Loans in Mississippi: Payday & Installment Options

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Yes, you can get a loan in Mississippi. Licensed lenders make payday loans of up to $410 in cash and installment loans whose caps depend on the license: from 36% a year on a small loan to 59% APR on loans up to $5,330.

Check Your Options

Payday loan	Up to $410 in cash on a $500 check, for up to 30 days
Installment	36% a year on the first $1,000, or 59% APR on loans up to $5,330
Example	$2,000 over 12 months at 59% APR: about $224.59 a month
You need	ID, a bank account and income proof such as a recent pay stub
Regulator	Department of Banking and Consumer Finance, 1-800-844-2499

Compare the Costs Five Loan Licenses

What $410 to $2,000 Costs at Mississippi's Caps

The most a Mississippi-licensed lender can charge, by loan type:

Loan	You repay	Cost
$410 payday, 28 days	$500 once	$90 (~286% APR)
$1,000 small loan, 12 mo	12 × $100.46	$206 + $48 fee
$2,000 at 59%, 12 mo	12 × $224.59	$695 (59% APR)
$1,000 at 25%/mo, 12 mo	12 × $271.13	$2,254 (~304% APR)

Worked out from Mississippi law, not offers from lenders in our network; a lender can charge less. The small loan adds the closing fee (4% of the payments, at least $25). The credit availability loan at 25% a month includes its $10 origination fee.

Per dollar borrowed, the credit availability loan costs the most: about $2,254 in fees on $1,000 over a year, more than twice the loan. For the payday details, see Mississippi payday loan rules.

Five Licenses, Five Price Caps in Mississippi

Loan	Amount	Price cap
Payday	Up to $410 cash	$21.95 per $100
Credit availability	Up to $3,320	25% of balance a month
Alternative installment	Up to $5,330	59% APR
Small loan	Rate tiers by size	36%, falling to 14%
Title pledge	Secured by a title	25% a month

Small loans step down by size: 36% a year on the first $1,000, 33% to $2,500, 24% to $5,000 and 14% above. Lenders need a physical office in Mississippi.
Credit availability loans of $500 or less are repaid in equal payments over 4 to 6 months; larger ones over 6 to 12 months. You can cancel within one business day.
Title pledges run in 30-day periods. Each extension must cut the principal by at least 10% of the original amount.
Since July 1, 2026, the credit availability limit is $3,320 and the 59% loan limit is $5,330, both now adjusted each year for inflation.

Banks and credit unions aren't covered by the Small Loan Regulatory Law and lend under their own rules.

The 22.5% Income Test Behind 59% Loans

A lender charging the 59% rate, under the Consumer Alternative Installment Loan Act, can't make the loan if a month's payment would top 22.5% of your gross monthly income, shown by a pay stub, benefits receipt or tax return. The $2,000 example needs about $998 a month in income.

Nine payments at least. Each loan is repaid in at least 9 equal monthly payments over no less than 272 days.
Autopay is your choice. A lender can't require automatic debits or a post-dated check to approve you.
Early payoff earns a refund. Unearned interest comes back to you, figured at least as favorably as the actuarial method.

Applying With Your Pay Stub, ID and Bank Details

Pick the loan: $410 or less for a month points to payday; more, or monthly payments, points to an installment loan.
Submit one request through LendUp. Lenders in our network review it, and any offer shows the APR, payments and total cost before you sign.
Before signing, check that the lender's Mississippi license matches the loan type, as shown below.

Check Your Options

Checking a DBCF License or NMLS Record

Official lookup tool NMLS Consumer Access

Search by the company's legal name or NMLS number; DBCF points borrowers to this lookup for consumer finance licenses.
Look for the Mississippi license that fits: Check Casher, Small Loan, Credit Availability or Title Pledge.
Or open DBCF's licensee lists and match the name and address to your offer.

Questions: DBCF at 1-800-844-2499. Complaints go through DBCF's online complaint form; the Attorney General's Consumer Protection Division also takes complaints.

Common Questions

Where can I get a loan with bad credit in Mississippi?

You can apply with lenders licensed by DBCF: payday lenders, credit availability lenders and installment lenders. Each sets its own standards and approval isn't guaranteed, but a Mississippi-licensed lender can't charge more than its license allows.

Can I get a $3,000 loan in Mississippi with no credit?

You can apply. At the 59% cap, $3,000 over 18 months is about $254.97 a month if your income passes the 22.5% test. As a credit availability loan at 25% a month, $3,000 over 12 months runs about $813.40 a month.

Are payday loans legal in Mississippi?

Yes. Licensed check cashers make them as delayed deposit transactions: a check of up to $500, fee included, held for up to 30 days.

What is the interest rate cap on installment loans in Mississippi?

Small loan licensees can charge 36% a year on the first $1,000, 33% up to $2,500, 24% up to $5,000 and 14% above, plus a closing fee. On loans up to $5,330, they can instead charge up to 59% APR.

Are title loans legal in Mississippi?

Yes, from licensed title pledge lenders, at up to 25% of the principal a month. Each 30-day extension must reduce the principal by at least 10% of the original amount.

Where do I complain about a Mississippi lender?

Try the lender first, then file DBCF's online complaint form or call 1-800-844-2499. You can also contact the Attorney General's Consumer Protection Division.

Official Sources

General information, not legal advice. Facts on this page were checked against these sources on October 28, 2026.

LendUp isn't a lender. We pass your request to lenders in our network; offers aren't guaranteed, and we may earn compensation if a loan is funded.

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Loans in Mississippi: Payday and Installment Options