Chesapeake Beach at a glance
- Population: 6,492 — 34th in Maryland, which has 157 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 6,351 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: up about 2.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Maryland places: 34th of 157 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 78% of the places in Maryland (US Census Bureau).
- Coordinates: 38.6895 latitude, -76.5544 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Annapolis, MD (20 mi); Bowie, MD (21 mi); La Plata, MD (25 mi); New Carrollton, MD (26 mi); Bladensburg, MD (27 mi) (US Census Bureau populations).
- Smaller places nearby: North Beach, MD (2 mi); Eagle Harbor, MD (11 mi); Upper Marlboro, MD (14 mi), per US Census Bureau estimates.
What a personal loan costs in Chesapeake Beach
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Maryland lending rules that apply in Chesapeake Beach
The table lists the Maryland rules that apply to a loan made in Chesapeake Beach, each with the regulator that published it.
| 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 Chesapeake Beach
These steps are the ones that most affect the offer you receive in Chesapeake Beach:
- 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.