Personal loans in Medford, MA
U.S. Census Bureau, ACS 2020–2024 5-year estimates for Medford, MA.
The median household in Medford earns $129,540 a year, 25% above the Massachusetts median of $103,960. About 8% of residents live below the federal poverty line, and 45.9% of households rent their home.
Massachusetts law that applies in Medford
| 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 Medford
Here's what to have on hand before you start your personal loan request in Medford:
- 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 Medford
What Medford borrowers use it for
cover a short gap before payday
Holiday expensesgifts and travel without maxing a card
Moving costsdeposits, trucks and first-week expenses
Need money nowthe fastest options online
Loans for your situation
How to get a personal loan in Medford
- 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 Medford
13 FDIC-insured bank branches from 9 banks. Many banks offer small-dollar loans or overdraft lines to existing customers.
| Bank | Branches | Example location |
|---|---|---|
| Beacon Bank and Trust | 3 | 60 High St, Medford 02155 |
| Middlesex Federal Savings, F.A. | 2 | 53 Riverside Ave, Medford 02155 |
| East Cambridge Savings Bank | 2 | 243 Salem St, Medford 02155 |
| Citizens Bank, National Association | 1 | 1 Riverside Ave, Medford 02155 |
| Bank of America, National Association | 1 | 40 Locust Street, Medford 02155 |
| Eastern Bank | 1 | 503 Riverside Avenue, Medford 02155 |
| Rockland Trust Company | 1 | 410 Riverside Ave, Medford 02155 |
| Needham Bank | 1 | 400 Mystic Ave, Medford 02155 |
Source: FDIC BankFind Suite, retrieved Oct 2026.
Credit unions in Medford
4 credit-union locations from 4 credit unions.
| Credit union | Location |
|---|---|
| Usalliance | 71 Station Lndg, Medford 02155 |
| Metro | 1 Salem St, Medford 02155 |
| Members Plus | 29 High St, Medford 02155 |
| Medford Municipal Employees | 85 George P Hassett Dr Rm 200, Medford 02155 |
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 Medford?
Possibly. Lenders in our network consider applicants with fair and bad credit across Massachusetts, including Medford. Expect higher APRs than prime borrowers get, and compare every offer's total cost.
Is there a maximum interest rate on personal loans in Medford, MA?
23% APR plus $20 fee on loans up to $6,000; 20% usury above.
How fast can I get a personal loan in Medford?
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.
Can I get an emergency loan with bad credit in Medford?
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. Medford residents can see if they qualify in about 3 minutes.
How do I apply for a personal loan with bad credit in Medford?
Start by gathering your ID, proof of income and bank account details. Then complete our online form with accurate information about your income and the amount you need. Lenders in our network review your request, and many respond within minutes. Asking for an amount that fits your income can improve your chances. If you're approved, you'll review the full terms before signing.
What is an installment loan?
An installment loan is money you borrow and repay in fixed, scheduled payments, usually every two weeks or monthly, until it's paid off. Personal loans, auto loans and many short-term loans are installment loans. Because repayment is spread out, each payment is smaller than a lump sum. Lenders in our network offer installment loans from $100 to $5,000 to Medford borrowers who qualify.
Can I get a personal loan in Medford with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Medford residents can see if they qualify for $100 to $5,000 in about 3 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 Medford with our free 3-minute form.
Do I need to visit a store in Medford?
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.