Personal Installment Loans in North Dakota
Primo Personal Loans is a direct lender serving North Dakota residents, including Fargo, Bismarck, and Grand Forks. Apply online in minutes for a personal installment loan, get a decision the same business day, and repay on a fixed schedule you know before you sign.
North Dakota installment loans at a glance: Personal installment loans are legal in North Dakota and regulated by the Department of Financial Institutions under N.D. Cent. Code § 13-04.1-09.3. You can borrow an amount set by your lender and repay over a term of up to 3 years, with rates capped at 36% including all charges and fees. There is no prepayment penalty, so paying the loan off early reduces what you owe, and lenders must disclose the full APR and payment schedule before you sign. North Dakota also allows payday loans.
Rules current as of July 2026.
Personal Installment Loan Rules in North Dakota
Governing law: N.D. Cent. Code § 13-04.1-09.3
Rates & Terms for Personal Installment Loans in North Dakota
The maximum annual percentage rate (APR) for personal installment loans in North Dakota is capped at 36%, including all charges and fees. Loans must be repaid within a maximum term of 36 months. A license is required to offer these loans, as per N.D. Cent. Code § 13-04.1-09.3.
What a Personal Installment Loan Costs in North Dakota
| Loan Amount | Term | APR (est.) | Total Interest | Total to Repay |
|---|---|---|---|---|
| $1,000 | 24 months | 36% | $417 | $1,417 |
| $5,000 | 24 months | 36% | $2,086 | $7,086 |
| $10,000 | 24 months | 36% | $4,171 | $14,171 |
North Dakota law caps the APR for installment loans at 36%, including all charges and fees necessary for the extension of credit. The maximum term for installment loans may not exceed 36 months. The lender must provide a Truth-in-Lending disclosure showing the exact APR before signing.
What North Dakota Residents Should Know
North Dakota residents should be aware that personal installment loans have an APR cap of 36%, which includes all fees. Loan terms cannot exceed 36 months.
Consumer Protections in North Dakota
Consumers are protected by a prohibition on balloon payments and a cap on late fees at 5% of the payment, not exceeding $20. Refinancing fees and original loan fees are limited to $100 per calendar year. License verification is required for lenders.
Prohibited Practices
- Threats of criminal prosecution
- Wage garnishment
- Rollover
- Loan stacking
- Charging more than statutory fee cap
- False or misleading representations
- Unfair or deceptive practices
- Advance fees prohibited
Required Disclosures
- APR posting
- Fee schedule
- Contract in primary language
- License number
Debt Collection Rules
- NSF fee cap: $20
- Wage garnishment for this debt: not permitted
- Criminal prosecution for non-payment: not permitted
Complaint Agency: North Dakota Department of Financial Institutions
Prepayment & Refinancing Rules in North Dakota
Understanding your repayment flexibility is important when choosing a personal installment loan in North Dakota.
- No prepayment penalty — North Dakota law prohibits lenders from charging fees for early repayment of a personal installment loan.
- Refinancing rules: Outstanding balances of existing loans may be refinanced into a new small loan of less than $2,000
- Loan flipping restrictions: refinance fees and original loan fees may not exceed $100 per calendar year
Federal Consumer Protections for Installment and Payday Loan Borrowers
| Federal Law | What It Gives You | Citation |
|---|---|---|
| Truth in Lending Act / Regulation Z | Regulation Z protects consumers by requiring clear disclosure of key credit terms and costs. | 15 U.S.C. § 1601 et seq.; 12 CFR Part 1026 |
| Military Lending Act | The MLA caps the annual percentage rate at 36% for loans to active duty service members and their dependents. | 10 U.S.C. § 987 |
| Fair Debt Collection Practices Act / Regulation F | Regulation F governs the practices of debt collectors, prohibiting abusive, deceptive, and unfair practices. | 15 U.S.C. § 1692; 12 CFR Part 1006 |
| Fair Credit Reporting Act / Regulation V | Regulation V ensures accuracy and privacy of consumer credit information held by credit reporting agencies. | 15 U.S.C. § 1681; 12 CFR Part 1022 |
| Equal Credit Opportunity Act / Regulation B | Regulation B prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, or age. | 15 U.S.C. § 1691; 12 CFR Part 1002 |
| CFPB UDAAP authority | The CFPB can take action against unfair, deceptive, or abusive acts or practices in consumer financial products or services. | 12 U.S.C. § 5531, 5536 |
These federal protections apply in all 50 states regardless of state law. They set a baseline floor of consumer rights.
Full detail on each of these six federal protections, including what your lender must disclose before you sign and the 36% rate cap that applies to active-duty service members.
Federal Payday Lending Rules That Apply in North Dakota
Federal regulations, such as those from the CFPB and the Military Lending Act, apply in addition to state laws, providing an additional layer of consumer protection.
North Dakota Installment Loan Rules: FAQ
Yes. Personal installment loans are legal in North Dakota and regulated under N.D. Cent. Code § 13-04.1-09.3. Lenders must hold a state license to make these loans. A licensed lender has to follow the state's limits on rates, loan size and fees, and disclose your APR, finance charge and full payment schedule before you sign.
In North Dakota, the maximum rate on a personal installment loan is 36% including all charges and fees under N.D. Cent. Code § 13-04.1-09.3. That is a ceiling, not a quote: your actual APR depends on the loan amount, the term and the lender, and it must be disclosed in writing before you sign.
North Dakota allows personal installment loan terms of up to 3 years (1,095 days) under N.D. Cent. Code § 13-04.1-09.3. You repay in fixed scheduled installments rather than one lump sum, so a longer term lowers the monthly payment but increases the total interest you pay.
Yes, and without a penalty. North Dakota law does not allow a lender to charge a prepayment penalty on a personal installment loan under N.D. Cent. Code § 13-04.1-09.3. Paying ahead of schedule cuts the interest you owe, because interest accrues on the balance you still carry.
North Dakota caps loan fees separately from interest under N.D. Cent. Code § 13-04.1-09.3. Late fee: 5% of the payment; max $20. Returned-payment (NSF) fee: $20. Anything a lender charges beyond these has to be itemised in your agreement, so compare the total finance charge and not just the advertised rate.
North Dakota sets specific rules for refinancing a personal installment loan under N.D. Cent. Code § 13-04.1-09.3: Outstanding balances of existing loans may be refinanced into a new small loan of less than $2,000. It also restricts repeat refinancing, or loan flipping: refinance fees and original loan fees may not exceed $100 per calendar year. Refinancing restarts the interest on a new balance, so confirm the new total cost before agreeing to one.
Yes. Alongside installment lending, North Dakota permits payday loans under N.D. Cent. Code § 13-08-02; § 13-08-12. A payday loan there is capped at $500 and a term of up to 60 days. A payday loan is a single lump-sum repayment tied to your next pay date, which makes it a different and usually far more expensive product than an installment loan repaid over months.
