Personal loans in Mississippi
Census ACS 2020–2024 5-year estimates; NCUA June 2026 call report; FDIC BankFind, Oct 2026.
Mississippi personal loan rules at a glance
| Governing law | Small Loan Regulatory Law (Miss. Code Ann. § 75-67-101 et seq.) with rates in § 75-17-21; Mississippi Consumer Alternative Installment Loan Act (§ 75-67-175 et seq.); Mississippi Credit Availability Act (§ 75-67-601 et seq.). (Miss. Code Ann. §§ 75-17-21, 75-67-181, 75-67-619) |
|---|---|
| Rate cap | Small loan licensees may choose: (1) tiered rates of 36% a year on the first $1,000, 33% on $1,000-$2,500, 24% on $2,500-$5,000 and 14% above $5,000 (or 18% on loans of $25,000+); or (2) for loans up to $5,330 (from July 1, 2026), up to 59% APR, repayable in at least 9 equal monthly payments over at least 272 days, with monthly payments capped at 22.5% of gross monthly income. Separately, Credit Availability Act licensees may charge a monthly handling fee of up to 25% of the outstanding balance (plus a 1% / $5 minimum origination fee) on 4-to-12-month installment loans up to $3,320. (Miss. Code Ann. § 75-17-21(1)-(2); §§ 75-67-179(3), 75-67-181; § 75-67-619(2)-(4)) |
| License required | Yes. Consumer installment lenders must hold a license under the Small Loan Privilege Tax Law (§ 75-67-201 et seq.); credit availability lenders need a separate DBCF license. (Miss. Code Ann. § 75-67-177(1); § 75-67-603(g)) |
| Loan sizes covered | The 59% alternative-installment rate applies to loans up to $5,330 (CPI-adjusted each July 1; set at $5,100 by 2024 SB 2543). Credit availability accounts may not exceed $3,320 (from July 1, 2026; set at $3,250 by 2025 SB 2495) or $500 for the shorter 4-6 month product. (Miss. Code Ann. § 75-67-181; § 75-67-619(3)) |
| Origination / other fees | Under the § 75-17-21 rates: a closing fee of 4% of total payments or $25, whichever is greater, on loans of $10,000 or less. Credit availability loans: an origination fee of 1% of the amount disbursed or $5, whichever is greater. (Miss. Code Ann. § 75-17-21(3)(a); § 75-67-619(2)(c)) |
Bad credit loans in Mississippi
Bad credit doesn't automatically rule you out in Mississippi. Many lenders in our network look at your income and bank activity, not just your score, and offer personal installment loans of $500 to $5,000 to borrowers with fair or poor credit. Rates are higher than prime offers, so compare the monthly payment and total cost before you accept. More on bad-credit loans.
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Estimate only. Your rate depends on your credit, income and state; your lender shows the exact terms before you sign.
Compare neighboring states
Lenders must follow the law of the state where you live, not where you visit.
| State | Rate cap |
|---|---|
| Alabama | Tiered caps. |
| Arkansas | 17% a year maximum for non-bank lenders, set by the state constitution. |
| Louisiana | Blended tiers: 36% to $1,400, 27% to $4,000, 24% to $7,000, 21% above. |
| Tennessee | 36% effective rate for industrial loan and thrift loans of $100+ (since July 2025); flex loans 24% plus fee. |
Personal Loans by city in Mississippi
Counties in Mississippi
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Also see: Payday Loans in Mississippi · Title Loans in Mississippi · All Mississippi loan options
Frequently asked questions
Is there a cap on personal loan interest rates in Mississippi?
Tiered 36%-14% APR; 59% to $5,330; credit availability 25%/month to $3,320.
Do personal loan lenders need a license in Mississippi?
Yes. Consumer installment lenders must hold a license under the Small Loan Privilege Tax Law (§ 75-67-201 et seq.); credit availability lenders need a separate DBCF license.
Can I get a personal loan with bad credit in Mississippi?
Yes, some lenders in our network work with fair or bad credit, but approval is not guaranteed and rates are higher. Licensed lenders in Mississippi must follow the state's consumer-lending rules shown above; tribal and bank-partner lenders may follow different rules, so compare the APR on every offer.
How can I get an emergency loan in Mississippi?
Unexpected bills happen, and an online emergency loan can help you handle them quickly. Fill out our 3-minute form with your income and bank details, and lenders in our network will review your request. Many make decisions within minutes, and approved funds are often deposited by the next business day. Amounts range from $100 to $5,000, and you're never obligated to accept an offer.
Can I get a personal loan in Mississippi with bad credit?
Yes, it's possible. Many lenders in our network work with borrowers who have fair, poor or limited credit, and they look at factors like income and employment, not just your score. Approval and rates depend on your full profile, and nothing is guaranteed, but checking your options is free. Mississippi residents can see if they qualify for $100 to $5,000 in about 3 minutes.
How do installment loans work in Mississippi?
You apply, the lender reviews your income and credit profile, and if you're approved you receive a lump sum deposited into your bank account. You then repay it in equal scheduled payments over an agreed term, with interest built in. Your agreement shows each payment amount and date before you sign. Mississippi residents can see installment loan offers with our free 3-minute form.
What credit score do I need for a personal loan in Mississippi?
There's no single minimum. Some lenders want good credit, but many lenders in our network consider fair, poor and limited credit and weigh your income and job history too. A higher score may get you better rates and larger amounts, while lower scores may still qualify for smaller loans. Find out what's available to you in Mississippi with our free 3-minute form.