Payday Loans in North Dakota

Payday Loans in North Dakota

Fender benders, high water bills or even a flat tire that’s stopping you from getting to work are all prime candidates for a payday loan to fix. Payday loans were created with the intention of getting any borrower quick cash for urgent bills, enough to keep anyone afloat until the next payday. Maintain essential financial freedom and independence in between any pay period.


Payday loans in North Dakota are incredibly simple to understand. Like many states, North Dakota allows potential loanees the ability to apply for up to $500 at a time and gives them a period of 60 days to pay it back. Push through life’s unforeseen financial obstacles and make ends meet with payday loans in North Dakota!  

Basic Loan Packages in North Dakota

Payday loans

Payday loans are the quickest and easiest loan to acquire of the three types of loans covered. They are engineered to get anyone out of sticky financial situations, bills that nobody could have seen coming. 


Law status Legal
MIN Loan Amount N/A
MAX Loan Amount $500
MIN Loan Term N/A
MAX Loan Term 60 Days
MAX APR 487%
Additional fees No more than 20%
NSF fee May not exceed more than $40
Collateral or guarantor Not required
Number of simultaneous loans N/A
Cooling off period 3 Business days
Rollover One allowed
Extension, repayment plan One allowed
Default penalties N/A
Credit score requirements  Not required


Installment loans

Installment loans are a little different than payday loans. Where payday loans look to be a solution for fast cash injections, installment loans are meant to give out more money over longer periods of time.


Law status Legal
MIN Loan Amount $2,000
MAX Loan Amount $50,000
MIN Loan Term 6 Months
MAX Loan Term 36 Months
Collateral or guarantor Not required
Credit score requirements 580


Personal loans

Personal loans have a lot more in common with installment loans than they do payday loans. Personal loans in North Dakota give out large dollar amounts and an equally large period of time to repay the loan. 


Law status Legal
MIN Loan Amount $25,000
MAX Loan Amount $100,000
MIN Loan Term 6 Months
MAX Loan Term 36 Months
MIN APR 5.5%
Collateral or guarantor Sometimes required depending on credit requirements and desired loan amount
Credit score requirements 580

5 Things Every Borrower Must Know Before Their North Dakota Payday Loans:

  1. Legality

Payday loans in North Dakota are legal. So long as the borrower is at least 18 years of age, a resident of North Dakota with proper identification and an active checking account, they can apply!

  1. Alternatives

While payday loans are a great means of covering unexpected expenses, there are different options. First, some charities and nonprofits offer bill assistance in times of need. All you have to do is find a local nonprofit, bring them a bill and they may cover some or even all of it!  If you can’t ask for funds from family or use a credit card, payday loans are the tried and true method of covering bills in between checks.

  1. How it works

Payday lending in North Dakota is simple and straightforward. While stores are an option, most applicants prefer the comfort of their own homes! With the internet, anyone looking for a payday loan can type their own information into a payday loan calculator and find out both how much they qualify for and what the repayment process could look like. After the application has been successfully processed and approved the funds should be deposited automatically into the correct checking account.

  1. Requirements

As previously mentioned it is not a complicated or an excluding process to apply for a payday loan in North Dakota, but there are some requirements. Any hopeful applicant must be at least 18 years of age and a resident of the state of North Dakota. They must also have both a social security number and an active checking account to receive the deposit. Most importantly, any borrower will need proof of their income. Many lenders also ask for contact information such as an email address and a phone number.

  1. An example of a loan fee

North Dakota’s loan fees and simple to understand. According to N.D. Cent. Code 13-08-01 et seq, lenders may charge no more than 20% of the total amount of the loan. Simply put, this means that if a borrower were to receive a loan in the amount of $400, they could owe no more than $480.



Are payday loans legal in North Dakota? 

Yes, payday loans are legal in North Dakota. So long as you meet the requirements and have all documents needed, anyone can apply.

What will stop you from getting a payday loan?

There are not many things that can stop a customer from purchasing a payday loan. Some of the only things would be lacking proof of income, not being at least 18 years of age or already having a maximum of $500 in loans in North Dakota.