7 Best Payday Loans Online Mississippi 2023: Get Fast Money with No Credit Check

Looking for a Loan fast below, we have found 7 of the best payday loans to get money fast. The best Payday Loan is Fast Loans Group, along with other companies like Fast Money Source or Honest Loans; the reasons they are the best are in the table below.

If you need money fast but banks in Mississippi won’t help you because you have bad credit, no credit history or low income, then now you can rely on our recommended payday loans online Mississippi to get the money you need easily. 

Our recommended online payday lenders in Mississippi will offer you the ideal payday loan you need right now. Because you will get access to the lowest APR in the market, the fastest approval and disbursement, along with the freedom to use the money as you wish.

If you’re ready to take out your online payday loan now, then check out our ranking to send your loan application right now.

Ranking of the 7 Best Payday Loans Online in Mississippi 2023

After exploring and analyzing the entire payday lending industry in Mississippi, we’ve picked the top 7 lenders in 2023, so you can get the money you need fast under the best conditions:

• Fast Loans Group: Best Overall Online Payday Loans in Mississippi
• Fast Money Source: Fastest Payday Loan Approval and Disbursement
• Honest Loans: Lowest Payday Loan APR in Mississippi
• Credit Clock: Most Reliable Payday Loan Provider in Mississippi
• Heart Paydays: Best for Borrowers with No Credit History in Mississippi
• Low Credit Finance: Best for Low Income and Unemployed Borrowers
• Big Buck Loans: Best for Extremely Bad Credit

To apply for your payday loan now, just click on the name of your preferred payday lender so you can be redirected to the application form. It will only take you 5 minutes to complete it and our recommended lenders will proceed to disburse your loan the same day.

1. Fast Loans Group: Best Overall Online Payday Loans in Mississippi

Fast Loans Group is our #1 choice for payday loans in Mississippi because they offer all the benefits you could ever need to find in a payday loan offer. Low APR and fees, fast disbursement, high approval rate for all types of customers, and the freedom to use the money as you wish - this is why we rate this company a solid 5 out of 5.

2. Fast Money Source: Fastest Payday Loan Approval and Disbursement

If you need money as soon as possible, then Fast Money Source can help you. Because they offer the online payday loan with the fastest approval and disbursement in Mississippi, along with a competitive APR and high approval rate for bad credit and limited credit history customers, you can rely on this lender to get the money you need.

3. Honest Loans: Lowest Payday Loan APR in Mississippi

If you’re shopping for the online payday loan with the lowest APR and fees in Mississippi, then you will find it at Honest Loans. Thanks to their premium network of direct lenders, they will be able to offer you an excellent deal regardless of your credit score, debt-to-income ratio and current employment situation.

4. Credit Clock: Most Reliable Payday Loan Provider in Mississippi

If you need money for an emergency outside of business hours, then Credit Clock will be the unique option at your disposal, because it’s the only payday lender available 24/7 in Mississippi. Furthermore, they will also offer you a competitive APR even if you have bad credit.

5. Heart Paydays: Best for Borrowers with No Credit History in Mississippi

If you have a limited credit history, or even worse, no credit activity at all, then Heart Paydays will be the best option for you. It will be the easiest way to get approved for a payday loan in Mississippi in your situation, and on top of that they will help you to get a loan for a low APR.

6. Low Credit Finance: Best for Low Income and Unemployed Borrowers

If you’re unemployed or your income is low at the moment, then Low Credit Finance can help you to get the payday loan you need. Because they consider alternative income sources such as online freelancing, unemployment benefits and pensions, it will be easy for you to get approved by this lender. However, keep in mind that the APR is likely to be higher than average.

7. Big Buck Loans: Best for Extremely Bad Credit

If your credit score is extremely bad, let’s say just 300 points, then you should apply for a Mississippi payday loan at Big Buck Loans. With the possibility to borrow up to $500 regardless of your credit situation, it’s the most reliable option in your situation. Nonetheless, they will charge you a higher APR, but it’s a small price to pay in order to get the money you need right now.

How to Apply for an Online Payday Loan in Mississippi Right Now

Are you ready to take out your online payday loan? Then here you have the 5 steps to follow:

• Choose a Mississippi online payday loan provider from our ranking
• Fill out the application form with all the necessary information
• Submit the application and wait for approval
• Get approved and choose the offer that better meets your needs and goals
• Agree to the contract of your chosen offer and receive the money in your bank account the same day!

The application process will take you 5 minutes, and since we’ve only selected the fastest payday loan lenders in Mississippi, you can expect to get approved immediately and to receive the loan money within a few hours.

