Minnesota Payday Loans
Payday Loans in Minnesota
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Minnesota Payday Loan Laws and Minnesota Loan Regulations
Minnesota Maximum APR = $ 391.07
Minnesota Maxmium Fee Per $100 Borrowed = $ 15.00
i) On any amount up to and including $50, a charge of $5.50 may be added; ii. on amounts in excess of $50, but not more than $100, a charge may be added equal to ten percent of the loan proceeds plus a $5 administrative fee; on amounts in excess of $100, but not more than $250, a charge may be added equal to seven percent of the loan proceeds with a minimum of $10 plus a $5 administrative fee; (iv) for amounts in excess of $250 and not greater than $350, a charge may be added equal to six percent of the loan proceeds with a minimum of $17.50 plus a $5 administrative fee. After maturity, the contract rate must not exceed 2.75 percent per month of the remaining loan proceeds after the maturity date calculated at a rate of 1/30 of the monthly rate in the contract for each calendar day the balance is outstanding. (Minnesota Small Loans - Chapter 47.60)









