Round Lake at a glance
- Population: a Census-estimated 18,430, placing it 133rd among Illinois's 1,294 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 18,726 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a decline of roughly 1.6% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Illinois places: 133rd in population of 1,294 places (US Census Bureau).
- Size percentile: ahead of around 90% of Illinois places in population terms (US Census Bureau).
- Coordinates: mapped at 42.3432, -88.1021 by the US Census Bureau Gazetteer.
- Nearest larger cities: Round Lake Beach, IL (3 mi); Grayslake, IL (4 mi); Mundelein, IL (7 mi); Libertyville, IL (8 mi); Gurnee, IL (9 mi); US Census Bureau population estimates.
- Nearest smaller towns: Round Lake Park, IL (1 mi); Hainesville, IL (2 mi); Round Lake Heights, IL (3 mi) (US Census Bureau).
What a personal loan costs in Round Lake
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
The term is the lever: extend it and the payment falls while total interest climbs; shorten it and the reverse happens.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Illinois lending rules that apply in Round Lake
The table lists the Illinois rules that apply to a loan made in Round Lake, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 9% annual percentage rate (general written-contract interest cap) Source says: "it shall be lawful for the parties to stipulate or agree that an annual percentage rate of 9%, or any less sum". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Payday lending status | Permitted under license; capped at 36% annual percentage rate (payday loans) Source says: "shall not contract for or receive a charge exceeding a 36% annual percentage rate ... for a payday loan". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Installment Loan Act license required from the Director of Financial Institutions (loans above 9% APR) Source says: "No person ... shall engage in the business of making loans of money ... except ... after first obtaining a license from the Director of Financial Institutions". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
| State lending regulator | Illinois Department of Financial and Professional Regulation (IDFPR), Division of Financial Institutions Source says: "DFI licenses, charters, and examines a wide variety of financial products and services including: Consumer and Sales Finance and Collection Agencies". | Illinois Department of Financial and Professional Regulation as of 2026-09-16 |
| Installment lender net-worth requirement | $30,000 minimum positive net worth (plus $25,000 surety bond) Source says: "every applicant shall prove ... that the applicant has and will maintain a positive net worth of a minimum of $30,000". | Illinois General Assembly (Illinois Compiled Statutes) as of 2026-09-16 |
How to compare offers in Round Lake
The order below is a sensible way to approach a loan in Round Lake:
- 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 Illinois using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.