Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
In Mississippi, payday loans are regulated under the Mississippi Check Cashers Act. For loans up to $250, lenders may charge up to $20 per $100 borrowed. For loans between $250.01 and $500, the fee is up to $21.95 per $100 borrowed. The maximum loan amount in the state is $500, including fees. Most loans are designed to be repaid on your next payday, typically within 14 to 30 days.
Annual Percentage Rate (APR)
200% - 521% (varies by lender and term)
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $100.00 | 14 days | 521.43% | $20.00 | $120.00 |
| $250.00 | 30 days | 243.33% | $50.00 | $300.00 |
| $500.00 | 30 days | 267.06% | $109.75 | $609.75 |
Representative Example: A $250 loan for 30 days would have a finance charge of $50.00, resulting in a total repayment of $300.00 and an APR of approximately 243.33%. Actual rates and fees are determined by the lender and your specific loan agreement.
State-Specific Information — Mississippi
Maximum Loan Amount: $500 (inclusive of fees)
Rate Cap: Fees capped at $20-$21.95 per $100 borrowed
Regulations: Mississippi Check Cashers Act (Miss. Code Ann. §§ 75-67-501 et seq.)
Licensing: Lenders must be licensed by the Mississippi Department of Banking and Consumer Finance.