North Salem at a glance
- Population: about 472 residents, ranking 417th of 565 Census places in Indiana (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 count put the population at 462 (US Census Bureau).
- 2020 to 2023 change: up roughly 2.2% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Indiana places: 417th out of 565 Census places (US Census Bureau).
- Size percentile: about 26% of Indiana's Census places are smaller (US Census Bureau).
- Coordinates: mapped at 39.8600, -86.6437 by the US Census Bureau Gazetteer.
- Nearest larger cities: Jamestown, IN (5 mi); Lizton, IN (6 mi); Roachdale, IN (8 mi); Ladoga, IN (9 mi); Advance, IN (9 mi) (Census populations, approximate straight-line distance).
- Nearest smaller places: New Ross, IN (8 mi); Amo, IN (12 mi); Stilesville, IN (15 mi) (US Census Bureau estimates).
What a personal loan costs in North Salem
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Indiana lending rules that apply in North Salem
The sourced rows below are the rules a licensed lender must follow when lending in Indiana, and therefore in North Salem.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in North Salem
Here is a short checklist for comparing personal loans in North Salem:
- 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.