Berlin at a glance
- Population: a Census-estimated 5,346, placing it 43rd among Maryland's 157 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 5,041 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: population rose about 6.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Maryland places: the 43rd-largest of 157 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 73% of Maryland's places have fewer residents (US Census Bureau).
- Coordinates: mapped at 38.3315, -75.2154 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Ocean City, MD (9 mi); Millsboro, DE (18 mi); Salisbury, MD (20 mi); Fruitland, MD (22 mi); Georgetown, DE (26 mi) (US Census Bureau).
- Nearest smaller places: Willards, MD (8 mi); Selbyville, DE (9 mi); Pittsville, MD (11 mi) (US Census Bureau estimates).
What a personal loan costs in Berlin
Unlike a revolving credit card, a personal loan is closed-end: the balance falls on a fixed schedule and the payment does not change.
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.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Maryland lending rules that apply in Berlin
Each row below is a Maryland rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Berlin
Before you share your details with a lender in Berlin:
- 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.