Oakdale at a glance
- Population: 28,226 (US Census Bureau, Vintage 2023 subcounty estimate), the 35th-largest of 853 places in Minnesota.
- 2020 Census base: 28,297 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population fell about 0.3% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 35th out of 853 Census places (US Census Bureau).
- Size percentile: roughly 96% of Minnesota's places have fewer residents (US Census Bureau).
- Coordinates: 44.9875, -92.9636 (US Census Bureau Gazetteer).
- Nearest larger cities (within 120 miles): Maplewood, MN (4 mi); Woodbury, MN (6 mi); St. Paul, MN (7 mi); Roseville, MN (9 mi); Inver Grove Heights, MN (12 mi) (US Census Bureau populations).
- Smaller places nearby: North St. Paul, MN (3 mi); Lake Elmo, MN (3 mi); Landfall, MN (3 mi), per US Census Bureau estimates.
What a personal loan costs in Oakdale
Most personal loans are unsecured, meaning no collateral is pledged, and they are repaid in equal installments over a fixed 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.
A lender weighs your credit profile, income and debts when setting the rate, and a longer term lowers the payment at the cost of more interest overall.
Set the loan amount from the expense itself rather than the maximum you are approved for, and keep the payment within your existing budget.
Minnesota lending rules that apply in Oakdale
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| Payday ability-to-repay requirement | Required for payday loans with an APR above 36% (Minn. Stat. § 47.603) Source says: "This section applies to all payday loans with an annual percentage rate that exceeds 36 percent." | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 6% per year legal rate of interest; a different rate may be contracted for in writing (Minn. Stat. § 334.01) Source says: "The interest for any legal indebtedness shall be at the rate of $6 upon $100 for a year" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| Payday lending status | Legal and licensed; APR capped at 36%, or up to 50% with an ability-to-repay analysis (Minn. Stat. §§ 47.60, 47.601, 47.603) Source says: "The cap on that annual percentage rate is set at either 36%, or up to 50% if the lender conducts an ability to repay analysis" | Minnesota Department of Commerce as of 2026-09-16 |
| Small-loan / installment lender licensing | Regulated loan license required from the commissioner for loans within the Chapter 56 threshold (Minn. Stat. § 56.01) Source says: "without first obtaining a license from the commissioner, no person shall engage in the business of making loans of money" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
| State lending regulator | Minnesota Department of Commerce (commissioner of commerce) Source says: ""Commissioner" means the commissioner of commerce" | Minnesota Legislature, Office of the Revisor of Statutes as of 2026-09-16 |
How to compare offers in Oakdale
The steps below are worth completing first when you borrow in Oakdale:
- 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 Minnesota using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.