Chester at a glance
- Population: the Census estimates 133 residents, ranking 766th of 940 places in Iowa (Vintage 2023).
- 2020 Census base: 136 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: roughly 2.2% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Iowa places: 766th out of 940 Census places (US Census Bureau).
- Size percentile: about 19% of places in Iowa are smaller (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 43.4916, -92.3640.
- Nearest larger cities: Lime Springs, IA (5 mi); Le Roy, MN (7 mi); Ostrander, MN (9 mi); Riceville, IA (13 mi); Spring Valley, MN (14 mi); each population is a US Census Bureau estimate.
- Nearest smaller places: McIntire, IA (12 mi); Taopi, MN (15 mi); Elkton, MN (21 mi) (US Census Bureau estimates).
What a personal loan costs in Chester
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
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.
Iowa lending rules that apply in Chester
The table lists the Iowa rules that apply to a loan made in Chester, each with the regulator that published it.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Chester
The order below is a sensible way to approach a loan in Chester:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.