Installment Loans in Missouri
Page last reviewed: October 28, 2026 · Reviewed for accuracy by Betty Walsh
Loan rules: Any amount, secured or unsecured, repaid in at least four substantially equal installments over at least 120 days (RSMo 408.510).
Interest: Any rate you and the lender agree to, charged on the unpaid principal. Missouri sets no cap.
Fees: An origination fee of up to 10% of the principal, no more than $100, plus limited late and returned-payment fees.
Regulator: Missouri Division of Finance, (573) 751-3242.
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How to Get an Installment Loan in Missouri
- Choose the amount and term: consumer installment loans run at least 120 days, with at least four roughly equal payments.
- Submit one request through LendUp with your ID, income details and bank account. Lenders in our network review it, and you see the full cost before you sign. Any origination fee, up to 10% of the loan and no more than $100, has to be in that cost.
- Check the lender in the Division of Finance Bank & Licensee Search under Consumer Installment (510) or Small Loan Companies (367).
What a Missouri Installment Loan Costs
Two kinds of licensed lenders make installment loans in Missouri: consumer installment lenders, which can lend any amount over 120 days or more, and small loan companies, which make consumer credit loans of $500 or more. Both charge interest and fees under the same rules.
| Charge | Missouri limit |
|---|---|
| Interest | Any rate agreed to, on the unpaid principal; it can't be deducted up front or compounded |
| Origination fee | 10% of the principal, no more than $100, on loans of 30 days or longer; not on a renewal or refinance unless the lender makes a new credit investigation |
| Late fee | Only after 15 days: 5% of the installment or $15, whichever is greater, up to $50 ($5 on installments of $25 or less) |
| Returned payment | A service fee of up to $25, plus your bank's actual charge |
| Credit report | The actual cost of the report, allowed since August 28, 2024 |
| Card payments | A flat convenience fee for paying by card online or by phone, if you're told about it first |
| Collection | Attorney fees of up to 15% of the amount due, only if your contract allows it and an outside lawyer has to sue |
| Anything else | Not allowed, apart from filing fees, certain insurance and GAP products, and repossession costs |
Missouri has no rate cap, so 36% is only a benchmark: it's the federal limit for active-duty servicemembers, and offers to other borrowers can be much higher. Compare the APR, which includes the origination fee, and the total of payments on your disclosure.
Paying Early
Missouri installment loans can be simple-interest or precomputed, the Division of Finance says. On a simple-interest loan, interest builds on the unpaid principal, so extra payments cut what you pay. If you pay off a precomputed loan in full a month or more before the last payment is due, the lender must either recompute the interest on the balances you actually owed or, on contracts of $5,000 or less and 61 months or less, refund at least the amount the Rule of 78s formula gives. Larger contracts are refunded by the actuarial method. No refund is due on a partial prepayment.
Verify an Installment Lender in Missouri
- Open the Division of Finance Bank & Licensee Search and enter part of the lender's name; add a city or ZIP code to narrow the list.
- Under Type, choose Consumer Installment (510). If the lender isn't there, try Small Loan Companies (367).
- Match the license number, name and address to the lender named on your loan offer.
Making consumer credit loans without a Missouri license is a misdemeanor. To complain, use the Division of Finance's online form, or send a paper form by email, mail or fax; the process generally takes about 30 days. Questions: (573) 751-3242 or [email protected].
Your Rights in Missouri
- Notice before the lender acts. Once a payment is 10 days late, the lender can send a notice of your right to cure. It can't demand the full balance or repossess collateral until 20 days after that notice.
- Catching up restores the loan. Pay the amount past due, plus any late or deferral charges, within that time and the loan continues as if you hadn't missed it. This covers the first two defaults on a loan.
- Surrendered collateral. If you hand over collateral voluntarily, the lender must tell you that you may still owe money after it's sold.
- You can sue. If a lender breaks Missouri's consumer loan rules and you lose money, you can sue for actual damages, and a court may add punitive damages and attorney's fees.
- Military borrowers. Federal law caps most loans to active-duty servicemembers and covered family members at a 36% Military Annual Percentage Rate, and bars prepayment penalties.
Missouri Installment Loan Questions
Is there an interest rate cap on installment loans in Missouri?
No. Missouri lets licensed lenders charge any rate you agree to, on the unpaid principal. The law limits fees instead, such as an origination fee of up to 10% of the loan, no more than $100.
What fees can a Missouri installment lender charge?
An origination fee of up to 10% or $100, a late fee after 15 days of 5% of the payment or $15 (whichever is greater, up to $50), a returned-payment fee of up to $25 plus the bank's charge, and the actual cost of a credit report.
How long must a Missouri installment loan be?
A consumer installment loan must be repaid in at least four substantially equal installments over at least 120 days. Loans can be any amount, secured or unsecured.
Can I pay off a Missouri installment loan early?
Yes. On a simple-interest loan you save the interest that would have built up. On a precomputed loan paid off a month or more early, the lender must refund the unearned interest.
What happens if I miss a payment?
After 15 days the lender can charge a late fee. After 10 days it can send a notice of your right to cure, and it can't demand the full balance or repossess until 20 days after that notice.
How do I check a Missouri installment lender's license?
Use the Division of Finance Bank & Licensee Search and choose Consumer Installment (510) or Small Loan Companies (367) under Type.
Official Sources
General information, not legal advice. Facts on this page were checked against these sources on October 28, 2026.
- RSMo 408.510 - Consumer installment lenders
- RSMo 408.100 - Interest at rates agreed by the parties
- RSMo 408.120 - How interest is computed
- RSMo 408.140 - Fees allowed on consumer loans
- RSMo 408.170 - Refunds when a loan is prepaid
- RSMo 570.120 - Returned check service charge
- RSMo 408.554 - Notice of default and right to cure
- RSMo 408.555 - Limits on acceleration and repossession
- RSMo 408.562 - Damages for violations
- RSMo 367.100 - Consumer credit loans of $500 or more
- RSMo 367.110 - Consumer credit license required
- RSMo 367.200 - Penalty for unlicensed lending
- Missouri Division of Finance - Consumer installment lenders
- Missouri Division of Finance - Small loan companies
- Missouri Division of Finance - Bank and licensee search
- Missouri Division of Finance - Consumer complaints
- CFPB - Rights under the Military Lending Act