Banning at a glance
- Population: about 31,680 residents, ranking 235th of 482 Census places in California (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 29,522 (US Census Bureau).
- 2020 to 2023 change: up roughly 7.3% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among California places: 235th in population of 482 places (US Census Bureau).
- Size percentile: larger than about 51% of the Census places in California (US Census Bureau).
- Coordinates: it sits at 33.9459, -116.8990 in the US Census Bureau Gazetteer.
- Nearest larger cities: Beaumont, CA (6 mi); Yucaipa, CA (10 mi); San Jacinto, CA (12 mi); Hemet, CA (16 mi); Redlands, CA (17 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller places: Calimesa, CA (9 mi); Big Bear Lake, CA (21 mi); Loma Linda, CA (21 mi) (US Census Bureau estimates).
What a personal loan costs in Banning
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
California lending rules that apply in Banning
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 |
|---|---|---|
| 36% rate cap on mid-size consumer loans (AB 539) | Consumer loans of $2,500 to under $10,000: cap of 36% per annum simple interest plus the Federal Funds Rate Source says: "charges at a rate not exceeding an annual simple interest rate of 36 percent per annum plus the Federal Funds Rate". | California Legislature — Financial Code § 22304.5 as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 7% per annum default; written contracts may set up to 10% per annum for consumer-purpose loans Source says: "shall be 7 percent per annum"; "for use primarily for personal, family, or household purposes, at a rate not exceeding 10 percent per annum". | California Legislature — California Constitution, Article XV, § 1 as of 2026-09-16 |
| Payday lending status | Permitted under the California Deferred Deposit Transaction Law; max $300 face amount; fee ≤15%; term up to 31 days Source says: "The face amount of the check shall not exceed three hundred dollars ($300)"; "A fee for a deferred deposit transaction shall not exceed 15 percent of the face amount of the check" (Financial Code § 23036). | California Legislature — Financial Code § 23035 (and § 23036) as of 2026-09-16 |
| Small-loan / installment lender licensing | Finance lender/broker license required from the Commissioner of Financial Protection and Innovation (California Financing Law) Source says: "No person shall engage in the business of a finance lender or broker without obtaining a license from the commissioner". | California Legislature — Financial Code § 22100 as of 2026-09-16 |
| State lending regulator | California Department of Financial Protection and Innovation (DFPI) Source says: "“Department” means the Department of Financial Protection and Innovation". | California Legislature — Financial Code § 23001 as of 2026-09-16 |
How to compare offers in Banning
The order below is a sensible way to approach a loan in Banning:
- 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 California using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.