How to Qualify for an Online Payday Loan in Mississippi

Here you have the full list of eligibility requirements that you will have to meet in order to qualify for an online payday loan in Mississippi:

• You must be a US citizen or permanent resident
• You must be at least 18 years old
• You must have a verifiable and reliable income source
• You must have a favorable debt-to-income ratio (DTI)
• You must have an active bank account
• You must have an active phone number and email

Since we’ve only picked the payday loan lenders with the easiest-to-meet eligibility requirements, and hence the highest approval rate, you will be able to get the money you need in the majority of cases. Because even if you have extremely bad credit, no credit history or if you’re unemployed, our recommended online Mississippi payday lenders will be able to help you.

How Do Payday Loans Online in Mississippi Work?

They work like conventional personal loans but there are some subtle differences worth noting, such as…

• You have to pay them back in a maximum of 30 days
• You cannot take out more than $500 at a time ($410 in cash + $90 fee)
• They are approved instantly and disbursed faster
• They usually carry a higher APR.

The process starts when you apply for a payday loan through any of our recommended lenders or brokers, and here you have the full breakdown:

• Our lenders will automatically review your application to verify if you meet the eligibility requirements. If it’s the case, then you will be granted instant approval
  
• Once you’ve been instantly approved, you will receive different offers and you will be able to choose the one that better meets your needs and goals
  
• Once you’ve accepted an offer, you will receive a contract, and after accepting it you will receive the money in your bank account.

All in all, if you’ve taken out a loan before, then it will be pretty easy for you to handle a payday loan because they work in the same way.

What Should You Consider Before Taking Out an Online Payday Loan in Mississippi?

It’s in your best interest to know more about payday loans before applying for them, because this will allow you to see exactly what to expect and how to use these loans responsibly. 

Remember That This is a Short Term Loan

You will only have a maximum of 30 days to repay the loan back, and hence you need to organize your finances to make sure that you can pay it back on time. Otherwise, a payday loan might become an expensive problem for you. 

Take Into Account that Payday Loans Can Be Expensive

Given that the maximum APR is set at 521%, and that payday lenders are not obligated to waive late payment fees and penalty fees if you fail to pay back on time, these loans can become quite expensive if you don’t adhere to the payment schedule. Therefore, always make sure that you will be able to repay it on time to avoid these possible problems.

Always Create a Budget and Be Honest About Your Finances

Make sure to create a budget to keep your finances in order before taking out a payday loan in Mississippi. This way you will make it easier for you to repay it on time, and of course you also need to be honest with yourself to see if you are in the capacity to take out a payday loan and pay it back. Because as we have previously said, these are loans that can get quite expensive if you don’t adhere to the payment schedule.

Ask Yourself If You Really Need to Take out a Payday Loan in Mississippi

Ideally, you should only take out a payday loan if you really need it, and by this we are talking about real emergencies such as pending medical bills, unexpected travel expenses, or an urgent car repair. If you’re planning to take out this loan to buy something you don’t really need, then you should think twice about it.

Why Choose Our Recommended Payday Loans Online Mississippi

If you want to learn why our recommended online payday loans are your best option in Mississippi, then come with us to explore all the reasons.

Carefully Selected by Specialists

Our team of specialists on payday loans in Mississippi has spent over 100 hours - which include research, analysis and reviews - to build this ranking. Therefore, you can trust our recommendations because they’ve been thoroughly researched and carefully reviewed to make sure that they can offer you the best online payday loans in the state.

Only Legit Online Payday Lenders in Mississippi

We only work with payday lenders that have been approved and licensed by the Department of Banking and Consumer Finance (DBCF), that have excellent reviews and ratings and that have a clean record free from scandals. Therefore, you can trust our recommendations because they all are legit, licensed, regulated and reputable payday lenders that meet all the payday loan laws in Mississippi.

Quickest Way to Get Approved for a Payday Loan in Mississippi

Our recommended payday lenders have simplified the application, approval and disbursement process. You can fill out the application form in 5 minutes or less, you will be approved instantly if you meet the eligibility requirement and you will receive the loan money the same day. 

Best Interest Rate Even for Bad Credit

Payday loans usually get a bad rap because they charge a higher interest rate and fees, but our recommended lenders will always bring you the best interest rate even if you have bad credit. Therefore, you can expect to get a cheap payday loan if you rely on our recommended providers.

Regulations for Payday Loans in Mississippi 2023: All You Need to Know

It’s also important to be aware of the regulations that reign over online payday loans and the companies that issue them. Here you will find a complete overview on all the current regulations for payday loans in Mississippi 2023.

Overview on Payday Loan Regulations in Mississippi

If you want to check all the existing regulations for payday loans in Mississippi in a fast fashion, then our comparison table will fulfill this objective perfectly.

