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Minto Money review: An expensive tribal loan for emergencies

Minto Money loan review

Summary: Minto Money is a tribal lender that provides small loans for unexpected expenses. However, its rates, fees, and loan terms are not disclosed on its website, and Minto itself warns that its loans are expensive and may not be your best option.


  • Online enrollment and approval
  • Installment payment plan alternatives


  • Not clear about interest rates, fees, or loan terms
  • Currently ungoverned by state statutes
  • Inaccessible in all states. Also unavailable to active U.S. military personnel

What you need to know about a personal loan from Minto Money

Minto Money is a tribal lender that offers up to $3,000 in installment loans. These are short-term loans meant to assist those who need cash quickly yet need some time to repay. Minto was initially founded to help the Native Village of Minto, an Alaskan Native American Indian tribe with federal recognition.

Not transparent about costs and rates

You will not find much information on rates and fees on the Minto Money website. In the small print of its website, Minto states that “our costs are mentioned in your loan agreement” but provides no indication of their range of fees before you apply, with the exception of $20 late fines and $30 nonsufficient funds fees for returned payments.

In addition, Minto Money acknowledges in its terms and conditions that other financing choices, such as a home equity line of credit or credit card cash advance, may be superior and less expensive.

Online enrollment and approval

To apply for a loan from Minto Money, you may submit an online application. If authorized, you will be able to electronically sign the formal loan documentation (where you will finally see how much the loan will cost). Depending on your bank, you may anticipate the funds to be in your account within one business day.

Not regulated by state laws

Tribal lenders such as Minto Money are not necessarily regulated by state authorities, the Federal Trade Commission, or the Consumer Financial Protection Bureau; nonetheless, Minto Money promises to conform with rules governing short-term and internet lending.

Installment payment plan alternatives

In contrast to payday loans, which demand repayment by the borrower’s next salary, Minto Money loans are installment loans. That implies you may return the cash over time, although Minto does not disclose the duration of the loans or the number of needed payments. The website merely states that Minto Money will work with you to create a “manageable payment plan” that corresponds with your paydays.

A deeper look at a personal loan from Minto Money

Here are some more factors to consider if you’re interested in a personal loan from Minto Money.

Not accessible in every state – Minto Money does not lend to borrowers in every state, so if you’re interested, you’ll need to determine whether yours is among those that are not served.

  • Active military personnel are ineligible – At the bottom of the online application form is a section inquiring whether you are active military. Those who reply “yes” are informed that there are no loans available to them at this time.
  • Active military personnel are ineligible – At the bottom of the online application form is a section inquiring whether you are active military. Those who reply “yes” are informed that there are no loans available to them at this time.
  • Can terminate your loan — After being approved for a loan, if you discover it is not the best option for you, you may not be trapped with it. You may cancel your Minto Money transfer, but you must do so by 4 p.m. Central Time on the following business day after receiving the cash.
  • No prepayment penalties — If you want to prepay your loan, you may be able to do so without incurring a penalty. You must contact customer care so that your final payment may be processed.

Who may benefit from a Minto Money loan?

It might be hazardous to apply for a loan from Minto Money. You won’t know the charges of your loan (or how long you have to repay it) until you apply, get authorized, and receive a loan agreement since its rates and fees are unknown.

Prior to applying for a Minto Money loan to pay unexpected bills, you should examine alternative bad credit lenders that may be more clear about their fees or who may enable you to prequalify without a hard inquiry, which may temporarily lower your credit score.

Consider a loan alternative to payday advances from a federal credit union or a mobile app.

Applying with Minto Money

If you decide to borrow money from Minto Money, make sure you understand the interest rates, fees, and payback time before to signing. Minto admits that these are costly loans, and you should be aware of the terms before agreeing to them.

Even if you have bad credit, it may be feasible to qualify for a Minto Money loan since the lender will also analyze your income and banking history.

Included among the eligibility conditions for a loan from Minto Money are…

  • You must be at least 18 years old.
  • You cannot be in a bankruptcy proceeding.
  • You must provide your contact information, income, and bank account data.

If, after considering your alternatives, you believe Minto Money may be the best option for you, you may fill out the site’s brief application form. You will specify the amount you want to borrow, along with your name, email address, and state.

There is also a portion requiring you to disclose your income and other details. To finish the verification procedure, you will also need to talk with a customer care agent.

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Dom Lucre

Dom Lucre