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Personal loans in North Dakota

Personal loans for bad credit in North Dakota

Personal loans are allowed in North Dakota from state-licensed lenders (Money Broker license). Here are the limits North Dakota law sets, what a typical loan can cost, and where to get free help if you need it.

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Part of the North Dakota guide

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What people use personal loans for

A personal loan is a lump sum repaid in fixed monthly payments, often for a larger cost such as a car repair, a move or medical bills; the examples below stay within North Dakota limits.

What personal loans can cost

These examples show how cost adds up. They are illustrative, not a quote. Your lender sets the actual rate and terms.

Representative example

Amount borrowed
$3,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$292.45
Finance charge
$509.40
Total of payments
$3,509.40

Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$97.48
Finance charge
$169.76
Total of payments
$1,169.76

Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$500
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$48.74
Finance charge
$84.88
Total of payments
$584.88

Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

What North Dakota law allows

Personal loans in North Dakota
ProductStatusAPR capAmountTermLicenseLaw
Installment and personal loans[1][2][3][4] Allowed 36% APR Not set by statute Not set by statute Money Broker license N.D. Cent. Code Chapter 13-04.1; 13-04.1-09.3
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

The rules in full

Installment and personal loans

Rate cap
Under N.D. Cent. Code 13-04.1-09.3(1), a licensed money broker may not contract for or receive finance charges in excess of an annual rate of 36%, including all charges and fees necessary for the extension of credit incurred at origination.
Fees
Late or nonpayment charges may not exceed 5% of the payment, and for loans of $50,000 or less may not exceed $20 per late payment (13-04.1-09.3(2)). For small loans under $2,000: equal installments, maximum term 36 months, no balloon payment, and refinance fees capped at $100 per calendar year (13-04.1-09.3(4)).
License
Money Broker license under N.D. Cent. Code Chapter 13-04.1, issued by the North Dakota Department of Financial Institutions (DFI).

Full detail for every loan type: North Dakota lending laws.

Rent and jobs in North Dakota

Typical rent and the jobless rate, to weigh before a loan payment.

Rent and unemployment in North Dakota
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[5]$1,088FY2026
Unemployment rate[6]2.2%2026-08

Other options in North Dakota

Cheaper options to try first

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
  • Nonprofit credit counseling through the National Foundation for Credit Counseling.
  • A payment plan from the company you owe, if you ask before you miss a payment.
  • 211 for help with rent, utilities and food: call 211 or visit 211.org.

More cheaper options in North Dakota.

Other loan types allowed in North Dakota

See every loan type North Dakota law allows.

Personal loans in nearby states

Sources

  1. ndlegis.gov/assembly/67-2021/testimony/HIBL-2103-20210317-9662-F-KREBS_COREY.pdf. Retrieved September 23, 2026.
  2. ndlegis.gov. N.D. Cent. Code Chapter 13-04.1. Retrieved September 23, 2026.
  3. nd.gov/dfi/about-dfi/non-depository/frequently-asked-questions-non-depository. Retrieved September 23, 2026.
  4. nd.gov. North Dakota Department of Financial Institutions (DFI). Retrieved September 23, 2026.
  5. National Low Income Housing Coalition. Out of Reach 2026: North Dakota. Retrieved September 23, 2026.
  6. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

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Important disclosures

APRs vary by lender and state in North Dakota. Each lender sets its own rates and terms and must show you the APR before you sign.

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  • Questions about a lender licensed in North Dakota? Contact the North Dakota Department of Financial Institutions (DFI) or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.