’t cheap, but there’s no credit check, and they’re easy to get.

To make sure you get accurate and helpful information, this guide has been edited by Megan B. Shepherd as part of our fact-checking process.

Written by

Lacey Stark

Writer

Lacey Stark is a freelance personal finance writer for Finder, specializing in banking, loans, investing, estate planning, and more. She has 20 years of experience writing and editing for magazines, newspapers, and online publications. A word nerd from childhood, Lacey officially got her start reporting on live sporting events and moved on to cover topics such as construction, technology, and travel before finding her niche in personal finance. Originally from New England, she received her bachelor’s degree from the University of Denver and completed a postgraduate journalism program at Metropolitan State University also in Denver. She currently lives in Chicagoland with her dog Chunk and likes to read and play golf. See full bio