Payday loans in Mississippi
Payday loans are legal in Mississippi. A licensed lender may lend up to $500 and charge no more than Under $250: $20 per $100 advanced. Every figure on this page was checked against Mississippi law on November 10, 2026.
- Status
- Legal
- Maximum loan
- $500
Mississippi payday loan rules at a glance
- Legal status
- Legal
- Maximum loan
- $500
- Loan term
- (30 days (minimum 28 days if loan is between $250 and $500))
- Maximum fee
- Under $250: $20 per $100 advanced
- Loans at one time
- Max $500 in all checks.
- Rollovers
- None.
- Governing law
- Miss. Code Ann. §§ 75-67-519
Checked against Mississippi law on November 10, 2026.
The short version
- Payday loans are legal in Mississippi and lenders must hold a state license.
- The most you can borrow on one loan is $500.
- The legal maximum on a $100, 14-day loan is $20, which is 521% APR.
- Mississippi Department of Banking and Consumer Finance handles licensing questions and complaints.
On this page
Are payday loans legal in Mississippi?
Payday loans are legal in Mississippi. A licensed lender may lend up to $500 and charge no more than Under $250: $20 per $100 advanced.
The governing law is Miss. Code Ann. §§ 75-67-519. Mississippi Department of Banking and Consumer Finance licenses lenders and takes complaints.
Loan limits in Mississippi
- Loan size: up to $500
- Loan term: 30 days (minimum 28 days if loan is between $250 and $500)
- Loans at one time: Max $500 in all checks.
- Rollovers: None.
What a payday loan costs in Mississippi
State law sets the price rule: Under $250: $20 per $100 advanced.
On a $100 loan repaid after 14 days, the most a lender may charge is $20. You would repay $120, an APR of 521%. For comparison, most credit cards charge between 20% and 30% APR.
Before you deal with an online lender
- Look the company up with Mississippi Department of Banking and Consumer Finance. No license, no loan.
- Never pay a fee up front to get a loan. That is the mark of an advance-fee scam.
- Read the agreement for the finance charge, the APR and the due date before you give out bank details.
If you cannot repay a loan in Mississippi
Contact the lender before the due date and ask for a payment plan in writing. On criminal threats: Prohibited. If a lender or collector breaks the rules, file a complaint with Mississippi Department of Banking and Consumer Finance and with the CFPB. Our guide to what happens if you don’t pay covers each step.
Lower-cost options in Mississippi
- Credit union payday alternative loans (PALs): $200 to $2,000 at no more than 28% APR.
- A payment plan with the landlord, utility or hospital you owe often costs nothing.
- Local assistance: dial 211 for rent, utility and food programs near you.
See all payday loan alternatives or work out a loan’s price with the cost calculator.
Free help in Mississippi
- 211Free, confidential referrals to local help with rent, utilities and food. Call 211.
- USA.gov: help paying billsGovernment programs for rent, energy, phone and medical bills.
- National Foundation for Credit CounselingNonprofit credit counselors who can set up a debt management plan. Call 800-388-2227.
- CFPB complaint portalFile a federal complaint about a lender or a debt collector.
Common questions
Are payday loans legal in Mississippi?
Yes. Payday loans are legal in Mississippi under Miss. Code Ann. §§ 75-67-519, and lenders need a state license.
How much can I borrow with a payday loan in Mississippi?
Up to $500 on a single loan.
What does a payday loan cost in Mississippi?
At the legal maximum, a $100 loan for 14 days costs $20. That equals an APR of 521%. A lender may charge less, so compare before you sign.
Can I roll over a payday loan in Mississippi?
State rule on rollovers: None. A rollover adds a new fee without reducing what you owe.
Can I be arrested for not repaying a payday loan in Mississippi?
No. Prohibited. A lender can still sue you in civil court, so never ignore a court summons.
Where do I complain about a lender in Mississippi?
Contact Mississippi Department of Banking and Consumer Finance. You can also file a complaint with the Consumer Financial Protection Bureau.
Does Northlight lend money?
No. Northlight is an information site. We explain the rules and the costs; we do not make loans or credit decisions.
Sources
Keep reading
- MissouriPayday loans are legal in Missouri. A $100 two-week loan can cost up to $75 (1955% APR). See the loan limits, the rules lenders must follow and where to complai
- MinnesotaMinnesota caps small loans at 50% APR, so high-cost payday loans are not offered. See what is allowed, what it costs and the alternatives.
- MontanaMontana caps small loans at 36% APR, so high-cost payday loans are not offered. See what is allowed, what it costs and the alternatives.
- MichiganPayday loans are legal in Michigan. A $100 two-week loan can cost up to $15 (391% APR). See the loan limits, the rules lenders must follow and where to complain
- NebraskaNebraska caps small loans at 36% APR, so high-cost payday loans are not offered. See what is allowed, what it costs and the alternatives.
- MassachusettsPayday loans are not legal in Massachusetts. Learn what the law says, why online offers are risky and which lower-cost options you can use instead.