Winamac at a glance
- Population: roughly 2,287 people; 181st of 565 places in Indiana (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 2,320 residents in the 2020 Census, per the US Census Bureau.
- 2020 to 2023 change: about 1.4% below the 2020 Census base (US Census Bureau).
- Rank among Indiana places: 181st of 565 by population (US Census Bureau, Vintage 2023).
- Size percentile: roughly 68% of Indiana's places have fewer residents (US Census Bureau).
- Coordinates: it sits at 41.0535, -86.6037 in the US Census Bureau Gazetteer.
- Nearest larger cities: Knox, IN (16 mi); Rochester, IN (21 mi); Monticello, IN (23 mi); Logansport, IN (25 mi); Plymouth, IN (25 mi); US Census Bureau population estimates.
- Nearest smaller communities: Monterey, IN (10 mi); Kewanna, IN (10 mi); Royal Center, IN (14 mi), each a US Census place.
What a personal loan costs in Winamac
The defining feature of a personal loan is the fixed installment: the same payment every month until the term ends.
The advertised interest rate leaves out fees that the APR captures, which is why APR is the number to weigh; try the personal loan calculator before you apply.
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 payment that strains the budget is a warning sign; a smaller loan or a little more saving time is the safer route.
Indiana lending rules that apply in Winamac
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Winamac
These steps are the ones that most affect the offer you receive in Winamac:
- 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.