MaxLend Installment Loans Review

Is MaxLend legit?

Yes, MaxLend is a legitimate provider of installment loans. Founded in 2012, the company has a solid reputation on Trustpilot for providing fast loans for borrowers with bad credit or limited credit history. It uses standard security measures to protect user data and doesn’t share your data with third parties.

But as a tribal lender, it doesn’t have to follow state laws regarding interest rate limits. That’s how it’s able to charge APRs of 471% and up.

Where MaxLend falls short

The biggest downside of borrowing from MaxLend is the high interest rates the company charges. APRs range between a whopping 471% and 841%, including origination fees. With rates this high, many customers complain that they’re making large payments with barely any of it going towards the principal balance, keeping them locked into a debt that’s difficult to repay.

A personal loan offers much better rates if you can qualify for one. If credit is a barrier and you only need a small amount to get you through to the next payday, maybe try a cash advance app instead.

Loan limits are also low. First-time borrowers qualify for a maximum loan of $2,000, while repeat users can borrow up to $3,750.

MaxLend also isn’t available in all 50 states, either. If you live in Arkansas, Connecticut, Georgia, Hawaii, Illinois, Massachusetts, Minnesota, New Jersey, New York, North Dakota, Pennsylvania, Vermont, Virginia, Washington or West Virginia, you’ll need to look for other loan options.

What makes MaxLend shine?

MaxLend shines in its ability to provide emergency installment loans to borrowers with bad credit or no credit history. The application process is simple and straightforward. You can apply over the phone or fill out an online application, then speak to a representative. Funds arrive quickly, with many receiving loans within one business day.

MaxLend loan details

Loan amounts	Up to $2,000 for first-time borrowers Up to $3,750 for repeat borrowers
Terms	9 months
Turnaround	As soon as the same day
Minimum credit score	No minimum
Additional requirements	At least 18 years old Resident of the United States Checking account with direct deposit No current bankruptcies
APR	471% to 841%
Fees	Origination fees, late payment and non-payment fees may apply No early payment penalties
Availability	Not available in: Arkansas, Connecticut, Georgia, Hawaii, Illinois, Massachusetts, Minnesota, New Jersey, New York, North Dakota, Pennsylvania, Vermont, Virginia, Washington, West Virginia

MaxLend contact information

Phone number	877-936-4336
Customer service hours	24 hours a day, 7 days a week
Email	CustomerService@MaxLend.com
X, formerly Twitter	@MaxLendLoans

Calculate your monthly loan payments

If you’re curious about how much a loan will cost you, simply plug your expected loan amount, repayment term and interest rate into the calculator below to find out.

How to qualify for MaxLend

MaxLend’s online loan application is easy to complete. For loan approval, you must:

• Be at least 18 years old
• Be a US citizen
• Have a valid checking account
• Have verifiable income deposited into your checking account
• Not be in an active bankruptcy or planning to file for one

MaxLend assesses your application based on your ability to meet its minimum income requirements, which confirms to lenders your ability to repay your loan on time.

How to apply

You can apply online or by phone. To apply by phone, call 877-936-4336 and speak with a MaxLend representative who’ll complete your application.

To apply online, follow the four steps below:

1. Go to the MaxLend website, select the loan amount you’re interested in and then click Apply Now.
2. Enter your personal information, including your email address, Social Security number and address.
3. Provide your income and financial details, including your source of income, pay frequency, bank routing and account numbers.
4. Continue through the remaining steps, confirm your information and submit your application.

After you’ve submitted your information, a MaxLend representative calls you during business hours to verify your information. If your loan is approved, you receive an email confirmation that contains a copy of your application. MaxLend deposits the funds into your account within one business day.

How MaxLend compares to other lenders

MaxLend reviews and complaints

Reviews on the Better Business Bureau (BBB) and Trustpilot sites paint two very different pictures of MaxLend. On the BBB, the vast majority of reviews are negative, with customers complaining about high, “predatory” interest rates and issues with the company’s website, including difficulty making payments and e-signing documents.

But on Trustpilot, 83% of all customers give the company a five- or four-star rating. Satisfied customers often comment on the easy application process, fast loan disbursement and helpful customer service agents.

There are also negative reviews on Trustpilot, with 12% of past customers leaving just a single star. The most common complaint is high interest rates in the triple digits. Several customers complain specifically about making large payments every other week, but making little progress on the principal balance.

What do people on Reddit say?

People on Reddit have few positive things to say about MaxLend. In response to posters who ask if they should use the company, many Redditors join the conversation and warn against it, primarily due to the extremely high interest rates the company charges, which can trap users in a cycle of debt. One person specifically recommended getting a loan from a credit union instead, since credit unions have rate caps.

Frequently asked questions

What kind of company is MaxLend?

MaxLend is a company that offers installment loans. It is wholly owned and operated by the Mandan, Hidatsa and Arikara Nation, a federally recognized sovereign American Indian Tribe. As a sovereign tribe, it doesn’t have to follow state laws that limit interest rates, which explains why the company is able to charge triple-digit APRs.

How does MaxLend work?

To get a loan through MaxLend, you can apply either online or on the phone. You’ll need to provide some basic personal and financial information to get a loan offer. Repayments are made either weekly, bi-weekly or monthly, depending on your loan amount, interest rate and rewards level.

How long does it take for MaxLend to deposit money?

MaxLend claims it can deposit funds into your account as soon as the same day, though some users report it took several business days.

Can you pay off a MaxLend loan early?

Yes, you can pay off a loan from MaxLend early with no prepayment penalties.

I recently filed for bankruptcy. Can I still get a MaxLend loan?

Probably not. MaxLend doesn’t approve applicants who are currently in bankruptcy or intend to voluntarily file for bankruptcy. You can contact the lender directly to discuss your specific circumstance, though. Or you could compare your options for bankruptcy loans.

How do I become a MaxLend Preferred Member?

Borrowers are automatically enrolled in the MaxLend Preferred Rewards program, which comes with access to larger loans and lower APRs. Log in to your MaxLend account to check the status of your level.