Otterbein at a glance
- Population: about 1,130 residents, ranking 284th of 565 Census places in Indiana (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 1,144 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down about 1.2% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Indiana places: the 284th-largest of 565 (US Census Bureau, 2023 estimate).
- Size percentile: about 50% of Indiana's Census places are smaller (US Census Bureau).
- Coordinates: latitude 40.4882, longitude -87.0878 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Oxford, IN (9 mi); West Lafayette, IN (9 mi); Shadeland, IN (12 mi); Battle Ground, IN (12 mi); Lafayette, IN (13 mi) (US Census Bureau).
- Smaller places close by: Pine Village, IN (9 mi); Boswell, IN (15 mi); Chalmers, IN (17 mi) (US Census Bureau).
What a personal loan costs in Otterbein
With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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 Otterbein
Each row below is a Indiana rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Otterbein
The steps below are worth completing first when you borrow in Otterbein:
- 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.