Queenstown at a glance
- Population: 739 residents, the 109th-largest of 157 places in Maryland (US Census Bureau, Vintage 2023).
- 2020 Census base: 705 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: an increase of about 4.8% since the 2020 count (US Census Bureau).
- Rank among Maryland places: the 109th-largest of 157 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 31% of Maryland's places have fewer residents (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 38.9867, -76.1633.
- Nearest larger cities: Centreville, MD (7 mi); Rock Hall, MD (11 mi); St. Michaels, MD (14 mi); Church Hill, MD (15 mi); Ridgely, MD (15 mi); US Census Bureau population estimates.
- Nearest smaller towns: Queen Anne, MD (12 mi); Hillsboro, MD (13 mi); Highland Beach, MD (17 mi) (US Census Bureau).
What a personal loan costs in Queenstown
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Maryland lending rules that apply in Queenstown
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Queenstown
Before you commit to a personal loan in Queenstown, work through these steps:
- 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.