Osakis at a glance
- Population: about 1,752, 280th by size in Minnesota of 853 places (Census Vintage 2023 subcounty estimate).
- 2020 Census base: 1,766 people counted in the 2020 Census (US Census Bureau).
- 2020 to 2023 change: population fell about 0.8% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Minnesota places: 280th of the state's 853 Census places (US Census Bureau).
- Size percentile: ahead of around 67% of Minnesota places in population terms (US Census Bureau).
- Coordinates: mapped at 45.8654, -95.1531 by the US Census Bureau Gazetteer.
- Nearest larger cities: Alexandria, MN (11 mi); Sauk Centre, MN (13 mi); Long Prairie, MN (16 mi); Glenwood, MN (18 mi); Melrose, MN (21 mi) — straight-line distances, US Census Bureau populations.
- Nearest smaller towns: West Union, MN (5 mi); Nelson, MN (6 mi); Carlos, MN (10 mi) (US Census Bureau).
What a personal loan costs in Osakis
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Compare every quote on APR because it includes the fees the interest rate hides, and check the payment with our personal loan calculator.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
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.
Minnesota lending rules that apply in Osakis
The table carries the Minnesota rate and licensing rules that apply to consumer loans made in Osakis.
| 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 Osakis
A few practical steps will make the process in Osakis less costly:
- 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.