Payday loans in Minnesota

Legality of payday advance in Minnesota

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.

How many payday loans can you have in Minnesota?

Laws regarding payday loans in Minnesota state allow residents to take the funds from online platforms and offline lenders. Consult the service to find out how many payday loans you can receive simultaneously. Restrictions may be applied since the credits are for a short period and minor amounts.

Direct payday loan lenders in Minnesota

How can you apply for online payday loans in Minnesota?

The online application procedure is straightforward and simple. The system won’t require a pile of documents. Applicants should meet the following terms to get an online payday advance in Minnesota:

should be over 18 years old;

be a US citizen;

provide a permanent address, phone number, and email;

have the regular income proof or required level of earnings;

have a bank account to which borrower will receive money;

have a valid ID or driver’s license.