Updated October 28, 2020

Payday loans in Minnesota

Minnesota Payday Loan Law
StatusLegal
CitationMinn. Stat. 47.60 et seq.
Maximum APR 390%
Minimum Loan Term Max: 30 days
Maximum Loan Amount $350
Finance Charge $15
Rate and Fees $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350 (After default: 2.75% per month)
Rollovers Permitted None (cannot repay with proceeds of another loan by same lender)
Criminal Action:

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MN regulator

Minnesota Department of Commerce

 

Phone:  

Website: http://www.commerce.state.mn.us/

HolidayCashOnline

MAX loan amount: $5000

Terms: By agreement

Rates and fees: 4.99% to 450%

Turnaround Time: 24 hours


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