Payday loans in Michigan
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
Michigan payday loan rules at a glance
| Governing law | Deferred Presentment Service Transactions Act, 2005 PA 244, MCL 487.2121 et seq. (MCL 487.2153) |
|---|---|
| Maximum loan | A licensee may make one payday loan to you for any amount up to $600 (fees not included). (MCL 487.2153(1)) |
| Fees / interest cap | The service fee may not exceed 15% of the first $100, 14% of the second $100, 13% of the third $100, 12% of the fourth $100 and 11% of the fifth and sixth $100 - $76 on a $600 loan - plus any allowed database verification fee. No interest may be charged. (MCL 487.2153(1),(4)(a)) |
| Maximum term | The maturity date may be no more than 31 days after the loan is made, and no extension can go beyond 31 days from the loan date. (MCL 487.2153(4)(b); MCL 487.2152) |
| Rollovers / renewals | A lender may not renew a payday loan. It may extend one only if it charges no fee and does not increase the amount you owe above the original agreement. (MCL 487.2155(1)) |
| Loans at one time / database | You may have only one open payday loan with a given lender and no more than two open payday loans in total. Lenders must check the state's electronic database before making a loan. (MCL 487.2153(2)) |
| Extended payment plan | If you take 8 payday loans from any lender(s) in a 12-month period, you can ask (within 30 days after the due date) to repay the eighth and later loans in 3 equal installments due on your next 3 paydays. A plan fee applies (set at $15 in the statute and CPI-adjusted; the Attorney General lists it as $18.69), and you can't take new payday loans during the plan. (MCL 487.2155(2)) |
| Returned-payment fee | If your check bounces, you owe the check amount, your own bank's NSF fees and the payday lender's returned-check fee, which the Attorney General lists as $31.14. (Deferred Presentment Service Transactions Act) |
| Criminal charges for bounced check | A payday lender may not use any criminal process to collect on the loan; it may take civil collection action. (MCL 487.2152(2)(n)) |
How much will I repay?
Michigan does not set a single per-$100 fee cap for this product; check the lender's disclosure. $15 per $100 is shown as an example.
Estimate only. Your lender shows your exact cost before you sign.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Status | Max loan |
|---|---|---|
| Indiana | Legal | $825 total outstanding with one lender (single or combined loans), and no single loan over 20% of your gross monthly… |
| Ohio | Legal | A short-term loan may not exceed $1,000. |
| Wisconsin | Legal | A lender may not make a payday loan that leaves you owing all payday lenders combined more than $1,500 or 35% of your… |
Payday Loans by city in Michigan
Counties in Michigan
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Also see: Personal Loans in Michigan · Title Loans in Michigan · All Michigan loan options
Frequently asked questions
Are payday loans legal in Michigan?
Payday loans (deferred presentment service transactions) are legal in Michigan from lenders licensed under the Deferred Presentment Service Transactions Act (2005 PA 244), with a $600 cap per loan, a tiered fee limit, a 31-day maximum term and a statewide database.
How much can you borrow with a payday loan in Michigan?
A licensee may make one payday loan to you for any amount up to $600 (fees not included).
How much do payday loans cost in Michigan?
The service fee may not exceed 15% of the first $100, 14% of the second $100, 13% of the third $100, 12% of the fourth $100 and 11% of the fifth and sixth $100 - $76 on a $600 loan - plus any allowed database verification fee. No interest may be charged.
How many payday loans can you have at once in Michigan?
You may have only one open payday loan with a given lender and no more than two open payday loans in total. Lenders must check the state's electronic database before making a loan.
Can you roll over a payday loan in Michigan?
A lender may not renew a payday loan. It may extend one only if it charges no fee and does not increase the amount you owe above the original agreement.
Do Michigan payday lenders have to offer a payment plan?
If you take 8 payday loans from any lender(s) in a 12-month period, you can ask (within 30 days after the due date) to repay the eighth and later loans in 3 equal installments due on your next 3 paydays. A plan fee applies (set at $15 in the statute and CPI-adjusted; the Attorney General lists it as $18.69), and you can't take new payday loans during the plan.
Can a payday lender press criminal charges in Michigan?
A payday lender may not use any criminal process to collect on the loan; it may take civil collection action.
Do payday loans in Michigan affect your credit score?
Usually only a little, if at all. Because many payday lenders don't use a traditional hard credit pull and often don't report to the major bureaus, a payday loan repaid on time typically has little effect on your score. A balance that goes unpaid and reaches collections could hurt it, so borrow an amount you can repay on your due date. Michigan residents can see their options with our 3-minute form.
How much does a payday loan cost in Michigan?
The service fee may not exceed 15% of the first $100, 14% of the second $100, 13% of the third $100, 12% of the fourth $100 and 11% of the fifth and sixth $100 - $76 on a $600 loan - plus any allowed database… Your lender shows the exact fee, total amount to repay, due date and APR before you sign, so you know the full cost upfront. There's no charge to use our form, and you're never obligated to accept an offer. Compare what lenders offer Michigan borrowers in about 3 minutes.
What do I need to get a payday loan in Michigan?
Most lenders ask for a few basics: you must be a legal adult, with a valid government-issued ID, a steady source of income, an active checking account in your name, and a phone number and email. Some lenders also ask for recent pay stubs or bank statements. Having these ready makes our 3-minute form quick, and many Michigan applicants get a decision in minutes.
Can I get a payday loan online in Michigan?
Yes. You can request a payday loan online from anywhere in Michigan, using your phone or computer. Our secure form takes about 3 minutes and connects you with lenders in our network that serve Michigan residents. If you're approved, funds go straight to your checking account, often by the next business day. There's no cost to apply and no obligation to accept.