Personalloaner

Mississippi lending rules

Personalloaner covers 299 Census places in Mississippi, which together hold an estimated 1,485,130 people. Licensed lenders set personal-loan terms here under Mississippi law, and the sourced rules below reach every borrower in the state.

By the Personalloaner Editorial Team · Last updated 2026-09-16

Compare loan offers Run the numbers first

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

Key rules for borrowers in Mississippi

RuleDetailSource
Maximum legal interest rate (usury cap) See the latest published figure
value_text left null: the maximum finance charge for licensed small-loan lenders is set by Miss. Code § 75-17-21, which § 75-67-119 references as the limit; no retrievable official page published the current figure for direct verification.		 Mississippi Department of Banking and Consumer Finance
as of 2026-09-16
Payday lending status Legal and licensed — check cashers (delayed-deposit/payday transactions) are licensed consumer-finance industries regulated by DBCF (Miss. Code § 75-67-501 et seq.)
Source says: "These industries include Money Transmitter, Small Loan, Check Cashers, Pawnbroker, Title Pledge, Consumer Loan Broker"		 Mississippi Department of Banking and Consumer Finance
as of 2026-09-16
Small-loan / installment lender licensing Small loan license required (Small Loan Regulatory Law; Miss. Code § 75-67-105)
Source says: "No person shall engage in the business of lending money ... without being the holder of a valid and subsisting license"		 Mississippi Department of Banking and Consumer Finance
as of 2026-09-16
State lending regulator Mississippi Department of Banking and Consumer Finance (DBCF)
Source says: "The Mississippi Department of Banking and Consumer Finance's (DBCF) mission is to regulate, supervise and safeguard financial institutions chartered and licensed in Mississippi"		 Mississippi Department of Banking and Consumer Finance
as of 2026-09-16
Delayed-deposit (payday) fee caps $20 per $100 advanced on checks ≤$250; $21.95 per $100 on checks over $250 (DBCF rule)
Source says: "Delayed deposit transaction: $20.00 per $100.00 advanced for checks $250.00 and under"		 Mississippi Secretary of State (DBCF administrative regulations)
as of 2026-09-16

Places we cover in Mississippi

The Census Bureau counts 299 places in Mississippi, and the largest are linked below.

Compare personal loan offers Run the numbers first

How we get paid: if you apply through the link above, a lending partner may send us a referral fee. It never changes the rate you are offered or what we publish. We are not a lender and we do not process applications. The lowest rates are only available to the most qualified applicants. Full disclosure.

Common questions

How high can interest rates legally go in Mississippi?
The answer turns on the product and on which statute applies to it. This page's table sets out Mississippi's usury cap and licensing rules, and each row carries its publisher and a link to the primary source.
What is Mississippi's position on payday lending?
Each state handles payday lending on its own: some permit it, some cap it, some prohibit it. The sourced row on this page gives Mississippi's current position.
How do I know a lender is licensed in Mississippi?
Consumer lenders generally need a licence issued by the state regulator identified on this page. Verify that licence with the regulator before you commit to anything.

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