Vernon at a glance
- Population: about 236, 488th by size in Indiana of 565 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 237 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 0.4% below the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 488th in population of 565 places (US Census Bureau).
- Size percentile: it is larger than about 14% of the places in Indiana (US Census Bureau).
- Coordinates: 38.9854 latitude, -85.6100 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: North Vernon, IN (2 mi); Dupont, IN (8 mi); Westport, IN (13 mi); Holton, IN (14 mi); Elizabethtown, IN (15 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Jonesville, IN (16 mi); Millhousen, IN (18 mi); Clifford, IN (25 mi) (US Census Bureau).
What a personal loan costs in Vernon
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
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.
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.
Shop with more than one lender and treat pre-qualification as an estimate, since the final terms follow a full application.
Indiana lending rules that apply in Vernon
Each row below is a Indiana rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Vernon
The order below is a sensible way to approach a loan in Vernon:
- 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.