Personal loans in Malden, MA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Malden, MA.
The median household in Malden earns $100,606 a year, about the same as the Massachusetts median of $103,960. About 11% of residents live below the federal poverty line, and 58.7% of households rent their home.
Massachusetts law that applies in Malden
| Rate cap | Licensed small loan companies may charge no more than 23% a year on the unpaid balance (actuarial method), plus a $20 administrative fee when the loan is made. |
|---|---|
| License required | Yes. |
| Loan sizes covered | Loans of $6,000 or less (measured by the amount the borrower actually keeps after deductions). |
Full rules with statute citations: Personal Loans in Massachusetts. Cities in Massachusetts cannot set their own payday or title loan rate caps in most cases; zoning rules for storefronts are local.
What you need for a personal loan in Malden
Here's what to have on hand before you start your personal loan request in Malden:
- Be 18 or older and a US resident
- Your Social Security number for identity verification
- A steady source of income
- An active checking account in your name
- A working phone number and email address
Popular loan amounts in Malden
What Malden borrowers use it for
the fastest options online
Holiday expensesgifts and travel without maxing a card
Emergencieshandle the unexpected the same week
Moving costsdeposits, trucks and first-week expenses
Loans for your situation
How to get a personal loan in Malden
- Choose an amount from $100 to $5,000 and complete one form.
- Lenders in our network review your request; many accept fair or bad credit.
- Compare the APR, monthly payment and total cost on any offer.
- If you accept, money is usually deposited in 1–2 business days.
Estimate your cost
Personal / installment loan calculator
Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Banks and credit unions in the area
Banks with branches in Malden
10 FDIC-insured bank branches from 8 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Citizens Bank, National Association | 3 | 225 Pleasant St, Malden 02148 |
| Eastern Bank | 1 | 140 Ferry St, Malden 02148 |
| Bank of America, National Association | 1 | 151 Centre St, Malden 02148 |
| Beacon Bank and Trust | 1 | 196 Commercial St, Malden 02148 |
| Salem Five Cents Savings Bank | 1 | 90 Highland Ave, Malden 02148 |
| Manufacturers and Traders Trust Company | 1 | 51 Commercial St, Malden 02148 |
| East Cambridge Savings Bank | 1 | 98 Pleasant St, Malden 02148 |
| JPMorgan Chase Bank, National Association | 1 | 361 Main St, Malden 02148 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Malden
1 credit-union locations from 1 credit unions.
| Credit union | Location |
|---|---|
| Malden | 10 Holden St, Malden 02148 |
Source: NCUA credit union branch data, June 30, 2026.
Nearby cities
County: Middlesex County ·
Frequently asked questions
Can I get a personal loan with bad credit in Malden?
Possibly. Lenders in our network consider applicants with fair and bad credit across Massachusetts, including Malden. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Malden, MA?
23% APR plus $20 fee on loans up to $6,000; 20% usury above.
How fast can I get a personal loan in Malden?
Many online lenders give a decision within minutes and deposit funds in one to two business days after you sign. Your bank's processing time can add a day.
Are personal loans bad for your credit?
Not necessarily. Checking offers often uses a soft inquiry that doesn't affect your score, though a lender may do a hard pull before final approval. Once you have the loan, on-time payments can help build your credit history, especially with lenders that report to the major bureaus, while missed payments can lower your score. Malden residents can see their options in about 3 minutes.
How do installment loans work in Malden?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Malden residents can see installment loan offers with our free 3-minute form.
Where can I find a loan for bad credit in Malden?
You can apply at local banks and lenders in Malden, or go online to reach more lenders at once. Banks often have stricter credit requirements, while many online lenders consider all credit types. Our free form sends one request to multiple lenders in our network, so you don't have to apply one by one. Many applicants get a decision within minutes.
What credit score do I need for a personal loan?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Malden with our free 3-minute form.
Can I get an emergency loan with bad credit in Malden?
Yes, many emergency loan lenders consider borrowers with bad credit. They often put more weight on your current income and ability to repay than on past credit problems. Approval isn't guaranteed, but applying through our network lets you reach multiple lenders with a single request instead of applying again and again. Malden residents can see if they qualify in about 3 minutes.
Do I need to visit a store in Malden?
No. You can request offers online from a phone or computer. Some lenders, especially title lenders, may ask you to visit a location or send photos of your vehicle.