Montvale at a glance
- Population: about 9,361 residents, ranking 120th of 323 Census places in New Jersey (US Census Bureau, Vintage 2023 subcounty estimate).
- 2020 Census base: 8,443 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: up about 10.9% from the 2020 Census base to the 2023 estimate (US Census Bureau).
- Rank among New Jersey places: 120th of the state's 323 Census places (US Census Bureau).
- Size percentile: ahead of around 63% of New Jersey places in population terms (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 41.0546, -74.0473.
- Nearest larger cities: Park Ridge, NJ (1 mi); Chestnut Ridge, NY (2 mi); Hillsdale, NJ (3 mi); Airmont, NY (4 mi); Spring Valley, NY (4 mi), each a US Census place with its estimated population.
- Nearest smaller towns: Woodcliff Lake, NJ (2 mi); Upper Saddle River, NJ (3 mi); Saddle River, NJ (3 mi) (US Census Bureau).
What a personal loan costs in Montvale
A personal loan is structured as an installment plan, with a set number of monthly payments and a fixed amount due each time.
The number to compare is the APR, not the interest rate, because the APR folds in origination fees and other charges; our personal loan calculator will show what a given amount and term would cost.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest 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.
New Jersey lending rules that apply in Montvale
The sourced rows below are the rules a licensed lender must follow when lending in New Jersey, and therefore in Montvale.
| Rule | Detail | Source |
|---|---|---|
| Small-loan / installment lender licensing | Consumer lender license required for loans of $50,000 or less for personal, family, or household purposes (N.J.S.A. 17:11C-1 et seq.) Source says: "A consumer lender license is required for the making of a loan that is to be used primarily for personal, family or household purposes" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| State lending regulator | New Jersey Department of Banking and Insurance (DOBI); Office of Consumer Finance supervises consumer lenders Source says: "The Office of Consumer Finance regulates 16 types of businesses that provide a variety of consumer financial services." | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Criminal usury limits | 30% for non-corporate borrowers; 50% for corporations Source says: "the criminal usury limitation is 50 percent for corporations and 30 percent for non-corporate borrowers" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Civil usury: rates above 6% (agreement not in writing) or above 16% (written contract specifying the rate) Source says: "the civil usury rate is any interest rate greater than 6 percent for an agreement that is not in writing" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
| Payday lending status | Unlicensed payday lending violates New Jersey's civil and criminal usury rates; payday lenders must be licensed Source says: "out-of-state or foreign entities that have not obtained the required New Jersey license and whose payment terms violate New Jersey's civil and criminal usury rates" | New Jersey Department of Banking and Insurance as of 2026-09-16 |
How to compare offers in Montvale
The steps below are worth completing first when you borrow in Montvale:
- 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 Jersey using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.