Melbourne at a glance
- Population: a Census-estimated 768, placing it 338th among Iowa's 940 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 788 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down roughly 2.5% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Iowa places: 338th in population of 940 places (US Census Bureau).
- Size percentile: it exceeds roughly 64% of Iowa's Census places by population (US Census Bureau).
- Coordinates: mapped at 41.9416, -93.1023 by the US Census Bureau Gazetteer.
- Nearest larger cities: State Center, IA (6 mi); Baxter, IA (8 mi); Marshalltown, IA (12 mi); Colo, IA (12 mi); Maxwell, IA (15 mi) (Census populations, approximate straight-line distance).
- Smaller places close by: Rhodes, IA (4 mi); Haverhill, IA (7 mi); Laurel, IA (10 mi) (US Census Bureau).
What a personal loan costs in Melbourne
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
Iowa lending rules that apply in Melbourne
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Melbourne
These steps are the ones that most affect the offer you receive in Melbourne:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.