What Mississippi law allows
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Payday loans[1][2][3] | AllowedHigh-cost loan | See rules below | Up to $500 | Up to 30 days | Check Casher / deferred deposit license | 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).
- 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
Rent and jobs in Mississippi
Typical rent and the jobless rate, to weigh before a loan payment.
Other options in Mississippi
Cheaper options to try first
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Credit union payday alternative loans (PALs), capped at 28% APR under NCUA rules (12 CFR 701.21).
- Nonprofit credit counseling through the National Foundation for Credit Counseling.
- A payment plan from the company you owe, if you ask before you miss a payment.
- 211 for help with rent, utilities and food: call 211 or visit 211.org.
More cheaper options in Mississippi.
Other loan types allowed 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. 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.