New York at a glance
- Population: 8,258,035 (US Census Bureau, Vintage 2023 subcounty estimate), the 1st-largest of 595 places in New York.
- 2020 Census base: the 2020 Census recorded 8,804,199 residents here (US Census Bureau).
- 2020 to 2023 change: a loss of about 6.2% since the 2020 count (US Census Bureau).
- Rank among New York places: 1st in population of 595 places (US Census Bureau).
- Size percentile: roughly 99% of places in New York rank below it by population (US Census Bureau).
- Coordinates: mapped at 40.6627, -73.9387 by the US Census Bureau Gazetteer.
- Nearest larger cities: there is no larger Census place within 120 miles.
- Smaller places nearby: Hoboken, NJ (7 mi); Jersey City, NJ (7 mi); Union City, NJ (9 mi), per US Census Bureau estimates.
What a personal loan costs in New York
A personal loan is an installment loan: you receive a lump sum and repay it in fixed monthly payments over a set term, usually two to seven years.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
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.
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 York lending rules that apply in New York
The New York rate caps and licensing rules that reach New York are listed below, each with its source and retrieval date.
| 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 New York
Run through this list before signing anything in New York:
- 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.