Saranac Lake at a glance
- Population: a Census-estimated 4,871, placing it 172nd among New York's 595 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 4,961 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: down about 1.8% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among New York places: 172nd by size among 595 communities (US Census Bureau).
- Size percentile: about 71% of places in New York are smaller (US Census Bureau).
- Coordinates: it sits at 44.3259, -74.1309 in the US Census Bureau Gazetteer.
- Nearest larger cities: Malone, NY (37 mi); Plattsburgh, NY (42 mi); Burlington, VT (45 mi); South Burlington, VT (47 mi); Winooski, VT (48 mi); US Census Bureau population estimates.
- Nearest smaller towns: Lake Placid, NY (8 mi); Tupper Lake, NY (18 mi); Dannemora, NY (34 mi) (US Census Bureau).
What a personal loan costs in Saranac Lake
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
New York lending rules that apply in Saranac Lake
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
How to compare offers in Saranac Lake
A few practical steps will make the process in Saranac Lake less costly:
- 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.