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Payday Loans in Mississippi

Compare licensed lenders • Check MS regulations • Apply online

Last updated: June 2026

Max Loan
$500
Cities Covered
0
Legal Status
Legal
Population
2,961,279

Mississippi Payday Loan Regulations

Max Loan Amount:$500
Max Term:30 days
Typical APR:572%
Cooling-Off:None
Rollover Allowed:Yes

Payday loans in Mississippi are regulated by DBCF. Maximum $500 with typical APR 572%.

Important: This information is current as of February 2026. State regulations may change. Always verify with your lender and state regulator before signing a loan agreement.

About Payday Loans in Mississippi

Payday loans in Mississippi are regulated by DBCF. Maximum $500 with typical APR 572%.

Mississippi is located in the South region of the United States with a population of 2,961,279.

Key Regulations:

  • Maximum APR: 572%
  • Maximum loan amount: $500
  • Maximum term: 30 days
  • Rollovers allowed
  • Regulated by Mississippi Department of Banking and Consumer Finance

Regulatory Authority: Mississippi Department of Banking and Consumer Finance
Official Website: https://dbcf.ms.gov/

Representative Example APR in Mississippi

Payday and small-dollar loan costs vary by lender, amount, and state rules. The example below shows how fees can translate into APR on a short-term loan.

Loan amount Term Fee per $100 Total repayment Equivalent APR
$500 14 days $15 $575 391%

Example only. Actual APR and total repayment in Mississippi depend on lender pricing, term length, and state compliance limits.

Cities in Mississippi

Browse all 0 city pages in Mississippi

Frequently Asked Questions – Mississippi

Are payday loans legal in Mississippi?
Yes, payday loans are legal in Mississippi. The state is regulated by the Mississippi Department of Banking and Consumer Finance, which oversees all payday lenders. Payday loans in Mississippi are regulated by DBCF. Maximum $500 with typical APR 572%.
What is the maximum payday loan amount in MS?
The maximum payday loan amount in Mississippi is $500. Finance charges are capped at Varies by lender. Always verify with your lender before applying.
How long do I have to repay a payday loan in Mississippi?
In Mississippi, payday loans typically have a maximum term of 30 days. Some lenders offer installment loans with longer repayment periods. Check specific lender terms.
Can I have multiple payday loans at once in MS?
Payday loans in Mississippi are regulated by DBCF. Maximum $500 with typical APR 572%.
How do I find licensed payday lenders in Mississippi?
All payday lenders in Mississippi must be licensed by the Mississippi Department of Banking and Consumer Finance. You can verify a lender's license at https://dbcf.ms.gov/. Only work with licensed lenders to protect yourself.
What documents do I need for a payday loan in MS?
Most Mississippi payday lenders require: (1) Valid ID (driver's license or state ID), (2) Proof of income (pay stubs or bank statements), (3) Active checking account, (4) Social Security number, (5) Proof of residence.
What is the typical APR for payday loans in Mississippi?
In Mississippi, the maximum APR is 572%. Actual APR varies by lender and loan amount. Always review the loan agreement for total cost before signing.
Are there alternatives to payday loans in MS?
Yes. Consider: (1) Credit union loans (often lower rates), (2) Payment plans with creditors, (3) Local assistance programs, (4) Employer cash advances, (5) Friends or family loans. Explore all options before committing to a payday loan.

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Important Legal Notice

This information is current as of January 2026 and is for informational purposes only. Payday loan regulations in Mississippi may change. Always verify current regulations with the Mississippi Department of Banking and Consumer Finance before applying. Credizen is a comparison platform and we do not directly provide loans.

We may earn commission from lenders when you submit a loan request. This does not affect which lenders you are matched with.

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