Ovid at a glance
- Population: the Census estimates 532 residents, ranking 515th of 595 places in New York (Vintage 2023).
- 2020 Census base: 552 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: about 3.6% lower than the 2020 Census base (US Census Bureau).
- Rank among New York places: 515th of the state's 595 Census places (US Census Bureau).
- Size percentile: it is larger than about 13% of the places in New York (US Census Bureau).
- Coordinates: it sits at 42.6756, -76.8229 in the US Census Bureau Gazetteer.
- Nearest larger cities (within 120 miles): Interlaken, NY (6 mi); Aurora, NY (8 mi); Penn Yan, NY (12 mi); Trumansburg, NY (12 mi); Dundee, NY (13 mi) (US Census Bureau populations).
- Smaller towns nearby: Lodi, NY (4 mi); Dresden, NY (7 mi); Cayuga, NY (18 mi) (US Census Bureau).
What a personal loan costs in Ovid
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
New York lending rules that apply in Ovid
The table lists the New York rules that apply to a loan made in Ovid, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
How to compare offers in Ovid
Here is a short checklist for comparing personal loans in Ovid:
- 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.