Drummond at a glance
- Population: about 296, 93rd by size in Montana of 127 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 272 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 8.8% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Montana places: 93rd out of 127 Census places (US Census Bureau).
- Size percentile: larger than about 27% of the Census places in Montana (US Census Bureau).
- Coordinates: 46.6666 latitude, -113.1470 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Philipsburg, MT (24 mi); Deer Lodge, MT (27 mi); Anaconda-Deer Lodge, MT (40 mi); Missoula, MT (44 mi); Stevensville, MT (46 mi); US Census Bureau population estimates.
- Smaller places nearby: Virginia City, MT (111 mi); Neihart, MT (116 mi), per US Census Bureau estimates.
What a personal loan costs in Drummond
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
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.
Montana lending rules that apply in Drummond
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Montana Division of Banking and Financial Institutions (BFID), Department of Administration Source says: "The Montana Division of Banking and Financial Institutions (Division) does all of its licensing through the Nationwide Multistate Licensing System (NMLS)." | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
| Deferred deposit loan license requirement (MCA 31-1-705) | A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department Source says: "A person may not engage in or offer to engage in the business of making deferred deposit loans unless licensed by the department." | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Greater of 15% or prime rate + 6 percentage points per year (written agreement); regulated lenders exempt Source says: "Parties may agree in writing to the payment of any rate of interest that does not exceed the greater of 15%" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Payday lending status | Legal; deferred deposit lenders must be licensed; fee capped at 36% per annum Source says: "A licensee may not charge a fee for making or carrying each deferred deposit loan authorized by this part that exceeds 36% per annum" | Montana Legislative Services Division (Montana Code Annotated) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer loan license required under the Montana Consumer Loan Act (32-5-101); licensing through NMLS Source says: "A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act" | Montana Department of Administration, Division of Banking and Financial Institutions as of 2026-09-16 |
How to compare offers in Drummond
A few practical steps will make the process in Drummond less costly:
- 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 Montana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.