Gary at a glance
- Population: the Census estimates 67,652 residents, ranking 10th of 565 places in Indiana (Vintage 2023).
- 2020 Census base: the 2020 Census recorded 69,089 residents here (US Census Bureau).
- 2020 to 2023 change: about 2.1% below the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 10th of 565 by population (US Census Bureau, Vintage 2023).
- Size percentile: it exceeds roughly 98% of Indiana's Census places by population (US Census Bureau).
- Coordinates: it sits at 41.5907, -87.3471 in the US Census Bureau Gazetteer.
- Nearest larger cities: Hammond, IN (8 mi); Chicago, IL (24 mi); Cicero, IL (28 mi); Evanston, IL (36 mi); Bolingbrook, IL (40 mi); US Census Bureau population estimates.
- Smaller places close by: New Chicago, IN (4 mi); Lake Station, IN (5 mi); Griffith, IN (6 mi) (US Census Bureau).
What a personal loan costs in Gary
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Indiana lending rules that apply in Gary
Read the table as the compliance picture for a lender serving Gary: label, sourced figure, publisher and date.
| Rule | Detail | Source |
|---|---|---|
| Small-loan size limit | $825 maximum aggregate small-loan principal per borrower Source says: "Lenders cannot have loans ... outstanding with you at any one time if the aggregate principal amount/amount financed exceeds $825". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: Indiana Code IC 24-4.5-3-508 sets tiered maximum loan finance charges for supervised loans; the official code site renders client-side and the figure could not be confirmed from a fetched page, so no figure is asserted. | Indiana General Assembly (Indiana Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (small loans); finance charges capped at 15% of the first $250 (tiered above) Source says: "Finance charges on the first $250 of a small loan are limited to 15% of the principal". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan / installment lender licensing | Small Loan License required (IUCCC; separate Consumer Loan License for IC 24-4.5-3 loans) Source says: "unless a person is a supervised financial organization or has first obtained a small loan license from the Department of Financial Institutions (DFI)". | Indiana Department of Financial Institutions as of 2026-09-16 |
| State lending regulator | Indiana Department of Financial Institutions (DFI), Consumer Credit Division Source says: "The industries regulated by the Consumer Credit Division are: non-depository small loan ("payday") lenders; traditional installment lenders". | Indiana Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Gary
Before you share your details with a lender in Gary:
- 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 Indiana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.