Reynolds at a glance
- Population: about 536, 403rd by size in Indiana of 565 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 531 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: roughly 0.9% higher than at the 2020 Census (US Census Bureau).
- Rank among Indiana places: 403rd largest of 565 (US Census Bureau).
- Size percentile: it exceeds roughly 29% of Indiana's Census places by population (US Census Bureau).
- Coordinates: 40.7492, -86.8743 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Monticello, IN (6 mi); Monon, IN (8 mi); Wolcott, IN (9 mi); Brookston, IN (10 mi); Remington, IN (13 mi), each a US Census place with its estimated population.
- Smaller places nearby: Chalmers, IN (6 mi); Yeoman, IN (10 mi); Burnettsville, IN (15 mi), per US Census Bureau estimates.
What a personal loan costs in Reynolds
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 longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Indiana lending rules that apply in Reynolds
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: Indiana Code IC 24-4.5-3-508 sets tiered maximum loan finance charges for supervised loans; the official code site renders client-side and the figure could not be confirmed from a fetched page, so no figure is asserted. | Indiana General Assembly (Indiana Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (small loans); finance charges capped at 15% of the first $250 (tiered above) Source says: "Finance charges on the first $250 of a small loan are limited to 15% of the principal". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan / installment lender licensing | Small Loan License required (IUCCC; separate Consumer Loan License for IC 24-4.5-3 loans) Source says: "unless a person is a supervised financial organization or has first obtained a small loan license from the Department of Financial Institutions (DFI)". | Indiana Department of Financial Institutions as of 2026-09-16 |
| State lending regulator | Indiana Department of Financial Institutions (DFI), Consumer Credit Division Source says: "The industries regulated by the Consumer Credit Division are: non-depository small loan ("payday") lenders; traditional installment lenders". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan size limit | $825 maximum aggregate small-loan principal per borrower Source says: "Lenders cannot have loans ... outstanding with you at any one time if the aggregate principal amount/amount financed exceeds $825". | Indiana Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Reynolds
Before you commit to a personal loan in Reynolds, work through these steps:
- 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 Indiana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.