Annapolis at a glance
- Population: roughly 40,552 people; 7th of 157 places in Maryland (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 40,804 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: roughly 0.6% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Maryland places: 7th-largest of 157 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it exceeds roughly 96% of Maryland's Census places by population (US Census Bureau).
- Coordinates: mapped at 38.9722, -76.5053 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Bowie, MD (13 mi); Baltimore, MD (23 mi); Washington, DC (28 mi); Alexandria, VA (33 mi); Rockville, MD (36 mi) (US Census Bureau).
- Smaller towns nearby: Highland Beach, MD (4 mi); Upper Marlboro, MD (17 mi); North Beach, MD (18 mi) (US Census Bureau).
What a personal loan costs in Annapolis
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Maryland lending rules that apply in Annapolis
Each row below is a Maryland rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| OFR consumer-loan interest-rate limits | 2.75%/month (33%/yr) on the first $1,000 of a loan ≤$2,000; 2%/month (24%/yr) thereafter and on loans over $2,000 Source says: "Maximum interest rate allowed by law is 2.75% per month or an annual interest rate of 33%" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 24% per year effective simple interest for qualifying loans (Md. Code Com. Law § 12-103(c)); otherwise 8% (written agreement) or 18% Source says: "a lender may charge an effective rate of simple interest not in excess of 24 percent per year on the unpaid principal balance" | Maryland General Assembly as of 2026-09-16 |
| Payday lending status | Regulated as consumer loans: licensing and statutory interest-rate limits apply to payday-style loans (OFR) Source says: "they are prohibited from charging or receiving an interest rate that is greater than authorized by the laws of this State" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Lender license required to make loans under the Maryland Consumer Loan Law (Com. Law § 12-301 et seq.) Source says: "A Consumer Lender is a business that makes any loan or advance of money or credit under the Maryland Consumer Loan Law" | Maryland Department of Labor, Office of Financial Regulation as of 2026-09-16 |
| State lending regulator | Office of Financial Regulation; Commissioner of Financial Regulation (Maryland Department of Labor) Source says: "is Maryland's consumer financial protection agency and financial services regulator" | Maryland Department of Labor as of 2026-09-16 |
How to compare offers in Annapolis
A few practical steps will make the process in Annapolis less costly:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Maryland using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.