Otterville at a glance
- Population: the Census estimates 83 residents, ranking 1,254th of 1,294 places in Illinois (Vintage 2023).
- 2020 Census base: 86 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: down roughly 3.5% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Illinois places: 1,254th-largest of 1,294 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: it exceeds roughly 3% of Illinois's Census places by population (US Census Bureau).
- Coordinates: 39.0508, -90.3984 (US Census Bureau Gazetteer).
- Nearest larger cities: Grafton, IL (5 mi); Jerseyville, IL (6 mi); Fieldon, IL (7 mi); Elsah, IL (7 mi); Portage Des Sioux, MO (9 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Champ, MO (21 mi); Annada, MO (27 mi); Country Life Acres, MO (30 mi) (Census populations).
What a personal loan costs in Otterville
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Illinois lending rules that apply in Otterville
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Permitted under license; capped at 36% annual percentage rate (payday loans) Source says: "shall not contract for or receive a charge exceeding a 36% annual percentage rate ... for a payday loan". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Installment Loan Act license required from the Director of Financial Institutions (loans above 9% APR) Source says: "No person ... shall engage in the business of making loans of money ... except ... after first obtaining a license from the Director of Financial Institutions". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| State lending regulator | Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions Source says: "DFI licenses, charters, and examines a wide variety of financial products and services including: Consumer and Sales Finance and Collection Agencies". | Illinois Department of Financial and Professional Regulation as of 2026-09-16 |
| Installment lender net-worth requirement | $30,000 minimum positive net worth (plus $25,000 surety bond) Source says: "every applicant shall prove ... that the applicant has and will maintain a positive net worth of a minimum of $30,000". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 9% annual percentage rate (general written-contract interest cap) Source says: "it shall be lawful for the parties to stipulate or agree that an annual percentage rate of 9%, or any less sum". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
How to compare offers in Otterville
Here is a short checklist for comparing personal loans in Otterville:
- 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 Illinois using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.