Best Personal Loans in North Dakota for 2024

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Updated: July 10, 2024

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MoneyGeek's analysis has found that First Tech, with a score of 98 and PenFed, with a score of 96, are the top personal loan lenders in North Dakota. They stand out because of their customer service, flexible terms and competitive rates. If you're searching for a personal loan, know that lenders will look at your credit report, income, and how much debt you have compared to your income. This helps them decide if you're eligible for a loan.

According to 2023 Experian data, the average credit score in North Dakota is 733. This suggests that the average borrower can get a loan with favorable terms. When choosing the best lenders, MoneyGeek considered customer service, fees, annual percentage rate (APR) ranges and ease of application.

MoneyGeek Logo IconBest Personal Loan LendersNorth Dakota

Best Personal Loan Lenders in North Dakota

MoneyGeek's personal loans scoring system is designed to give a comprehensive overview of each lender’s performance in key areas that matter to borrowers. We use a point-based system, assigning scores according to the presence or absence of certain desirable features in various critical categories.

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Our analysis was completed in April 2024 and considers banks and lenders who are licensed to do business in North Dakota. We also consider financial companies that partner with federally insured institutions to offer competitive rates.

34Lenders Analyzed

    Overall Best Personal Loan Lender in North Dakota

  • First Tech

    • 98MoneyGeek Score
    • 8.94% to 18.00%APR Range
    • UndisclosedMinimum Credit Score
    • $500 to $50,000Loan Amount Range
    • 6 to 84 monthsRepayment Terms

    First Tech is MoneyGeek's top choice for personal loans in North Dakota with a MoneyGeek score of 98 out of 100. Offering APRs from 8.94% to 18.00%, its rates are competitive when compared to the broader market. Customers benefit from substantial flexibility, with repayment terms spanning 6 to 84 months. First Tech's top scores are in customer service and education, ensuring borrowers have access to ample resources and in interest rates and fees, reflecting their cost-effectiveness for consumers.


    • Insured by the National Credit Union Administration (NCUA)
    • Balanced, low APRs
    • Doesn't charge an application or loan origination fee


    • Need to be a member to apply
    • Could provide more detail on the loan application process
    • Little published information about credit score requirements
    First Tech

    Runner-Up for Best Personal Loan Lender in North Dakota

  • PenFed

    • 96MoneyGeek Score
    • 7.99% to 17.99%APR Range
    • UndisclosedMinimum Credit Score
    • Up to $50,000Loan Amount Range
    • Up to 60 monthsRepayment Terms

    PenFed Credit Union is MoneyGeek's runner-up for the best personal loan lender in North Dakota, with an impressive MoneyGeek score of 96 out of 100. Offering an APR range of 7.99% to 17.99%, PenFed stands out for having lower rates than many competitors. Its loan products enable borrowers to repay over durations extending up to 60 months, showcasing flexibility. PenFed excels in providing detailed upfront information to consumers and offering adaptable loan terms that meet a range of client needs.


    • Offers some of the lowest Annual Percentage Rates (APRs) available
    • No early repayment penalty
    • Insured by the National Credit Union Administration (NCUA)


    • $50 minimum monthly loan payment
    • Only available in 26 states
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The amount of monthly debt payments you have relative to your monthly gross income is called your debt-to-income ratio, or DTI.

Most lenders prefer to see a debt-to-income ratio of 35% to 40% or below for secured loans and 40% to 45% or below for unsecured personal loans. Debt includes items like mortgages, car loans, credit cards, and existing personal loans. A debt-to-income ratio above 50% is considered high, so approval may be more difficult, or your loan may come with higher interest rates. — Alvin Yam, CFP®

Calculate Your Monthly Loan Payment

Based on MoneyGeek's analysis, lenders in North Dakota offer personal loan products with an average repayment term of 58 months, which may change depending on the financial institution and the borrower's credit profile. Use our personal loan calculator to determine your monthly payments and overall loan costs. This tool can be particularly valuable in mapping out your financial commitments by taking into account your loan's principal, the term of the loan and the applicable interest rate.

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Updated: Jul 12, 2024

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Although MoneyGeek partners with some of the companies we recommend, our content is written and reviewed by an independent team of writers, editors and licensed agents. Learn more about our editorial policies and expert editorial team.

    Best Personal Loan Lender in North Dakota for Bad Credit

  • Happy Money

    • 94MoneyGeek Score
    • 11.72% to 17.99%APR Range
    • 640Minimum Credit Score
    • $5,000 to $40,000Loan Amount Range
    • 24 to 60 monthsRepayment Terms

    Happy Money is MoneyGeek's pick for the best personal loan provider for borrowers with low credit in North Dakota, boasting a MoneyGeek score of 94 out of 100. Although not a lender itself, Happy Money collaborates with various institutions to offer competitive rates, evidenced by its APR range of 11.72% to 17.99%, which stands as favorable when juxtaposed with its peers. With a minimum credit score requirement of 640, the company's transparency and robust customer service approach significantly contributed to its high recommendation, ensuring borrowers are well-informed and supported throughout the loan acquisition process.


