Odon at a glance
- Population: 1,383 people, the 257th-largest place among Indiana's 565 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 1,395 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 0.9% lower than the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 257th-largest of 565 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: roughly 55% of places in Indiana rank below it by population (US Census Bureau).
- Coordinates: 38.8423, -86.9885 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Loogootee, IN (12 mi); Bloomfield, IN (13 mi); Washington, IN (16 mi); Linton, IN (16 mi); Bicknell, IN (18 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Elnora, IN (6 mi); Newberry, IN (6 mi); Crane, IN (6 mi), per US Census Bureau estimates.
What a personal loan costs in Odon
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
If you are consolidating debt, the loan only helps if you stop adding to the balances it clears; otherwise the total debt grows.
Indiana lending rules that apply in Odon
Each row below is a Indiana rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Odon
Here is a short checklist for comparing personal loans in Odon:
- 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.