All customers should be informed that payday advance in Minnesota State is an approved and legit activity. To see the details about legit payday loans in Minnesota, refer to the credit document Minn. Stat. 47.60 et seq. As mentioned earlier, the sum of a short-term loan can be up to $350. You should pay back borrowed funds within 30 days. The creditor will charge you a commission of $5.50: $0-$50; 10%+$5: $51-$100; 7% (min. $10) + $5: $101-$250; 6% (min. $17.50) + $5: $251-$350. After default, you will be charged 2.75% per month.