Rensselaer at a glance
- Population: 5,684, the 113th-largest community in Indiana out of 565 (US Census Bureau, Vintage 2023).
- 2020 Census base: the 2020 Census recorded 5,730 residents here (US Census Bureau).
- 2020 to 2023 change: roughly 0.8% fewer residents than at the 2020 Census (US Census Bureau).
- Rank among Indiana places: 113th largest of 565 (US Census Bureau).
- Size percentile: it is larger than about 80% of the places in Indiana (US Census Bureau).
- Coordinates: 40.9505, -87.1533 (Census Gazetteer, US Census Bureau).
- Nearest larger cities: Lowell, IN (27 mi); Winfield, IN (32 mi); Cedar Lake, IN (33 mi); Crown Point, IN (33 mi); Valparaiso, IN (37 mi); US Census Bureau population estimates.
- Nearest smaller communities: Mount Ayr, IN (8 mi); Brook, IN (13 mi); Remington, IN (13 mi) (Census populations).
What a personal loan costs in Rensselaer
A personal loan gives you the full amount at once and spreads repayment over a set number of months at a fixed payment.
Compare offers on APR rather than the headline rate — the APR includes most fees, and you can model the total with our personal loan calculator.
A longer term reduces what you owe each month and increases the total interest, which is the trade-off to weigh before choosing one.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Indiana lending rules that apply in Rensselaer
The sourced rows below are the rules a licensed lender must follow when lending in Indiana, and therefore in Rensselaer.
| Rule | Detail | Source |
|---|---|---|
| Maximum legal interest rate (usury cap) | See the latest published figure value_text left null: Indiana Code IC 24-4.5-3-508 sets tiered maximum loan finance charges for supervised loans; the official code site renders client-side and the figure could not be confirmed from a fetched page, so no figure is asserted. | Indiana General Assembly (Indiana Code) as of 2026-09-16 |
| Payday lending status | Permitted under license (small loans); finance charges capped at 15% of the first $250 (tiered above) Source says: "Finance charges on the first $250 of a small loan are limited to 15% of the principal". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan / installment lender licensing | Small Loan License required (IUCCC; separate Consumer Loan License for IC 24-4.5-3 loans) Source says: "unless a person is a supervised financial organization or has first obtained a small loan license from the Department of Financial Institutions (DFI)". | Indiana Department of Financial Institutions as of 2026-09-16 |
| State lending regulator | Indiana Department of Financial Institutions (DFI), Consumer Credit Division Source says: "The industries regulated by the Consumer Credit Division are: non-depository small loan ("payday") lenders; traditional installment lenders". | Indiana Department of Financial Institutions as of 2026-09-16 |
| Small-loan size limit | $825 maximum aggregate small-loan principal per borrower Source says: "Lenders cannot have loans ... outstanding with you at any one time if the aggregate principal amount/amount financed exceeds $825". | Indiana Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Rensselaer
These steps are the ones that most affect the offer you receive in Rensselaer:
- 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 Indiana using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.