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Personal loans in Banks, AR

A personal loan in Banks is repaid in equal monthly installments over a fixed term, with the rate set from your credit history, income and debts. The Census counts about 81 residents in Banks, ranking it 471st among the 500 places in Arkansas. Arkansas sets the rate caps and licensing rules a lender must follow here, and the sourced table below lists them.

By the Personalloaned Editorial Team · Last updated 2026-09-16

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Banks at a glance

  • Population: 81 residents, the 471st-largest of 500 places in Arkansas (US Census Bureau, Vintage 2023).
  • 2020 Census base: 84 residents in the 2020 Census, per the US Census Bureau.
  • 2020 to 2023 change: a decline of roughly 3.6% between the 2020 count and the 2023 estimate (US Census Bureau).
  • Rank among Arkansas places: 471st-largest of 500 (US Census Bureau, Vintage 2023 estimate).
  • Size percentile: about 6% of Arkansas's Census places are smaller (US Census Bureau).
  • Coordinates: it sits at 33.5758, -92.2671 in the US Census Bureau Gazetteer.
  • Nearest larger cities: Harrell, AR (9 mi); Hermitage, AR (10 mi); Warren, AR (12 mi); Hampton, AR (12 mi); Thornton, AR (19 mi); US Census Bureau population estimates.
  • Nearest smaller places: Tinsman, AR (6 mi); Whelen Springs, AR (52 mi); Cale, AR (56 mi) (US Census Bureau estimates).

What a personal loan costs in Banks

With an installment loan the payment is fixed for the life of the loan, so the schedule is predictable from the first month to the last.

Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.

Choosing a longer term eases the monthly budget but adds interest over the life of the loan; a shorter term costs more per month and less overall.

Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.

Arkansas lending rules that apply in Banks

Each row below is a Arkansas rule with its publisher and the date it was retrieved.

RuleDetailSource
Small-loan / installment lender licensingSee the latest published figure
value_text left null: the State Bank Department does not publish a consumer small-loan license rate schedule that could be verified; storefront payday lending has been eliminated (see Payday lending status). See the linked regulator page for the licensee categories it supervises.
Arkansas State Bank Department
as of 2026-09-16
State lending regulatorArkansas State Bank Department
Source says: "The Department is charged with regulating state-chartered commercial banks with main offices in Arkansas".
Arkansas State Bank Department
as of 2026-09-16
Maximum legal interest rate (usury cap)17% per annum for loans not made by or to governmental units or by federally insured depository institutions (Amendment 89, effective January 1, 2011)
Source says: "shall not exceed seventeen percent (17%) per annum".
Arkansas Legislature — Arkansas Constitution, Amendment 89, § 3 (proposed by H.J.R. 1004 of 2009)
as of 2026-09-16
Payday lending statusNot permitted — all storefront payday lending eliminated; the Attorney General has worked to eliminate all forms of payday lending since 2008
Source says: "the Attorney General's office has worked to eliminate all forms of payday lending in Arkansas"; "all storefront payday loan operations in Arkansas have been shut down".
Arkansas Attorney General — Consumer Protection Division
as of 2026-09-16

How to compare offers in Banks

Before you commit to a personal loan in Banks, work through these steps:

  1. Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
  2. Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
  3. Pre-qualify with at least three lenders and compare the APR, not the interest rate.
  4. Check that the lender is licensed in Arkansas using the regulator named above.
  5. Read the disclosure for origination fees and any prepayment penalty before you sign.

Common questions

Frequently asked questions

Can I get a personal loan with bad credit in Banks?
Yes, but expect a higher APR and possibly a smaller amount. Lenders that serve borrowers with lower scores are licensed statewide, so your options in Banks are the same as elsewhere in Arkansas.
How much can I borrow with a personal loan in Banks?
Loan amounts are set by each lender and depend on your income, credit and existing debts, so we do not quote a range we cannot source. The Consumer Financial Protection Bureau explains how lenders assess an application, and our personal loan calculator will model the payment for any amount before you apply.
Does a personal loan in Banks require collateral?
Unsecured personal loans do not require collateral. A secured loan, such as a home-equity or auto-secured loan, does — and it puts the pledged asset at risk if you default.
Will shopping for a loan in Banks hurt my credit?
Pre-qualification usually uses a soft credit pull that does not affect your score. A full application triggers a hard inquiry, which may lower your score by a few points temporarily.

Nearby places

Where these figures come from

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