Mississippi Payday Loans Rates and Terms
The loan agreement is governed by the applicable laws of the state of Mississippi.
Payday Loans In Mississippi (PDF Document)
Maximum Loan Amount
The maximum total amount a Mississippi resident can loan from Speedy Cash is $400. The maximum number of loans allowed open at any one time is two (2), and each loan is limited to $200 maximum. Loans must be approved and signed on separate business days.
Loan Terms
Your loan is generally due on your next payday not to exceed 18 days.
Extensions/Rollovers/Refinance
In accordance with Mississippi law, your loan must be paid in full by the due date.
You are eligible to re-loan at any time once the loan is paid in full.
Rate and Term Chart
ADVANCE AMOUNT
(Amount Financed)
|
FINANCE CHARGE
(Cost of Loan)
|
CHECK AMOUNT
(Total of Payments)
|
APR **
|
LOAN TERM
(14 days)
|
LOAN TERM
(30 days)
|
|
$100.00
|
$20.00 |
$120.00 |
521.43%
|
243.33%
|
|
$200.00
|
$40.00 |
$240.00 |
521.43%
|
243.33%
|
The following is a list of maximum fees allowable for services that may be offered
at this check cashing business:
Government Checks:
3% of the face amount of the check or five dollars ($5.00), whichever is greater
Personal Checks: 10% of the face amount of the check or five dollars ($5.00), whichever
is greater
All other checks or money orders: 5% of the face amount of the check or five dollars
($5.00), whichever is greater
Delayed deposit check: 16.67% of the face amount for checks under $250. 18% of the face amount for checks over $250.
The following is an example of the maximum fee allowed on delayed deposit
transactions:
| Amount Advanced |
Fee |
Face Amount of Check |
| $100.00 |
$20.00 |
$120.00 |
| $200.00 |
$40.00 |
$240.00 |
| $300.00 |
$65.85 |
$365.85 |
Mississippi law prohibits this Check Casher from accepting a fee to renew or extend
any delayed deposit check. Therefore, a delayed deposit check must be deposited
or the check face value paid in full before another check may be cashed.
This Check Casher is licensed and regulated by the Mississippi Department of Banking
and Consumer Finance. If you have any unresolved problem with a transaction at this
location, you are entitled to assistance. Please call or write: Mississippi Department
of Banking and Consumer Finance, P.O. Drawer 23729, Jackson, MS 39225-3729; Phone
1-800-844-2499.