Monticello at a glance
- Population: about 1,384 residents, ranking 131st of 299 Census places in Mississippi (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 1,443 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 4.1% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Mississippi places: 131st largest of 299 (US Census Bureau).
- Size percentile: roughly 56% of places in Mississippi rank below it by population (US Census Bureau).
- Coordinates: 31.5532 / -90.1187, per the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Wesson, MS (19 mi); Brookhaven, MS (19 mi); Hazlehurst, MS (27 mi); Columbia, MS (27 mi); Summit, MS (28 mi) (US Census Bureau populations).
- Nearest smaller towns: Silver Creek, MS (8 mi); Prentiss, MS (15 mi); New Hebron, MS (15 mi) — US Census Bureau populations.
What a personal loan costs in Monticello
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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 term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Mississippi lending rules that apply in Monticello
The table lists the Mississippi rules that apply to a loan made in Monticello, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Mississippi Department of Banking and Consumer Finance (DBCF) Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Delayed-deposit (payday) fee caps | $20 per $100 advanced on checks ≤$250; $21.95 per $100 on checks over $250 (DBCF rule) Source says: "Delayed deposit transaction: $20.00 per $100.00 advanced for checks $250.00 and under" | Mississippi Secretary of State (DBCF administrative regulations) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification. | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Payday lending status | Legal and licensed — check cashers (delayed-deposit/payday transactions) are licensed consumer-finance industries regulated by DBCF (Miss. Code § 75-67-501 et seq.) Source says: "These industries include Money Transmitter, Small Loan, Check Cashers, Pawnbroker, Title Pledge, Consumer Loan Broker" | Mississippi Department of Banking and Consumer Finance as of 2026-09-16 |
| Small-loan / installment lender licensing | Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105) Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license" | Mississippi Department of Banking and Consumer Finance 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 Mississippi using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.