Now we will go into the details of each regulation in the following sections, so you can clearly understand everything about payday loans in Mississippi.

Maximum Payday Loan Amount in Mississippi

A payday lender can write a check for a maximum of $500 in Mississippi. Writing a check for more than that would be illegal. Therefore, you can only borrow a maximum of $500 with a payday loan in the state, but it’s worth noting that it’s not the exact amount you will receive. Let us explain.

If you apply for a $500 payday loan in Mississippi, then the lender will write the check and discount the fee from it. If we use the maximum possible fee, then it’d be $90 USD, which means that you’d receive a total of $410 in your bank account or through your preferred payment method.

Maximum Interest Rate and Finance Charges for Payday Loans

The statutes of Mississippi have set the maximum APR for payday loans at 521%, in order to protect customers from predatory interest rates. Although it seems like a high APR, the fact that the state limits the loan term to 30 days will make it an affordable interest rate.

Furthermore, Mississippi has set a limit for finance charges as well, and this number will vary depending on how much you borrow. Here you have a list with the ranges and their respective finance charges:

• If you borrow $250 or less: The maximum finance charge will be $20 per every $100
• If you borrow $251-$500: The maximum finance charge will be $21.95 per every $100

So you can fully understand how much you’d have to pay when taking out a payday loan in Mississippi, we’ve built this table with illustrative examples:

Keep in mind that we are using the maximum value in each case. Hence, you can get access to a better APR and lower finance charges depending on your creditworthiness and the loan term you select.

Maximum Payday Loan Term in Mississippi

As we’ve previously mentioned, the maximum payday loan term in Mississippi is 30 days. However, it’s worth noting that the statutes have not defined a minimum payday loan term, which means that lenders can issue a loan for 3-7 days for example. This regulation protects customers by limiting the action of the APR.

Maximum Number of Payday Loans at a Time in Mississippi

The statutes have not set a specific limit for the number of payday loans you can have at a time in Mississippi. However, the total number of payday loans cannot exceed the mark of $500, including the payday loan fee. This regulation prevents borrowers from creating excessive debt that they will struggle to pay back, especially taking into account the maximum APR of 521%.

Additional Payday Loan Regulations in Mississippi

It’s also worth taking into account the following regulations so you can know your rights as a borrower:

• It’s forbidden by law to renew, extend or rollover your payday loan by just paying the fee. This is an action that goes against the statutes, and hence you can report the lenders that incur in this fault
  
• In case your payday loan check is deposited and returned unpaid, the payday lender can bill you a $30 NSF fee only one time (and only if it was stated in the contract and agreement)
  
• Payday lenders in Mississippi are not obligated by law to waive late payment fees or to offer you a payment plan in case you cannot repay the payday loan on time
  
• You cannot be prosecuted or arrested if you fail to repay your payday loan in Mississippi. Nonetheless, the payday lender can initiate a civil action against you in a civil court, on top of damaging your credit score by reporting you to credit bureaus.

Best Payday Loans Online in Mississippi Near Me: Find the Ideal Loan in Your City

Our recommended payday loan providers cover all the 433 cities and towns in the state of Mississippi. Be it Jackson, Gulfport, Southaven, Biloxi, Hattiesburg, Pascagoula or any other city or town, you can apply for your online payday loan now and you will receive the money you need in record time.

Payday Loans Online in Mississippi Near Me Available in 433 Cities and Towns

Our recommended lenders can provide online payday loans to all the 433 cities and towns in Mississippi. Be it Jackson MS, Starkville, Madison, Columbus MS, Laurel, Ocean Springs, Grenada MS, Petal, Waveland, Ripley MS, Winona, Houston MS, Iuka MS or any other location in Mississippi, you can rest assured that our recommended companies will be able to bring you the payday loan you need in record time.

Mississippi Cities with the Highest Demand for Online Payday Loans

It’s evident that the cities and towns with the highest number of population will have the highest demand for online payday loans as well. This is why we’ve built this table, to let you see how popular payday loans are in the state of Mississippi.

We’ve personally consulted with our recommended payday loan providers to verify this info, and they’ve confirmed it that people from Jackson, Gulfport, Southaven, Biloxi, Hattiesburg and all the other locations in our table frequently apply for payday loans, usually for $500 and agree to pay them back in 30 days.

Pros and Cons of Payday Loans in Mississippi

The best way to decide if you should take out a payday loan in Mississippi or not is by comparing the pros and cons, and this is exactly what we will help you to do right now.

The Pros of Online Payday Loans in Mississippi

Payday loans offer unique benefits that other types of loans will never be able to bring you, and this is why they’re massively popular in Mississippi. Here’s what you need to know.

