What a loan can cost in Missouri
Examples at an illustrative rate, never above Missouri's cap for the amount. They are not quotes.
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.
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
- $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.
Resources in Missouri
Free and low-cost help in Missouri, each with its official link and the date we checked it.
Lending regulator and complaints
Missouri Division of Finance licenses lenders in Missouri.
Check a lender's license File a complaint
finance.mo.gov Checked September 23, 2026
Attorney general consumer protection
Takes complaints about scams and unfair debt collection.
ago.mo.gov Checked September 23, 2026
211
Help with rent, utilities, food and other urgent bills.
search.211helps.org Checked September 23, 2026
Legal aid
Free civil legal help if your income is low; income limits vary.
lsem.org Checked September 23, 2026
Nonprofit credit counseling
Help with a budget or a debt management plan.
nfcc.org Checked September 23, 2026
Benefits portal
Check whether you qualify for food, cash or other benefits in Missouri.
mydss.mo.gov Checked September 23, 2026
Federal complaints
Complaints about any lender, to the Consumer Financial Protection Bureau.
Submit a complaint to the CFPB
consumerfinance.gov Checked September 23, 2026 Available in Spanish
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). 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.
- 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.
- Credit-builder loans: a small loan held in savings while you pay it off, which can help build a payment history.
- Secured credit cards: a card backed by a deposit you make, which can help build credit when you pay on time.
The rules lenders follow in Missouri
Each rule links to its source. How we research state rules.
Allowed in Missouri: installment and personal loans, title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3] | AllowedNo rate limit in state law | No rate limit | Not set by statute | At least 4 months | Consumer Installment Lender license | Mo. Rev. Stat. 408.510, 408.512, cross-referencing 408.100, 408.140, and 408.170 for rate/fee ceilings; consumer protections at... |
| Title loans[4][5][6][7][8] | AllowedNo rate limit in state law | No rate limit | Up to $5,000 | At least 30 days | Title Loan license | Mo. Rev. Stat. Chapter 367, sections 367.500 to 367.533; licensing qualifications at 367.506 and 367.509; interest and fees at 367.515 |
| Payday loans[9][10][11] | AllowedHigh-cost loan | Fee cap | Up to $500 | 14 days to 31 days | Payday Lender license | Mo. Rev. Stat. 408.500-408.505 |
| 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.
Rate, fee and license rules in Missouri
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.
Title loans
- Rate cap
- Title lenders contract for simple interest and fees under 408.100 and 408.140 (367.515); 408.100 allows interest at rates agreed to by the parties, so there is no numeric APR cap. On the third and later renewals the borrower must reduce principal by 10%.
- License
- Title Loan license under Mo. Rev. Stat. 367.500-367.533, issued by the Missouri Division of Finance; applicant must maintain at least $75,000 in capital and post a $20,000 surety bond per location.
Payday loans
- Rate cap
- No flat APR cap.
- Fees
- Interest and fees capped at 75% of principal across the initial loan plus renewals; renewals limited to a maximum of six; NSF fee up to $25; late fee up to 5% of the amount due if delinquent more than 15 days; loan term limited to 14-31 days.
- License
- Payday Lender license under Mo. Rev. Stat. 408.500-408.505, issued by the Missouri Division of Finance.
Rent and jobs in Missouri
Typical rent and the jobless rate, to weigh before a loan payment.
Guides for Missouri borrowers
Check your options in Missouri
Missouri questions
Does Missouri law allow payday loans?
Missouri law allows payday loans. State law caps the fee rather than the APR. Source: Mo. Rev. Stat. 408.500-408.505.
What is the most a lender can charge in Missouri?
By loan type in Missouri: Installment and personal loans: No rate limit. Title loans: No rate limit. Payday loans: Fee cap.
Where can I file a complaint about a lender in Missouri?
You can file a complaint with Missouri Division of Finance, and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Missouri on this page.
How do I check a lender's license in Missouri?
Missouri Division of Finance licenses lenders in Missouri. Use the license link under Resources in Missouri on this page to check a lender before you share your information.
Is there free help paying bills in Missouri?
Yes. Resources in Missouri on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Nearby states
Sources
- finance.mo.gov. Missouri Division of Finance. Retrieved September 23, 2026.
- 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.
- Justia. law.justia.com/codes/missouri/title-xxvi/chapter-408/section-408-512. Retrieved September 23, 2026.
- Justia. law.justia.com/codes/missouri/title-xxiv/chapter-367/section-367-506. Retrieved September 23, 2026.
- Justia. law.justia.com/codes/missouri/title-xxiv/chapter-367/section-367-509. Retrieved September 23, 2026.
- revisor.mo.gov/main/OneSection.aspx. Retrieved September 23, 2026.
- Justia. Mo. Rev. Stat. Chapter 367, sections 367.500 to 367.533. Retrieved September 23, 2026.
- finance.mo.gov. Missouri Division of Finance. Retrieved September 23, 2026.
- columbiamissourian.com/news/state_news/missouri-lawmakers-pass-changes-to-payday-loans/article_c1b8ff11-9b85-5775-83ca-ccc249c7bd52.html. Retrieved September 23, 2026.
- finance.mo.gov. Missouri Division of Finance. Retrieved September 23, 2026.
- Justia. Mo. Rev. Stat. 408.500-408.505. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Missouri. 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 Missouri. 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 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.