Millington at a glance
- Population: roughly 11,467 people; 56th of 344 places in Tennessee (Census Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 10,579 residents here (US Census Bureau).
- 2020 to 2023 change: an increase of about 8.4% since the 2020 count (US Census Bureau).
- Rank among Tennessee places: 56th out of 344 Census places (US Census Bureau).
- Size percentile: ahead of around 84% of Tennessee places in population terms (US Census Bureau).
- Coordinates: 35.3337 / -89.8995, per the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Bartlett, TN (8 mi); Lakeland, TN (11 mi); Arlington, TN (15 mi); Memphis, TN (16 mi); Germantown, TN (19 mi) (US Census Bureau).
- Nearest smaller towns: Munford, TN (9 mi); Atoka, TN (9 mi); Brighton, TN (14 mi) (US Census Bureau).
What a personal loan costs in Millington
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Tennessee lending rules that apply in Millington
The sourced rows below are the rules a licensed lender must follow when lending in Tennessee, and therefore in Millington.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | TDFI Compliance Division licenses industrial loan & thrift companies, deferred presentment companies, flexible credit companies, and other consumer lenders Source says: The Compliance Division is responsible for the licensing and regulatory supervision of the following types of financial institutions operating in Tennessee | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| State lending regulator | Tennessee Department of Financial Institutions (TDFI) Source says: The Department regulates banks, credit unions, trust companies, business and industrial development corporations, industrial loan and thrift companies | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10.75% per annum (maximum effective formula rate for written contracts, announced September 15, 2026) Source says: the maximum effective formula rate of interest in Tennessee is 10.75 percent per annum | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
| Payday lending status | Licensed; deferred presentment services (payday) lenders must obtain a TDFI license, including internet lenders (Tenn. Code Ann. § 45-17-103) Source says: deferred presentment services in this state through the use of the internet, facsimile, telephone, or other means without having first obtained a license | Tennessee Department of Financial Institutions (TDFI) as of 2026-09-16 |
How to compare offers in Millington
A few practical steps will make the process in Millington less costly:
- 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 Tennessee using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.