Mississippi at a glance
- Personal loansAllowed See the rules
- Installment loansAllowed See the rules
- Emergency loansAllowed See the rules
- Payday loansAllowed See the rules
- Title loansAllowed 300% APR
Loan options in Mississippi
Every loan type we cover is listed, including the ones Mississippi law does not allow, so you can see why and what else can work.
- Personal loansAllowedA lump sum you repay in fixed monthly payments. See what your state allows and what a loan can cost.
- Installment loansAllowedFixed payments over months, not weeks. See your state's rate limits and a worked cost example.
- Emergency loansAllowedMoney for an urgent bill, usually a smaller installment loan. Check your state's limits before you borrow.
- Payday loansAllowedA short loan usually due in one payment on your next payday. Allowed in fewer states, so read the fee limits first.
- Title loansAllowedA loan secured by your car title. Allowed in fewer states, and your car is at risk if you cannot repay.
Other ways to borrow
- Credit union payday alternative loans: small loans from federal credit unions with an APR capped at 28% under NCUA rules. (12 CFR 701.21)
- 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.
- Payment plans: many utilities, hospitals and lenders offer hardship plans if you ask before you miss a payment.
What a loan can cost in Mississippi
Worked examples at an illustrative rate, never above Mississippi's rate cap for that loan amount where the law sets one. They are examples, 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 Mississippi
Free and low-cost places to turn in Mississippi, each linked to its official source and dated when we last checked it.
Lending regulator and complaints
Mississippi Department of Banking and Consumer Finance (DBCF) licenses lenders in Mississippi. Check a lender's license here, and file a complaint if something goes wrong.
Check a lender's license File a complaint
dbcf.ms.gov Checked September 23, 2026
211
Call 211 or visit your local 211 site to reach help with rent, utilities, food and other urgent bills.
211.org Checked September 23, 2026
Legal aid
Free civil legal help for people with low incomes, including debt collection, repossession and eviction problems. Income limits vary.
mscenterforlegalservices.org Checked September 23, 2026
Nonprofit credit counseling
Nonprofit counselors can help you build a budget or set up a debt management plan. Look for an NFCC or FCAA member agency.
nfcc.org Checked September 23, 2026
Benefits portal
The official site for checking whether you qualify for food, cash or other benefits in Mississippi, and for signing up.
mdhs.ms.gov Checked September 23, 2026
Federal complaints
Submit a complaint about any lender to the Consumer Financial Protection Bureau.
Submit a complaint to the CFPB
consumerfinance.gov Checked September 23, 2026 Available in Spanish
More Mississippi resources appear here as we check each source.
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.
- 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.
The rules lenders follow in Mississippi
These rules protect you as a borrower and explain the labels above. Each one links to the source we took it from. How we research state rules.
Allowed in Mississippi: installment and personal loans, title loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3][4] | Allowed | See rules below | Not set by statute | Not set by statute | Small Loan license under the Mississippi Small Loan Regulatory Law | Miss. Code 75-67-101 et seq.; Miss. Code 75-17-21 and 75-67-181; Miss. Code 75-67-601 et seq. |
| Title loans[5][6][4] | Allowed | 300% APR | Up to $2,500 | Not set by statute | Title Pledge license under the Mississippi Title Pledge Act, Miss. Code 75-67-401 et seq. | Miss. Code 75-67-401 to 75-67-449; licensing at 75-67-419; transaction form requirements at 75-67-405 |
| Payday loans[7][8][4] | 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. | ||||||
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 Mississippi
Installment and personal loans
- Rate cap
- Licensees may choose the 75-17-21 schedule or, under the Mississippi Consumer Alternative Installment Loan Act, a monthly finance charge not exceeding 59% APR (actuarial) on loans of $4,000 or less (75-67-181, eff. July 1, 2016).
- License
- Small Loan license under the Mississippi Small Loan Regulatory Law (Miss. Code 75-67-101 et seq.), issued by the Mississippi Department of Banking and Consumer Finance (DBCF); the Mississippi Credit Availability Act (75-67-601 et seq.) provides a separate installment-loan license.
Title loans
- Fees
- Up to 25% per month interest; additional management/administration fees permitted but must be disclosed.
- License
- Title Pledge license under the Mississippi Title Pledge Act, Miss. Code 75-67-401 et seq. (licensing requirement at 75-67-419), issued by DBCF; a surety bond is required.
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.
Money snapshot for Mississippi
Guides for Mississippi borrowers
Check your options in Mississippi
Mississippi questions
Does Mississippi law allow payday loans?
Mississippi law allows payday loans. Source: Miss. Code 75-67-501 et seq.; deferred/delayed deposits at 75-67-519.
What is the most a lender can charge in Mississippi?
By loan type in Mississippi: Installment and personal loans: See the rules. Title loans: 300% APR. Payday loans: See the rules.
Where can I file a complaint about a lender in Mississippi?
You can file a complaint with Mississippi Department of Banking and Consumer Finance (DBCF), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Mississippi on this page.
How do I check a lender's license in Mississippi?
Mississippi Department of Banking and Consumer Finance (DBCF) licenses lenders in Mississippi. Use the license link under Resources in Mississippi on this page to check a lender before you share your information.
Is there free help paying bills in Mississippi?
Yes. Resources in Mississippi on this page lists free help, including legal aid, nonprofit credit counseling and benefits portal.
Can I get a loan in Mississippi with a 500 credit score?
Lenders look at more than your score, such as income and existing debts, and each sets its own rules. BadCreditMD cannot tell you whether a lender will approve you.
Nearby states
Sources
- dbcf.ms.gov. Miss. Code 75-67-101 et seq.. Retrieved September 23, 2026.
- Justia. law.justia.com/codes/mississippi/title-75/chapter-17/general-provisions/section-75-17-21. Retrieved September 23, 2026.
- dbcf.ms.gov/wp-content/uploads/2021/02/CreditAvailability-Regulations-Effective-3-3-2021.pdf. Retrieved September 23, 2026.
- dbcf.ms.gov. Mississippi Department of Banking and Consumer Finance (DBCF). Retrieved September 23, 2026.
- dbcf.ms.gov/wp-content/uploads/2020/06/Mississippi-Title-Pledge-Act-PDF.pdf. Retrieved September 23, 2026.
- Justia. Miss. Code 75-67-401 to 75-67-449. Retrieved September 23, 2026.
- 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.
- 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
Illustrative range for installment loans in Mississippi: 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.
- BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
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- Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
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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.