    • Works with 10 federally insured lenders to originate installment loans
    • Has clear-cut eligibility requirements, notably a specific credit score threshold
    • Application process is cost-free, with no upfront fees


    • The lenders they work with charge an origination fee
    • Longer time to wait for loan approval compared to other lenders analyzed
    Happy Money

How does MoneyGeek score lenders for bad credit loans?

    Best Personal Loan Lender in North Dakota for Debt Consolidation

  • Alliant Credit Union

    • 96MoneyGeek Score
    • 10.99% to 13.99%APR Range
    • UndisclosedMinimum Credit Score
    • $1,000 to $100,000Loan Amount Range
    • 12 to 60 monthsRepayment Terms

    MoneyGeek's pick for the best entity for debt consolidation personal loans in North Dakota is Alliant Credit Union with a MoneyGeek score of 96 out of 100. Alliant Credit Union stands out for having lower APRs within the analyzed data, ranging from 10.99% to 13.99%. Alliant, as an online-only institution, requires that one be a member for a minimum of 90 days to qualify for a personal loan. The entity also excels in providing upfront information about their products and reasonable fees, as well as a favorable overall user experience in loan processing.


    • Among the highest loan limits available in our analysis
    • Insured by the National Credit Union Administration (NCUA)
    • Wide variety of loan types available


    • An online-only credit union, no physical branches
    • Have to be a member for 90 days to apply
    Alliant Credit Union

How does MoneyGeek score lenders for debt consolidation?

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Interest on personal loans is generally not tax deductible as personal loans are considered consumer debt. But there are some exceptions where the interest may qualify:

  • When consolidating high-interest qualifying debts like credit cards or student loans, if used to pay off those debts.
  • If used for home improvements that increase the home's value.
  • If the loan proceeds can be demonstrated as used exclusively for business expenses or starting a business.
  • In some cases, if the loan is used for investment purposes related to income-generating assets.

Alvin Yam, CFP®

Impact of Credit Score on Loan Repayment in North Dakota

When considering a personal loan in North Dakota, be aware of your credit score, income and debt-to-income ratio, as these will influence loan terms and approval. Lenders, evaluated for reputation, APR ranges, minimum credit scores and loan flexibility, can offer varying terms based on these criteria. A stronger credit score can significantly affect your loan conditions, potentially resulting in lower APRs, which is why improving your credit before applying may be worthwhile. For a clearer understanding of how your credit score can impact your monthly payments, refer to the accompanying table.

Data filtered by:Results filtered by:
Credit Band:
Credit Band:690 to 719
Loan Amount:
Loan Amount:$2,000
$348Term Length (Months)6
$180Term Length (Months)12
$97Term Length (Months)24
$69Term Length (Months)36
$55Term Length (Months)48
$47Term Length (Months)60
$42Term Length (Months)72
$38Term Length (Months)84

This table offers an approximation of monthly payments, calculated using median personal loan interest rates typical for various credit score ranges. Please remember that these numbers are median estimates, provided for general guidance. They should not be taken as precise rates for everyone in each credit score category. Actual interest rates can differ due to lender-specific policies, prevailing market conditions and unique borrower profiles.

Pros and Cons of Personal Loans in North Dakota

Personal loans offer benefits, such as potentially lower interest rates than credit cards and the flexibility to consolidate debts into manageable payments. They also allow for versatile use of funds and may help improve your credit score with consistent, on-time repayments.

However, it's important to be aware of the possible downsides, including origination fees and the risk of collateral loss in a secured personal loan. For better understanding, consider examining the pros and cons of personal loans carefully.

The good and bad of personal loans

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  • Lower interest rates for qualified borrowers
  • Consolidates high-interest debt into one payment
  • Fast approval and access to funds
  • Wide range of uses with few restrictions
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  • Increased overall loan cost resulting from origination fees
  • Risk of prepayment penalties if the loan is repaid early
  • Potential loss of assets with secured personal loans
  • Enticement to accrue excessive debt due to easy approval processes

FAQ About Personal Loans in North Dakota

If you have questions about personal loans, MoneyGeek has answers below to help you make an informed decision before applying.

Who is the best lender in North Dakota for personal loans?
Where is the best place to get a personal loan in North Dakota?
Who has the best personal loan interest rates in North Dakota?
What can I use a personal loan for in North Dakota?
What are some personal loan red flags to look out for?
Do lenders consider income level when applying for a personal loan?
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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity. Learn more about our editorial policies and expert editorial team.