Malverne at a glance
- Population: 8,417 (US Census Bureau, Vintage 2023 subcounty estimate), the 105th-largest of 595 places in New York.
- 2020 Census base: 8,564 residents at the 2020 Census (US Census Bureau, 2020 count).
- 2020 to 2023 change: about 1.7% below the 2020 Census base (US Census Bureau).
- Rank among New York places: 105th out of 595 Census places (US Census Bureau).
- Size percentile: ahead of around 82% of New York places in population terms (US Census Bureau).
- Coordinates: mapped at 40.6745, -73.6721 by the US Census Bureau Gazetteer.
- Nearest larger cities: Lynbrook, NY (1 mi); Valley Stream, NY (2 mi); Rockville Centre, NY (2 mi); East Rockaway, NY (2 mi); Hempstead, NY (3 mi), each a US Census place with its estimated population.
- Nearest smaller communities: Hewlett Harbor, NY (3 mi); Hewlett Bay Park, NY (3 mi); South Floral Park, NY (3 mi) (Census populations).
What a personal loan costs in Malverne
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
APR is the figure that lets you compare like with like, since it wraps fees into the rate; run your own numbers with the personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Pre-qualifying with several lenders takes minutes, uses a soft pull, and gives you real numbers to compare before any hard inquiry.
New York lending rules that apply in Malverne
The table carries the New York rate and licensing rules that apply to consumer loans made in Malverne.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Licensed Lender license required (Banking Law Article 9, sections 340-361); administered via NMLS Source says: "The Department of Financial Services uses the Nationwide Multistate Licensing System and Registry (NMLS) to manage the Licensed Lender License." | New York State Department of Financial Services as of 2026-09-16 |
| State lending regulator | New York State Department of Financial Services (DFS) Source says: "Notify the Department of Financial Services at (800) 342-3736 if you believe payday loans are being made in New York" | New York State Department of Financial Services as of 2026-09-16 |
| Criminal usury in the second degree (Penal Law 190.40) | Interest rate exceeding 25% per annum; class E felony Source says: "at a rate exceeding twenty-five per centum per annum or the equivalent rate for a longer or shorter period" | New York State Senate (Open Legislation) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 16% per annum maximum civil rate (Banking Law 14-a; General Obligations Law 5-501) Source says: "The maximum rate of interest provided for in section 5-501 of the general obligations law shall be sixteen per centum per annum." | New York State Senate (Open Legislation) as of 2026-09-16 |
| Payday lending status | Illegal in New York State, in person, by telephone, or over the Internet Source says: "Payday loans are illegal in New York State." | New York State Department of Financial Services as of 2026-09-16 |
How to compare offers in Malverne
The order below is a sensible way to approach a loan in Malverne:
- 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 New York using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.