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MS state reference

Mississippi lending rules

Mississippi has 299 Census places covered on Personalloaned, with a combined estimated population of 1,485,130. Personal-loan terms in Mississippi are set by licensed lenders under state law; the sourced rules below apply to every borrower in the state.

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

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Sourced rules

Key rules for borrowers in Mississippi

RuleDetailSource
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

Cities in Mississippi

We cover 299 Census places in Mississippi. The count and the combined population figures are summed from the US Census Bureau's Vintage 2023 subcounty population estimates (retrieved 2026-09-17).

Common questions

Frequently asked questions

What interest rate can a lender charge in Mississippi?
It depends on the product and the statute that governs it. The sourced table on this page lists Mississippi's usury cap and the licensing rules, each with its publisher and a link to the primary source.
Are payday loans legal in Mississippi?
Payday lending is regulated state by state; some states permit it, some cap it, and some prohibit it outright. See the sourced figure on this page for the current position.
Do I need a license to lend money in Mississippi?
Most consumer lenders must be licensed by the state regulator named on this page. You can verify a lender's license with that regulator before you sign anything.

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