Mississippi Payday Loans
You bounce a check or are late on bills and you pay a penalty fee. You get a payday loan and you pay an interest rate. But no matter what it's called or how it's measured, the cost is in dollars. So sometimes payday loans are the cheapest option. This page has what we have found are the lowest online loan rates for people living in Mississippi. If you know of a online lender with cheaper rates for your state, please contact us.
PaydayOne.com
Finance Charges
| Loan Amount |
Interest and Fees |
Total Due |
APR 14 days |
| $100 | $17.50 | $117.50 | 456.25% |
| $150 | $26.25 | $176.25 | 456.25% |
| $200 | $35.00 | $235.00 | 456.25% |
| $250 | $43.75 | $293.75 | 456.25% |
| $300 | $52.50 | $352.50 | 456.25% |
Terms
The maximum payday loan for Mississippi residents is $300.The maximum loan term is 30 days.
Requirements
You must be at least 18 years old and have:- A job or proven source of income
- An email address
- A verifiable phone
- A checking account in good standing (PayDay One defines an account in good standing if it shows 30 days of transaction history without any non-sufficient fund transactions, returned checks, overdraft charges, or negative account balances.)
Guarantee
If you find a lower price from another similarly licensed online lender we'll match it.Relevant Legal Excerpts for Mississippi Payday Loans
Section 75-67-519. Deferred and delayed deposits. [Repealed effective July 1, 2012].
(1) A licensee may defer the deposit of a personal check cashed for a customer for up to thirty (30) days under the provisions of this section.
(2) The face amount of any delayed deposit check cashed under the provisions of this section shall not exceed Four Hundred Dollars ($400.00). Each customer is limited to a maximum amount of Four Hundred Dollars ($400.00) at any time. (3) Each delayed deposit check cashed by a licensee shall be documented by a written agreement that has been signed by the customer and the licensee. The written agreement shall contain a statement of the total amount of any fees charged, expressed as a dollar amount and as an annual percentage rate. The written agreement shall authorize the licensee to defer deposit of the personal check until a specific date not later than thirty (30) days from the date the check is cashed.
(4) A licensee shall not directly or indirectly charge any fee or other consideration for cashing a delayed deposit check in excess of eighteen percent (18%) of the face amount of the check.
(5) No check cashed under the provisions of this section shall be repaid by the proceeds of another check cashed by the same licensee or any affiliate of the licensee. A licensee shall not renew or otherwise extend any delayed deposit check.
(6) A licensee shall not offer discount catalog sales or other similar inducements as part of a delayed deposit transaction.
(7) A licensee shall not charge a late fee or collection fee on any deferred deposit transaction as a result of a returned check or the default by the customer in timely payment to the licensee. Notwithstanding anything to the contrary contained in this section, a licensee may charge a processing fee, not to exceed an amount authorized by the commissioner, for a check returned for any reason, including, without limitation, insufficient funds, closed account or stop payment, if such processing fee is authorized in the written agreement signed by the customer and licensee. In addition, if a licensee takes legal action against a customer to collect the amount of a delayed deposit check for which the licensee has not obtained payment and obtains a judgment against the customer for the amount of that check, the licensee shall also be entitled to any court-awarded fees.
(8) When cashing a delayed deposit check, a licensee may pay the customer in the form of the licensee's business check or a money order; however, no additional fee may then be charged by the licensee for cashing the licensee's business check or money order issued to the customer.
DISCLAIMER: The documentation on this site is for informational purposes only and is not intended to be a legal substitute for the official versions. There is no guarantee for accuracy, completeness, or timeliness of the information provided. Refer to the lender for the fees charged or other loan questions. All ownership rights for the material not original to this site remain with the respective copyright holders.