Ocheyedan at a glance
- Population: a Census-estimated 421, placing it 478th among Iowa's 940 places (Vintage 2023 subcounty estimate).
- 2020 Census base: 437 people at the 2020 Census, the baseline for the trend below (US Census Bureau).
- 2020 to 2023 change: about 3.7% below the 2020 Census base (US Census Bureau).
- Rank among Iowa places: the 478th-largest of 940 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 49% of Iowa's places have fewer residents (US Census Bureau).
- Coordinates: the Census Gazetteer places it at 43.4182, -95.5367.
- Nearest larger cities (120-mile radius): Sibley, IA (10 mi); Lake Park, IA (11 mi); Ashton, IA (15 mi); Worthington, MN (15 mi); Hartley, IA (17 mi) (US Census Bureau).
- Nearest smaller towns: Harris, IA (5 mi); Round Lake, MN (9 mi); Bigelow, MN (10 mi) (US Census Bureau).
What a personal loan costs in Ocheyedan
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
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.
Your credit, income and existing debts drive the rate a lender offers, while the term you pick sets how much interest builds on top.
Most lenders offer pre-qualification with a soft credit pull, so you can see an estimated rate and amount without affecting your credit score.
Iowa lending rules that apply in Ocheyedan
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | 2 percentage points above the monthly average 10-year U.S. Treasury constant maturity rate (written agreements) Source says: "The maximum lawful rate of interest ... in any written agreement ... shall be two percentage points above the monthly average ten-year constant maturity interest rate". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (delayed deposit services; must be physically located in Iowa) Source says: "A person shall not operate a delayed deposit services business in this state unless the person is physically located in this state and licensed by the superintendent". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated Loan Act license required (superintendent of banking) Source says: "shall not engage in the business of making loans ... without first obtaining a license from the superintendent of banking". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
| State lending regulator | Iowa Division of Banking (IDOB), Iowa Department of Insurance and Financial Services Source says: "As part of the 2023 state government realignment, the IDOB became part of a new Department of Insurance and Financial Services". | Iowa Division of Banking as of 2026-09-16 |
| Delayed deposit fee cap | Fee cap: $15 on first $100 of check face amount; $10 on subsequent $100 increments Source says: "fifteen dollars on the first one hundred dollars ... or more than ten dollars on subsequent one hundred dollar increments". | Iowa Legislature (Iowa Code) as of 2026-09-16 |
How to compare offers in Ocheyedan
Here is a short checklist for comparing personal loans in Ocheyedan:
- 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 Iowa using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.