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What Mississippi law allows
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Payday loans[1][2][3] | Allowed | See rules below | Up to $500 | Up to 30 days | Check Casher / deferred deposit license under the Mississippi Check Cashers Act,... | Miss. Code 75-67-501 et seq.; deferred/delayed deposits at 75-67-519 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
The rules in full
Payday loans
- Rate cap
- Payday loans ('deferred and delayed deposits') are regulated as part of the Mississippi Check Cashers Act, Miss. Code 75-67-501 et seq. (deferred deposit provisions at 75-67-519). No flat APR figure was confirmed from primary text; secondary reporting notes the fee structure historically permitted effective triple-digit APRs, citing a loophole in the 2012 Check Cashing Act amendments.
- Fees
- Fee may not exceed $20.00 per $100 advanced on a check with face amount up to $250, or $21.95 per $100 on a check over $250 up to $500 (75-67-519).
- License
- Check Casher / deferred deposit license under the Mississippi Check Cashers Act, issued by DBCF.
Full detail for every loan type: Mississippi lending laws.
Help in Mississippi
Money snapshot for Mississippi
Other options in Mississippi
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Emergency loans in Mississippi: allowed under Mississippi law; see its limits and license rules.
- Installment loans in Mississippi: allowed under Mississippi law; see its limits and license rules.
- Personal loans in Mississippi: allowed under Mississippi law; see its limits and license rules.
- Title loans in Mississippi: allowed under Mississippi law; see its limits and license rules.
- Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
- Nonprofit credit counseling. A counselor accredited by the National Foundation for Credit Counseling can help you build a budget or a debt management plan.
- Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
- Local assistance. Call 211, or visit 211.org, for emergency help with rent, utilities and food in Mississippi.
Payday loans in nearby states
Sources
- mississippitoday.org/2018/10/15/as-payday-loans-thrive-in-mississippi-neighboring-states-move-to-cap-high-interest-rates. Retrieved September 23, 2026.
- dbcf.ms.gov. Miss. Code 75-67-501 et seq.. Retrieved September 23, 2026.
- dbcf.ms.gov. Mississippi Department of Banking and Consumer Finance (DBCF). Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Mississippi. Retrieved September 23, 2026.
- U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
- U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.
Important disclosures
APRs vary by lender and state in Mississippi. Each lender sets its own rates and terms and must show you the APR before you sign.
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- Questions about a lender licensed in Mississippi? Contact the Mississippi Department of Banking and Consumer Finance (DBCF) or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.