Babylon at a glance
- Population: 12,106 people, the 71st-largest place among New York's 595 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 12,191 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: a decline of roughly 0.7% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among New York places: 71st out of 595 Census places (US Census Bureau).
- Size percentile: larger than about 88% of the Census places in New York (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 40.6937, -73.3260.
- Nearest larger cities: Lindenhurst, NY (2 mi); Massapequa Park, NY (7 mi); Freeport, NY (14 mi); Westbury, NY (15 mi); Hempstead, NY (15 mi), each a US Census place with its estimated population.
- Nearest smaller places: Brightwaters, NY (4 mi); Amityville, NY (5 mi); Farmingdale, NY (7 mi) (US Census Bureau estimates).
What a personal loan costs in Babylon
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
Because the APR includes origination and finance charges, it is the honest comparison number; the personal loan calculator turns an APR and term into a monthly payment.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
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 Babylon
The sourced rows below are the rules a licensed lender must follow when lending in New York, and therefore in Babylon.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Babylon
The steps below are worth completing first when you borrow in Babylon:
- 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.