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Personal loans in Melrose, OH

Two households in Melrose with comparable incomes can still be offered different rates; the city's 231 residents are not the reason. Begin with the payment, then weigh APR and total interest across the lenders that reach Melrose's 231 residents. Melrose is one of 924 Census places in Ohio; its 231 residents put it at 794th. Every figure below is Ohio's own, applied to Melrose's 231 residents, with the publisher and retrieval date attached. Population in Melrose dropped about 0.4% over the three years from 2020 to 2023. The nearest larger city is Oakwood, OH about 2 miles away.

By the Personalloaner Editorial Team · Last updated 2026-09-16

Compare loan offers Run the numbers first

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

The Melrose data picture

Two layers matter for a Melrose borrower: the local population picture and Ohio's consumer-lending statutes.

Melrose against the rest of Ohio

Against Ohio's other places, Melrose accounts for about 0.0% of the state's population and ranks 794th of 924 by size. For population change between 2020 and 2023, Melrose ranks 331st of 924 in Ohio (about the 64th percentile). By density, at about 270 people per square mile, it ranks 883rd in Ohio. Within 50 miles sit 29 smaller Census places, alongside the 128 that are larger.

The Ohio lending rules that reach Melrose

For the roughly 231 residents of Melrose, the rules below are Ohio's own; each row carries its publisher and retrieval date.

RuleDetailSource
State lending regulatorOhio Department of Commerce, Division of Financial Institutions (Consumer Finance Section).
Source says: "The Consumer Finance Section is responsible for regulating non-depository consumer lenders and related consumer finance businesses."		Ohio Department of Commerce - Division of Financial Institutions
as of 2026-09-16
Maximum legal interest rate (usury cap)8% per annum maximum by written agreement for the general case; higher rates permitted only in specified cases (e.g., principal over $100,000, business loans, certain mortgages).
Source says: "may stipulate therein for the payment of interest upon the amount thereof at any rate not exceeding eight per cent per annum payable annually" (Ohio Rev. Code 1343.01(A)). [codes.ohio.gov content retrieved via search-engine fetch of the official section; direct connections blocked from our network]		Ohio Laws (Ohio Revised Code - official state publication)
as of 2026-09-16
Payday lending statusLegal for licensed short-term lenders; interest capped at 28% per annum; total fees and charges capped at 60% of the originally contracted loan amount.
Source says: "(A) Interest not exceeding a rate of twenty-eight per cent per annum" (Ohio Rev. Code 1321.40); total fees/charges capped at "a total amount of fees and charges that exceeds sixty per cent of the originally contracted loan amount" (1321.403).		Ohio Laws (Ohio Revised Code - official state publication)
as of 2026-09-16

The anatomy of a Melrose personal loan

In Melrose, a small community of about 231, the amount is advanced up front and repaid in fixed installments; the city's size does not change the pricing. A lender serving Melrose's 231 residents must disclose the APR and finance charge in writing before you sign. A longer term lowers the monthly payment on a Melrose loan but raises total interest, so the smallest payment is not the cheapest loan.

The geography behind Melrose

The Census Gazetteer records about 0.9 square miles of land within Melrose, with no significant water area listed. With 231 residents, the land area yields roughly 270 people per square mile. Columbus, the largest place in Ohio, is about 107 miles from Melrose. Within 50 miles of Melrose there are 128 larger Census places. By land area it ranks 568th of 924 Ohio places.

Lender access in Melrose

Melrose is lightly settled, with about 270 people per square mile and 128 larger places within 50 miles. A Ohio licence lets a lender serve Melrose without a local office, so branch density does not change what its 231 residents are offered. The nearest bigger place is Oakwood, OH about 2 miles away.

Compare personal loan offers Run the numbers first

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

Common questions

What are my options in Melrose if my credit is poor?
Borrowing is still possible, but expect a higher APR and a smaller approved amount. Lenders that accept lower scores hold statewide licences, so what is open to you in Melrose is the same as anywhere in Ohio.
What loan size can I expect in Melrose?
Most personal loans sit somewhere between $1,000 and $50,000, though the figure you are approved for turns on the lender, your income and your credit. Model the monthly payment first with our personal loan calculator.
Do I have to pledge anything to borrow in Melrose?
For an unsecured personal loan, no — there is nothing to pledge. A secured loan, such as home equity or one secured by a vehicle, does require collateral, and default puts that asset at risk.
Does comparing loans in Melrose cost me credit score points?
Not during pre-qualification, which normally uses a soft pull and leaves your score alone. Submitting a full application triggers a hard inquiry, which can trim a few points briefly.

Nearby places

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