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Personal loans in Missouri

Personal loans for bad credit in Missouri

Personal loans are allowed in Missouri from state-licensed lenders (Consumer Installment Lender license under Mo. Rev. Stat. 408.510-408.512, issued by...). Here are the limits Missouri law sets, what a typical loan can cost, and where to get free help if you need it.

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Part of the Missouri guide

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What people use personal loans for

A personal loan is a lump sum repaid in fixed monthly payments. People use one for a larger cost they want to spread out, such as a car repair, a move, medical bills or several higher-rate debts rolled into one payment. The examples below show what larger and smaller amounts can cost within Missouri limits.

What personal loans can cost

These examples show how cost adds up. They are illustrative, not a quote. Your lender sets the actual rate and terms.

Representative example

Amount borrowed
$3,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$292.45
Finance charge
$509.40
Total of payments
$3,509.40

Example: a $3,000 installment loan at 29.99% APR repaid in 12 monthly payments of $292.45 costs $3,509.40 in total, including a finance charge of $509.40. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$1,000
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$97.48
Finance charge
$169.76
Total of payments
$1,169.76

Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

Representative example

Amount borrowed
$500
Annual percentage rate (APR)
29.99%
Repayment
12 monthly payments
Payment
$48.74
Finance charge
$84.88
Total of payments
$584.88

Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.

What Missouri law allows

Personal loans in Missouri
ProductStatusAPR capAmountTermLicenseLaw
Installment and personal loans[1][2][3] Allowed No numeric cap Not set by statute At least 4 months Consumer Installment Lender license under Mo. Rev. Stat. 408.510-408.512, issued by... Mo. Rev. Stat. 408.510, 408.512, cross-referencing 408.100, 408.140, and 408.170 for rate/fee ceilings; consumer protections at...
Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow.

Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.

The rules in full

Installment and personal loans

Rate cap
Consumer installment loans (at least four substantially equal installments over at least 120 days) carry interest and fees per 408.100, 408.140 and 408.170 (408.510). Section 408.100 permits interest "at rates agreed to by the parties," so there is no numeric APR ceiling.
License
Consumer Installment Lender license under Mo. Rev. Stat. 408.510-408.512, issued by the Missouri Division of Finance.

Full detail for every loan type: Missouri lending laws.

Money snapshot for Missouri

Missouri household data
MeasureValueYear
Fair market rent, 2 bedroom (monthly)[4]$1,154FY2026
Population[5]6,245,4662024
Unemployment rate[6]3.5%2026-08

Other options in Missouri

Worth checking whatever your credit: these can cost less than a high-rate loan.

  • Emergency loans in Missouri: allowed under Missouri law; see its limits and license rules.
  • Installment loans in Missouri: allowed under Missouri law; see its limits and license rules.
  • Payday loans in Missouri: allowed under Missouri law; see its limits and license rules.
  • Title loans in Missouri: allowed under Missouri 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 Missouri.

See every loan type Missouri law allows.

Personal loans in nearby states

Sources

  1. finance.mo.gov. Missouri Division of Finance. Retrieved September 23, 2026.
  2. Justia. Mo. Rev. Stat. 408.510, 408.512, cross-referencing 408.100, 408.140, and 408.170 for rate/fee ceilings. Retrieved September 23, 2026.
  3. Justia. law.justia.com/codes/missouri/title-xxvi/chapter-408/section-408-512. Retrieved September 23, 2026.
  4. National Low Income Housing Coalition. Out of Reach 2026: Missouri. Retrieved September 23, 2026.
  5. U.S. Census Bureau, Population Division. Vintage 2024 National and State Population Estimates. Retrieved September 23, 2026.
  6. U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.

Important disclosures

Illustrative range for installment loans in Missouri: APRs from 5.99% to 35.99%. This range is not a quote; each lender sets its own rates. Your APR depends on your credit, income, state and the lender.

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  • Questions about a lender licensed in Missouri? Contact the Missouri Division of Finance or file a state complaint.
  • You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.