New Haven at a glance
- Population: 135,319 residents, the 3rd-largest of 29 places in Connecticut (US Census Bureau, Vintage 2023).
- 2020 Census base: 134,026 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: up roughly 1.0% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among Connecticut places: 3rd of the state's 29 Census places (US Census Bureau).
- Size percentile: roughly 90% of places in Connecticut rank below it by population (US Census Bureau).
- Coordinates: it sits at 41.3108, -72.9250 in the US Census Bureau Gazetteer.
- Nearest larger cities (120-mile radius): Bridgeport, CT (16 mi); Stamford, CT (36 mi); Yonkers, NY (55 mi); Springfield, MA (59 mi); New York, NY (69 mi) (US Census Bureau).
- Smaller places nearby: West Haven, CT (3 mi); Woodmont, CT (7 mi); Ansonia, CT (8 mi), per US Census Bureau estimates.
What a personal loan costs in New Haven
Personal loans are closed-end installment debt, so the monthly payment and the payoff date are known from the start.
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.
The offer you receive reflects the lender's read of your credit, income and debts, and the term controls the balance between payment size and total interest.
Work out the payment you can comfortably carry each month first, then borrow no more than that figure supports.
Connecticut lending rules that apply in New Haven
The Connecticut rate caps and licensing rules that reach New Haven are listed below, each with its source and retrieval date.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Connecticut Department of Banking Source says: "The Department of Banking considers payday loan companies as unlicensed small loan lenders". | Connecticut Department of Banking as of 2026-09-16 |
| Small-loan APR caps (§ 36a-558(d)) | Loans under $5,000: lesser of 36% APR or the Military Lending Act rate cap; loans $5,000–$50,000: 25% APR Source says: "an APR that exceeds the lesser of thirty-six per cent"; "an APR that exceeds twenty-five per cent". | Connecticut General Assembly — C.G.S. § 36a-558(d) (2026 Supplement) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum (consumer loans; statutory exceptions apply, e.g., banks, credit unions, small loan licensees) Source says: "charge, demand, accept or make any agreement to receive therefor interest at a rate greater than twelve per cent per annum". | Connecticut General Assembly — C.G.S. § 37-4 as of 2026-09-16 |
| Payday lending status | Not permitted — payday loans (small loans at more than 12% APR) are void and unenforceable unless made by exempt persons; licensed small loan companies may charge up to 36% APR Source says: "Connecticut Banking Law considers such loans as void and unenforceable"; "Small Loan licensees can charge up to 36% annual percentage rate (APR)". | Connecticut Department of Banking as of 2026-09-16 |
| Small-loan / installment lender licensing | Small loan license required for loans of $50,000 or less with an APR greater than 12% (Small Loan Lending and Related Activities Act, C.G.S. §§ 36a-555 to 36a-573) Source says: "Without having first obtained a small loan license from the commissioner pursuant to section 36a-565, no person shall". | Connecticut General Assembly — C.G.S. § 36a-556 (2026 Supplement) as of 2026-09-16 |
How to compare offers in New Haven
These steps are the ones that most affect the offer you receive in New Haven:
- 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 Connecticut using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.