Midwest · Allowed
Payday loans in North Dakota
Storefront payday lending is permitted in North Dakota. State law caps what lenders can charge — the limits below are the legal ceiling, and honest lenders stay under it.
The limits below are the legal ceiling — any offer above them is being made outside the law.
The rules behind the numbers
A deferred presentment service transaction is a short-term loan and not intended for long-term financial needs.
In practice: borrow $300 for a standard term and the finance charge is $60 — $360 repaid at the end, about 521% APR. Every compliant lender in North Dakota has to fit inside that schedule.
Statute: N.D. Cent. Code § 13-08-01 et seq.
Regulator: North Dakota Department of Financial Institutions · www.nd.gov
Questions people ask here
How much can a payday loan cost in North Dakota?
State law caps fees at 20% of loan amount ($20 per $100). On a typical $300 loan that works out to about $60 in finance charges — repaying $360 in total. A lender charging more than the cap is operating illegally.
What happens if I can't repay on time in North Dakota?
This state's rules on rolling the loan over: forbidden. If you can't pay, ask the lender for an extended payment plan before you renew — and call the state regulator if the plan is refused.
Are online payday lenders legal in North Dakota?
Only lenders licensed in North Dakota may make loans to residents at these terms — the license, not the website, decides what's legal. Out-of-state lenders offering terms above the state cap are operating outside the law.
Who regulates payday lenders in North Dakota?
Complaints about a licensed lender go to the North Dakota Department of Financial Institutions (www.nd.gov) — keep the loan agreement and every fee disclosure you were given.
1 storefront lender locations listed statewide in the 2022-02-20 public directory snapshot — each city guide carries its local list.