Minto at a glance
- Population: 609 — 83rd in North Dakota, which has 355 Census places (US Census Bureau, Vintage 2023).
- 2020 Census base: 620 people (US Census Bureau, 2020 Census count).
- 2020 to 2023 change: down roughly 1.8% across the 2020-to-2023 comparison (US Census Bureau).
- Rank among North Dakota places: the 83rd-largest of 355 (US Census Bureau, 2023 estimate).
- Size percentile: larger than about 77% of the Census places in North Dakota (US Census Bureau).
- Coordinates: mapped at 48.2924, -97.3730 by the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Grafton, ND (9 mi); Park River, ND (18 mi); Drayton, ND (21 mi); Warren, MN (29 mi); Grand Forks, ND (29 mi) (US Census Bureau).
- Nearest smaller communities: Ardoch, ND (6 mi); Forest River, ND (7 mi); Oslo, MN (13 mi), each a US Census place.
What a personal loan costs in Minto
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
APR, not the simple interest rate, reflects what the loan actually costs once fees are included; the personal loan calculator puts a figure on it.
Stretching the term lowers the monthly payment but raises the total interest you pay, so the smallest payment is not automatically the cheapest loan.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
North Dakota lending rules that apply in Minto
Every figure in the table below is sourced to a publisher with a date; where a state does not publish a number, we say so rather than estimate.
| Rule | Detail | Source |
|---|---|---|
| Usury penalties (state-specific rule) | Usury forfeits all interest plus 25% of principal; charging usurious interest is a class B misdemeanor. Source says: "shall be deemed a forfeiture of the entire interest" and "a forfeiture of twenty-five percent of the principal" (N.D.C.C. 47-14-10); usury is a class B misdemeanor (47-14-11). | North Dakota Legislative Branch as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | Formula ceiling: 6-month U.S. Treasury bill average + 5.5 percentage points, never less than 7%; NDDFI-published rate for September 2026: 9.204%. Source says: "The rate is equal to five and one-half percent (5.5%) higher than the current cost of money" and "the maximum allowable interest rate ceiling may not be less than seven (7) percent" (NDDFI Usury Rate page; September 2026 rate 9.204%). | North Dakota Department of Financial Institutions as of 2026-09-16 |
| Payday lending status | Legal for licensed deferred presentment service providers; fee capped at 20% of amount advanced; max $500 per transaction; $600 aggregate outstanding per customer. Source says: "A licensee may charge a fee for the deferred presentment service, not to exceed twenty percent of the amount paid to the customer" (N.D.C.C. 13-08-12); "may not disburse more than five hundred dollars to the customer in a deferred presentment service transaction" (13-08-12.3). | North Dakota Legislative Branch as of 2026-09-16 |
| Small-loan / installment lender licensing | Money broker license required to engage in money brokering (arranging/providing loans); issued by the commissioner of financial institutions. Source says: "may not engage in money brokering in the state of North Dakota without a money broker license issued by the commissioner" (N.D.C.C. 13-04.1-02). | North Dakota Legislative Branch as of 2026-09-16 |
| State lending regulator | North Dakota Department of Financial Institutions (NDDFI) Source says: "The Department also licenses and regulates Money Brokers... Deferred Presentment Service Providers (Payday Lenders), Collection Agencies, Debt Settlement Service Providers, and Money Transmitters." | North Dakota Department of Financial Institutions as of 2026-09-16 |
How to compare offers in Minto
Before you commit to a personal loan in Minto, work through these steps:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in North Dakota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.