Redmond at a glance
- Population: a Census-estimated 80,280, placing it 16th among Washington's 281 places (Vintage 2023 subcounty estimate).
- 2020 Census base: the 2020 Census recorded 73,253 residents here (US Census Bureau).
- 2020 to 2023 change: roughly 9.6% higher than at the 2020 Census (US Census Bureau).
- Rank among Washington places: 16th out of 281 Census places (US Census Bureau).
- Size percentile: ahead of around 94% of Washington places in population terms (US Census Bureau).
- Coordinates: mapped at 47.6779, -122.1153 by the US Census Bureau Gazetteer.
- Nearest larger cities: Kirkland, WA (4 mi); Bellevue, WA (6 mi); Seattle, WA (12 mi); Renton, WA (14 mi); Everett, WA (20 mi); each population is a US Census Bureau estimate.
- Smaller places nearby: Yarrow Point, WA (5 mi); Woodinville, WA (6 mi); Clyde Hill, WA (6 mi), per US Census Bureau estimates.
What a personal loan costs in Redmond
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
Lenders weigh your credit history, income and debts when they set the rate, and the term you choose then determines how that rate compounds into total cost.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Washington lending rules that apply in Redmond
The Washington rate caps and licensing rules that reach Redmond are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| Payday lending status | Licensed; small loans capped at $700 or 30% of monthly income, max 45 days, fees 15% on first $500 and 10% above (RCW 31.45) Source says: Payday lenders must be licensed by DFI — including online lenders that do business with Washington residents. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Loan Company license required (Consumer Loan Act, RCW 31.04.035) Source says: No person may engage in any activity subject to this chapter without first obtaining and maintaining a license in accordance with this chapter. | Washington State Legislature (RCW) as of 2026-09-16 |
| State lending regulator | Washington State Department of Financial Institutions (DFI) Source says: DFI licenses and regulates financial institutions and service providers in Washington. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum, or four points above the Federal Reserve bill rate, whichever is higher (RCW 19.52.020) Source says: any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) Twelve percent per annum | Washington State Legislature (RCW) as of 2026-09-16 |
How to compare offers in Redmond
Run through this list before signing anything in Redmond:
- 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 Washington using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.