Red Oak at a glance
- Population: 3,425 people, the 198th-largest place among North Carolina's 549 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 3,343 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up roughly 2.5% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among North Carolina places: 198th in population of 549 places (US Census Bureau).
- Size percentile: ahead of around 64% of North Carolina places in population terms (US Census Bureau).
- Coordinates: 36.0613 latitude, -77.9038 longitude (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Nashville, NC (7 mi); Rocky Mount, NC (8 mi); Tarboro, NC (22 mi); Wilson, NC (23 mi); Zebulon, NC (28 mi) (US Census Bureau populations).
- Nearest smaller towns: Dortches, NC (4 mi); Castalia, NC (9 mi); Momeyer, NC (11 mi) — US Census Bureau populations.
What a personal loan costs in Red Oak
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
North Carolina lending rules that apply in Red Oak
The North Carolina rate caps and licensing rules that reach Red Oak are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Consumer Finance Act installment loan rates (G.S. 53-176) | 33% per annum on unpaid balance up to $4,000; 24% on $4,000-$8,000; 18% on the remainder (loans up to $12,000); 18% for loans above $12,000 Source says: "thirty-three percent (33%) per annum on that part of the unpaid principal balance not exceeding four thousand dollars ($4,000)" | North Carolina General Assembly as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | For loans of $25,000 or less: greater of the 6-month U.S. Treasury bill rate + 6% or 16% (G.S. 24-1.1(c)); any agreed rate above $25,000 Source says: "plus six percent (6%), rounded upward or downward ... or sixteen percent (16%), whichever is greater" | North Carolina General Assembly as of 2026-09-16 |
| Payday lending status | Payday lenders shut down in North Carolina; online payday lending remains an enforcement target Source says: "Payday Lenders: Shut Down In NC, But Still Victimizing Borrowers Online" | North Carolina Department of Justice (Office of the Attorney General) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Finance Act license from the Commissioner of Banks required for loans of $25,000 or less charging more than Chapter 24 rates Source says: "Direct lenders seeking to charge rates higher than allowed under Chapter 24 on consumer term loans of twenty-five thousand dollars ($25,000) or less" | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
| State lending regulator | North Carolina Office of the Commissioner of Banks (NCCOB) Source says: "Lenders operating under the CFA must be licensed by and are subject to regulation by the NCCOB." | North Carolina Office of the Commissioner of Banks as of 2026-09-16 |
How to compare offers in Red Oak
These steps are the ones that most affect the offer you receive in Red Oak:
- 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 North Carolina using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.