Bank of North Dakota's DEAL Loan Information

The new DEAL interest rates effective January 1 – March 31, 2014 are shown below. 

DEAL Fee and Interest Rate Comparison Table
Student/College Information	Loan Fee	Fixed Interest Rate	Fixed APR 1	Variable Interest Rate	Variable APR 1
ND student attending a ND college	0%	5.72%	5.72%	1.74%	1.74%
Out-of-state student attending a ND college	0%	5.72%	5.72%	1.74%	1.74%
ND student attending an out-of-state college	0%	5.72%	5.72%	1.74%	1.74%
Out-of-state student attending an out-of-state college	3.75%	6.72%	7.77% 2	2.74%	3.51% 3

¹ The APR is typically different than the actual interest rate because the APR considers fees and reflects the cost of your loan as a yearly rate. The APR’s listed above also assume the interest that accrues during the in-school and grace period is paid monthly prior to the loan entering repayment.

² The APR example provided assumes a loan balance of $10,000, the current interest rate of 6.72% and a repayment term of 120 payments.

³ The APR example provided assumes a loan balance of $10,000, the current interest rate of 2.74% and a repayment term of 120 payments.

While in repayment, a .25% interest rate reduction will be given for automatic payments from a checking or savings account.

Information received in an email from Tom Ternes, the New Loans Supervisor with the Bank of ND. If you have further questions regarding these loans you can contact him at: 

Phone # 701-328-5658

Toll Free: 1-800-472-2166

Fax # 1-701-328-5696

tsternes@nd.gov