Mound Bayou at a glance
- Population: 1,417 (US Census Bureau, Vintage 2023 subcounty estimate), the 129th-largest of 299 places in Mississippi.
- 2020 Census base: 1,534 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: a loss of about 7.6% since the 2020 count (US Census Bureau).
- Rank among Mississippi places: 129th of the state's 299 Census places (US Census Bureau).
- Size percentile: roughly 57% of Mississippi's places have fewer residents (US Census Bureau).
- Coordinates: 33.8807 latitude, -90.7279 longitude (US Census Bureau Gazetteer).
- Nearest larger cities: Shelby, MS (5 mi); Cleveland, MS (9 mi); Drew, MS (12 mi); Ruleville, MS (15 mi); Rosedale, MS (18 mi) (Census populations, approximate straight-line distance).
- Nearest smaller communities: Winstonville, MS (3 mi); Merigold, MS (3 mi); Renova, MS (7 mi) (Census populations).
What a personal loan costs in Mound Bayou
Personal loans are installment credit — one lump sum, repaid in equal monthly installments across a fixed term you agree to up front.
The APR is the comparable price of a loan since it folds in fees; model any offer with the personal loan calculator first.
Because interest accrues for longer, a longer term means a lower installment and a higher total cost — decide which matters more to you.
Pre-qualification is a good first filter: it shows the rate and amount a lender may offer before you agree to a full application and a hard inquiry.
Mississippi lending rules that apply in Mound Bayou
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| 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 |
| 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 |
How to compare offers in Mound Bayou
Here is a short checklist for comparing personal loans in Mound Bayou:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Mississippi using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.