Bay Harbor Islands at a glance
- Population: 5,679 (US Census Bureau, Vintage 2023 subcounty estimate), the 216th-largest of 411 places in Florida.
- 2020 Census base: 5,921 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: population fell about 4.1% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Florida places: 216th in population of 411 places (US Census Bureau).
- Size percentile: about 47% of Florida's Census places are smaller (US Census Bureau).
- Coordinates: 25.8880, -80.1336 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): North Miami, FL (2 mi); North Bay Village, FL (3 mi); Miami Shores, FL (3 mi); North Miami Beach, FL (4 mi); Sunny Isles Beach, FL (4 mi) (US Census Bureau).
- Nearest smaller towns: Indian Creek, FL (1 mi); Bal Harbour, FL (1 mi); Surfside, FL (1 mi) — US Census Bureau populations.
What a personal loan costs in Bay Harbor Islands
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed term.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest 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.
Florida lending rules that apply in Bay Harbor Islands
Each row below is a Florida rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer finance loan license required (chapter 516) Source says: "A person must not engage in the business of making consumer finance loans ... unless ... the person first obtains a license from the office". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| State lending regulator | Florida Office of Financial Regulation (OFR) Source says: "The Office of Financial Regulation is a state-government agency created by the Governor and Cabinet to provide regulatory oversight for Florida's financial services industry". | Florida Office of Financial Regulation as of 2026-09-16 |
| Deferred presentment fee cap | 10% of the amount provided (transactions not repayable in installments) Source says: "A deferred presentment provider or its affiliate may not charge fees that exceed 10 percent of the currency or payment instrument provided". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 18% per annum simple interest (loans/advances of $500,000 or less; loans above $500,000 are exempt from this cap) Source says: "it shall be usury and unlawful ... to ... charge ... a rate of interest greater than the equivalent of 18 percent per annum simple interest". | Florida Legislature (The Florida Senate, Online Sunshine) as of 2026-09-16 |
| Payday lending status | Permitted under license (deferred presentment providers; money services business license under chapter 560) Source says: "Businesses intending to engage in deferred presentment transactions must be licensed as a money services business under chapter 560, Florida Statutes". | Florida Office of Financial Regulation as of 2026-09-16 |
How to compare offers in Bay Harbor Islands
These steps are the ones that most affect the offer you receive in Bay Harbor Islands:
- 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 Florida using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.