Palmyra at a glance
- Population: about 3,600, 169th by size in Missouri of 937 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 3,621 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: population fell about 0.6% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Missouri places: 169th in population of 937 places (US Census Bureau).
- Size percentile: larger than about 82% of the Census places in Missouri (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 39.7978, -91.5265.
- Nearest larger cities: Hannibal, MO (9 mi); Quincy, IL (12 mi); Bowling Green, MO (36 mi); Pittsfield, IL (40 mi); Keokuk, IA (43 mi); each population is a US Census Bureau estimate.
- Nearest smaller towns: Rensselaer, MO (9 mi); Monroe City, MO (15 mi); Payson, IL (15 mi) — US Census Bureau populations.
What a personal loan costs in Palmyra
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Missouri lending rules that apply in Palmyra
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Additional loan fee cap (30+ day loans) | Up to 10% of principal, capped at $100 (RSMo § 408.140) Source says: "a fee, not to exceed ten percent of the principal amount loaned not to exceed one hundred dollars may be charged by the lender" | Missouri Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 10% per annum, or the higher published 'market rate' (RSMo § 408.030) Source says: "a rate of interest not exceeding ten percent per annum on money due or to become due upon any contract" | Missouri Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed — unsecured loans of $500 or less require a license from the Director of the Division of Finance (RSMo § 408.500) Source says: "in the business of making unsecured loans of five hundred dollars or less shall obtain a license from the director of the division of finance" | Missouri Revisor of Statutes as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer credit lenders licensed and regulated by the Division of Finance's consumer credit section (Chapters 367 and 408, RSMo) Source says: "The consumer credit section of the Missouri Division of Finance is responsible for licensing and regulating various types of consumer finance companies" | Missouri Division of Finance as of 2026-09-16 |
| State lending regulator | Missouri Division of Finance (Department of Commerce and Insurance) Source says: "We regulate state-chartered banks, trust companies, consumer credit facilities, mortgage brokers, and savings and loan institutions" | Missouri Division of Finance as of 2026-09-16 |
How to compare offers in Palmyra
These steps are the ones that most affect the offer you receive in Palmyra:
- 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 Missouri using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.