Rates & Fees
Transparency is important to us. Below you'll find detailed information about our rates and fee structure.
We are a matching service, not a direct lender. Therefore, we do not determine the rates and fees associated with your loan. If you are connected with a lender, they will provide a loan agreement outlining the exact APR, finance charges, and terms before you sign. In Mississippi, state law tightly regulates payday lending. The maximum loan amount permitted by the Mississippi Check Cashers Act is $500. State law caps the fees lenders can charge: up to $20 per $100 borrowed for loan amounts up to $250, and up to $21.95 per $100 borrowed for amounts between $251 and $500. Rollovers are strictly prohibited in Mississippi, meaning you must pay off your loan in full before taking out another one. Late payments or returned checks may incur additional fees. Always review your lender's specific terms carefully before accepting a loan offer.
Annual Percentage Rate (APR)
Actual APR varies by lender and state law. In Mississippi, maximum fees are capped at $21.95 per $100 borrowed for loans over $250, which equates to an APR of roughly 521% for a typical 14-day term.
Representative Example
| Loan Amount | Term | APR | Finance Charge | Total Repayment |
|---|---|---|---|---|
| $100 | 14 days | 521.43% | $20.00 | $120.00 |
| $250 | 14 days | 521.43% | $50.00 | $300.00 |
| $400 | 28 days | 286.13% | $87.80 | $487.80 |
| $500 | 30 days | 267.06% | $109.75 | $609.75 |
This table provides a representative example of payday loan costs in Mississippi based on state maximum fee caps. Actual rates, fees, and terms will vary based on the lender you are matched with and your specific financial situation. We are not a direct lender and do not make credit decisions or set loan terms.
State-Specific Information — Mississippi
Maximum Loan Amount: $500
Rate Cap: Averages 521% (Maximum fees: $20 per $100 up to $250; $21.95 per $100 up to $500)
Regulations: Under the Mississippi Check Cashers Act, payday lenders are licensed by the state. The maximum loan amount permitted is $500. Terms are capped at 30 days. Rollovers of payday loans are strictly prohibited.
Licensing: Regulated by the Mississippi Department of Banking and Consumer Finance.