Deposit at a glance
- Population: a Census-estimated 1,421, placing it 368th among New York's 595 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 1,456 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 2.4% below the 2020 Census base (US Census Bureau).
- Rank among New York places: 368th by size among 595 communities (US Census Bureau).
- Size percentile: it is larger than about 38% of the places in New York (US Census Bureau).
- Coordinates: 42.0642 latitude, -75.4229 longitude (US Census Bureau Gazetteer).
- Nearest larger cities within 120 miles: Walton, NY (17 mi); Sidney, NY (17 mi); Port Dickinson, NY (25 mi); Binghamton, NY (25 mi); Greene, NY (25 mi) (US Census Bureau).
- Smaller towns nearby: Lanesboro, PA (10 mi); Hancock, NY (11 mi); Windsor, NY (11 mi) (US Census Bureau).
What a personal loan costs in Deposit
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
New York lending rules that apply in Deposit
Read the table as the compliance picture for a lender serving Deposit: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Deposit
Run through this list before signing anything in Deposit:
- 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.