Bancroft at a glance
- Population: 384, the 165th-largest community in West Virginia out of 230 (US Census Bureau, Vintage 2023).
- 2020 Census base: 388 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 1.0% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among West Virginia places: 165th-largest of 230 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 28% of West Virginia's places have fewer residents (US Census Bureau).
- Coordinates: it sits at 38.5107, -81.8414 in the US Census Bureau Gazetteer.
- Nearest larger cities: Winfield, WV (3 mi); Poca, WV (3 mi); Eleanor, WV (5 mi); Nitro, WV (7 mi); St. Albans, WV (9 mi); US Census Bureau population estimates.
- Nearest smaller communities: Leon, WV (18 mi); Athalia, OH (25 mi); Henderson, WV (27 mi), each a US Census place.
What a personal loan costs in Bancroft
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
West Virginia lending rules that apply in Bancroft
The sourced rows below are the rules a licensed lender must follow when lending in West Virginia, and therefore in Bancroft.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | West Virginia Division of Financial Institutions (WV DFI) Source says: The West Virginia Division of Financial Institutions is charged with the regulation and supervision of financial institutions chartered by the State of West Virginia. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 31% per year on unsecured loans of $3,500 or less; 27% on $3,500–$15,000; 18% above $15,000 (W. Va. Code § 46A-4-107) Source says: the loan finance charge, calculated according to the actuarial method, may not exceed 31 percent per year | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
| Payday lending status | Traditional payday lending is generally prohibited; check cashers are regulated under W. Va. Code ch. 32A Source says: Traditional "Payday Lenders" are generally prohibited within this state. | West Virginia Division of Financial Institutions (WV DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated consumer lender license required from the Commissioner (W. Va. Code § 46A-4-101) Source says: Unless a person has first obtained a license from the commissioner authorizing the person to make regulated consumer loans | West Virginia Legislature (West Virginia Code) as of 2026-09-16 |
How to compare offers in Bancroft
The order below is a sensible way to approach a loan in Bancroft:
- 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 West Virginia using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.