Monticello at a glance
- Population: 5,543 — 116th in Indiana, which has 565 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 5,515 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: about 0.5% more residents than the 2020 Census base (US Census Bureau).
- Rank among Indiana places: the 116th-largest of 565 (US Census Bureau, 2023 estimate).
- Size percentile: it is larger than about 79% of the places in Indiana (US Census Bureau).
- Coordinates: 40.7452 latitude, -86.7673 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Logansport, IN (22 mi); West Lafayette, IN (22 mi); Lafayette, IN (24 mi); Rensselaer, IN (25 mi); Frankfort, IN (35 mi) (Census populations, approximate straight-line distance).
- Smaller places nearby: Reynolds, IN (6 mi); Yeoman, IN (6 mi); Chalmers, IN (8 mi), per US Census Bureau estimates.
What a personal loan costs in Monticello
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.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Indiana lending rules that apply in Monticello
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| 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 Monticello
These steps are the ones that most affect the offer you receive in Monticello:
- 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.