Rates and rules
North Dakota Loan Rates and Rules
Who regulates consumer lending in North Dakota, how rates are set, and how to check a lender and its rate before you borrow. For new requests SET Financial is not the lender: it connects North Dakota residents with third-party lenders who set all rates and terms.
Get StartedThis page is general information, not a rate quote. Not everyone who applies will be matched or approved.
Who regulates consumer lending in North Dakota
North Dakota regulates consumer lending and loan brokering primarily through the Money Brokers Act (North Dakota Century Code Chapter 13-04.1), administered by the North Dakota Department of Financial Institutions. Under 2023 legislation (SB 2103), finance charges on installment loans made by licensed money brokers are limited to a 36 percent annual rate, and late or nonpayment fees are capped for larger loans. Rates and terms depend on the individual lender, the loan, and your qualifications. SET Financial does not set rates or terms and does not lend in North Dakota. Every lender is responsible for its own licensing and compliance.
Regulator: North Dakota Department of Financial Institutions.
How to check a lender before you borrow
Before you sign, confirm the lender is licensed to operate in North Dakota through the North Dakota Department of Financial Institutions, and review the APR, total finance charge, payment schedule, and all fees on your loan agreement.
Many consumer lenders are also listed on NMLS Consumer Access, a national database you can search for free to confirm a company's license status and history.
The four numbers to compare on any offer
A regulator's rules tell you about the lender. These tell you about the loan. Whoever you borrow from, and whether or not you use this site, compare offers on the same four things:
- APR. The annualized cost including most fees. It is the only number that lets you compare two different loans honestly.
- Total repayment amount. Principal plus every finance charge over the full term. A lower monthly payment stretched longer often costs more overall.
- Term and payment schedule. How many payments, how often, and the exact due dates measured against when you actually get paid.
- Fees and prepayment terms. Origination, late, and returned-payment fees, and whether paying the loan off early saves you interest.
Your loan agreement is the number that governs
Federal Truth in Lending rules require the lender to disclose the APR, finance charge, amount financed, and total of payments on the loan agreement before you sign. Any rate you see in marketing, including on this site, is general information. The figures on your own signed agreement are what actually apply to your loan.
Common questions about North Dakota rates
Who regulates consumer installment lenders in North Dakota?
The North Dakota Department of Financial Institutions oversees consumer lending and loan brokering, largely under the Money Brokers Act (North Dakota Century Code Chapter 13-04.1). You can verify a lender's license through that agency.
What interest rates can North Dakota lenders charge?
Under North Dakota's 2023 SB 2103, finance charges on installment loans made by licensed money brokers are capped at a 36 percent annual rate. Your actual APR depends on the lender, the loan, and your qualifications. SET Financial does not set rates.
This page is general information about North Dakota lending rules, not legal or financial advice, and it is not a rate quote. Rules change; confirm anything that matters to your situation with the North Dakota Department of Financial Institutions or a qualified advisor. SET Financial is not the lender on new requests and does not set the rates, fees, terms, or approval decisions of the third-party lenders in its network.
Keep reading
- Personal loans in North Dakota covers how requests are matched and who the network works with.
- All states we serve.