Chester at a glance
- Population: 3,996, the 194th-largest community in New York out of 595 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 4,090 residents here (US Census Bureau).
- 2020 to 2023 change: roughly 2.3% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among New York places: 194th-largest of 595 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 67% of places in New York rank below it by population (US Census Bureau).
- Coordinates: 41.3569, -74.2769 (US Census Bureau Gazetteer).
- Nearest larger cities: Goshen, NY (4 mi); Monroe, NY (5 mi); Kiryas Joel, NY (6 mi); Washingtonville, NY (8 mi); Warwick, NY (8 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Florida, NY (4 mi); South Blooming Grove, NY (6 mi); Harriman, NY (8 mi), each a US Census place.
What a personal loan costs in Chester
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
New York lending rules that apply in Chester
The table carries the New York rate and licensing rules that apply to consumer loans made in Chester.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
How to compare offers in Chester
These steps are the ones that most affect the offer you receive in Chester:
- 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.