Parnell at a glance
- Population: 189 people, the 679th-largest place among Iowa's 940 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 193 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down about 2.1% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among Iowa places: 679th of 940 by population (US Census Bureau, Vintage 2023).
- Size percentile: it is larger than about 28% of the places in Iowa (US Census Bureau).
- Coordinates: 41.5837 latitude, -92.0044 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Williamsburg, IA (6 mi); North English, IA (6 mi); South English, IA (10 mi); Wellman, IA (12 mi); Oxford, IA (15 mi), each a US Census place with its estimated population.
- Smaller towns nearby: Millersburg, IA (8 mi); Kinross, IA (9 mi); Webster, IA (13 mi) (US Census Bureau).
What a personal loan costs in Parnell
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
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 lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Iowa lending rules that apply in Parnell
The sourced rows below are the rules a licensed lender must follow when lending in Iowa, and therefore in Parnell.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Parnell
The order below is a sensible way to approach a loan in Parnell:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.