Montpelier at a glance
- Population: 3,886 residents, the 286th-largest of 924 places in Ohio (US Census Bureau, Vintage 2023).
- 2020 Census base: 3,941 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.4% lower than the 2020 Census base (US Census Bureau).
- Rank among Ohio places: the 286th-largest of 924 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 69% of places in Ohio rank below it by population (US Census Bureau).
- Coordinates: latitude 41.5842, longitude -84.5916 (US Census Bureau Gazetteer).
- Nearest larger cities (120-mile radius): Bryan, OH (8 mi); Archbold, OH (16 mi); Angola, IN (22 mi); Wauseon, OH (23 mi); Hillsdale, MI (24 mi) (US Census Bureau).
- Smaller places close by: Holiday City, OH (4 mi); Pioneer, OH (7 mi); Blakeslee, OH (8 mi) (US Census Bureau).
What a personal loan costs in Montpelier
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
Two loans can share an interest rate and still differ in APR once fees are counted, so compare APR; our personal loan calculator shows the difference over the full term.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Before you borrow, decide what the loan is for and whether the monthly payment fits a budget you can already meet without taking on new debt.
Ohio lending rules that apply in Montpelier
Each row below is a Ohio rule with its publisher and the date it was retrieved.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 8% per annum maximum by written agreement for the general case; higher rates permitted only in specified cases (e.g., principal over $100,000, business loans, certain mortgages). Source says: "may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually" (Ohio Rev. Code 1343.01(A)). [codes.ohio.gov content retrieved via search-engine fetch of the official section; direct connections blocked from our network] | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
| Payday lending status | Legal for licensed short-term lenders; interest capped at 28% per annum; total fees and charges capped at 60% of the originally contracted loan amount. Source says: "(A) Interest not exceeding a rate of twenty-eight per cent per annum" (Ohio Rev. Code 1321.40); total fees/charges capped at "a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount" (1321.403). | Ohio Laws (Ohio Revised Code - official state publication) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer finance licenses required for non-depository lenders, including Consumer Installment Loan Act lenders, General Loan Law lenders, short-term lenders, and small loan lenders. Source says: "We issue and manage licenses for companies and individuals under multiple Ohio statutes." (page's regulated-statutes list names Consumer Installment Loan Act lenders, General Loan Law lenders, Short-term lenders, Small loan lenders). | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
| State lending regulator | Ohio Department of Commerce, Division of Financial Institutions (Consumer Finance Section). Source says: "The Consumer Finance Section is responsible for regulating non-depository consumer lenders and related consumer finance businesses." | Ohio Department of Commerce - Division of Financial Institutions as of 2026-09-16 |
How to compare offers in Montpelier
The steps below are worth completing first when you borrow in Montpelier:
- 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 Ohio using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.