North Dakota Payday Loans Law

North Dakota Payday Loans Law

North Dakota State Information

Legal Status: Legal

Loan Terms:

    - Maximum Loan Amount: $500
    - Loan Term: Max: 60 days
    - Maximum Finance Rate and Fees: 20% + databasing fee
    - Finance Charge for 14-day $100 loan: $20
    - APR for 14-day $100 loan: 520%

Debt Limits:

    - Maximum Number of Outstanding Loans at One Time: Not Specified ($600 aggregate loans outstanding to all licensees)
    - Rollovers Permitted: One (renewal fee not to exceed 20% of amount being renewed)
    - Cooling-off Period: 3 days
    - Repayment Plan:

Collection Limits:

    - Collection Fees: $20 NSF fee (if disclosed)
    - Criminal Action: Prohibited (Unless account was closed on date of original transaction)

Where to Complain, Get Information:

    - Regulator: North Dakota Department of Financial Institutions
    - Address: 2000 Schafer Street, Suite G Bismarck ND 58501
    - Phone: (701) 328-9933
    - Fax: (701) 328-0290

These North Dakota payday loans law are basic information to assist your decision to borrow money. This information may be added or modified or canceled by North Dakota government without prior notice.