Magnolia at a glance
- Population: 188 residents, the 681st-largest of 940 places in Iowa (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 187 residents here (US Census Bureau).
- 2020 to 2023 change: a gain of roughly 0.5% between the 2020 count and the 2023 estimate (US Census Bureau).
- Rank among Iowa places: 681st-largest of 940 (US Census Bureau, Vintage 2023 estimate).
- Size percentile: about 28% of places in Iowa are smaller (US Census Bureau).
- Coordinates: latitude 41.6927, longitude -95.8741 (US Census Bureau Gazetteer).
- Nearest larger cities: Logan, IA (5 mi); Mondamin, IA (8 mi); Modale, IA (9 mi); Woodbine, IA (9 mi); Missouri Valley, IA (9 mi) (Census populations, approximate straight-line distance).
- Nearest smaller towns: Little Sioux, IA (11 mi); Soldier, IA (21 mi); Turin, IA (23 mi) — US Census Bureau populations.
What a personal loan costs in Magnolia
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
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.
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.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Iowa lending rules that apply in Magnolia
Where a figure is not published by the state, the row points to the source instead of guessing.
| 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 Magnolia
A few practical steps will make the process in Magnolia 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.