Grinnell at a glance
- Population: about 9,473, 44th by size in Iowa of 940 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 9,553 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: a loss of about 0.8% since the 2020 count (US Census Bureau).
- Rank among Iowa places: 44th by size among 940 communities (US Census Bureau).
- Size percentile: roughly 95% of Iowa's places have fewer residents (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 41.7352, -92.7249.
- Nearest larger cities: Newton, IA (16 mi); Marshalltown, IA (23 mi); Pella, IA (25 mi); Oskaloosa, IA (31 mi); Altoona, IA (39 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: Oakland Acres, IA (5 mi); Malcom, IA (9 mi); Kellogg, IA (9 mi) (US Census Bureau).
What a personal loan costs in Grinnell
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
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.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Iowa lending rules that apply in Grinnell
Each row below is a Iowa rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Grinnell
Run through this list before signing anything in Grinnell:
- 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.