Monroe City at a glance
- Population: 496 people, the 412th-largest place among Indiana's 565 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 498 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: down about 0.4% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Indiana places: 412th of the state's 565 Census places (US Census Bureau).
- Size percentile: it exceeds roughly 27% of Indiana's Census places by population (US Census Bureau).
- Coordinates: it sits at 38.6145, -87.3530 in the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Petersburg, IN (9 mi); Vincennes, IN (9 mi); Washington, IN (11 mi); Bicknell, IN (11 mi); St. Francisville, IL (16 mi) (US Census Bureau).
- Nearest smaller places: Wheatland, IN (4 mi); Bruceville, IN (10 mi); Decker, IN (11 mi) (US Census Bureau estimates).
What a personal loan costs in Monroe City
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
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.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Indiana lending rules that apply in Monroe City
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Monroe City
These steps are the ones that most affect the offer you receive in Monroe City:
- 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.