1. Fastest Way to Get Money Online in Mississippi

Our recommended Mississippi online payday loans are approved instantly and they disburse the loan money the same day… usually within just a few hours. They beat traditional personal loans in this area, making them the fastest way to get online money in Mississippi.

2. Get Money Even If You Have Bad Credit

Having a credit score lower than 580 points will place you in the category of “bad credit”, and most banks and lenders will reject your loan applications right off the bat. This is not a good situation to be in, and this is why you should rely on payday loans instead, because they offer the highest approval rate for customers with bad credit and extremely bad credit.

3. Ideal Type of Loan When You Have No Credit History in Mississippi

If you have no credit history at all, then chances are most banks in Mississippi will reject your loan applications. However, online payday loan lenders in Mississippi will happily accept you as a borrower, offering you a competitive APR, fast approval and same day disbursement for up to $500 USD.

4. Get Emergency Money for Any Purpose in Mississippi

Emergencies can strike at any moment, and no other type of loan can beat payday loans when it comes to bringing you money fast for any type of purpose. Be it unexpected travel expenses, an urgent car repair, late college fees, paying for your credit card, or pending medical bills, our recommended Mississippi online payday lenders will be able to help you.

5. You Can Get Money Even If You’re Unemployed in Mississippi

Being unemployed can close the doors of the banks and traditional lenders to you, because they will consider you as a high risk borrower. However, payday loan lenders can approve you even if you’ve lost your job, because they will consider alternative income sources that include unemployment benefits in Mississippi.

The Cons of Online Payday Loans in Mississippi

Even though the benefits of payday loans are prominent, it’s also necessary to take the cons into account. Here you have all the information you need.

1. The APR Will Be Higher (But It Will Be a Small Price to Pay)

The downside of online payday loans is that they will usually offer a higher APR than traditional personal loans. Fortunately, Mississippi applies a price cap to the maximum APR and finance charges of payday loans, and hence you will only have to pay a maximum of $20 per every $100 if you borrow $250 or less, or a maximum of $21.50 per every $100 if you borrow $251-500.

2. You Can Only Borrow a Maximum of $500 in Mississippi

The current regulations for payday loans in Mississippi will only allow you to borrow a maximum of $500. Therefore, it’s a con if you need more money than that, but if you only need $500 or less, then a payday loan will be an excellent choice for you.

Alternatives to Payday Loans Online in Mississippi

If you’ve found out that an online payday loan might not be the best choice for you at the moment, then here you have the best alternatives in Mississippi.

Bad Credit Installment Loans in Mississippi

Payday loans in Mississippi can lend you a maximum of $500 USD for up to 30 days, and if these conditions don’t meet your needs, then you should consider applying for a bad credit installment loan. You can get approved even if you have bad credit, and since these are not payday loans, the state of Mississippi will apply another set of regulations that will allow you to borrow more than $500 and for a loan term longer than just 30 days.

Cash Advances in Mississippi

If you only need a small amount of money and you feel like the APR and loan term of a payday loan won’t meet your needs, then you should consider applying for a cash advance in Mississippi. Keep in mind that you will need a credit card to access this type of funding. This is better suited for small expenses such as $100-300 USD, and the disbursement is usually automatic once you’ve been approved by your credit card company.

Title Loans in Mississippi

The regulations for payday loans in Mississippi are strict, and hence they might not be able to provide you with the solution you need right now. If this is your case, because you need way more than $500, and you want to borrow it for longer than 30 days and you want to reduce the APR as well, then you should apply for a title loan in Mississippi. 

You will need to leave a collateral as a guarantee that you will pay the loan back, but this action will allow you to get a better loan and maximize your chances of approval even if you have terrible credit.

F.A.Q

If you want to explore even more about online payday loans in Mississippi, then make sure to read this section. Because here you will find the answers to the most frequently asked questions about payday loans in the state.

Are payday loans legal in Mississippi?

Payday loans are legal in Mississippi according to the Stat. 75-67-501 et seq (Check Cashers Act). Therefore, you can legally take out a payday loan online or in-store, only keep in mind that the state-level regulations will always apply, limiting the maximum loan amount you can take out and the maximum loan term.

How many payday loans can you get in Mississippi?

You can have multiple payday loans in Mississippi as long as the principal, and the interest and fees don’t exceed the limit of $500 USD. However, we recommend you to repay a payday loan in full before taking out a new one, because this will make your debt much easier to manage.

How much is a payday loan in Mississippi?

This will depend on the payday loan company you choose, how much you want to borrow and your credit profile. However, Mississippi has set clear limits when it comes to the price and finance charges of payday loans. If you borrow $250 or less, then you won’t have to pay more than $20 per every $100. And if you borrow anywhere from $251 to $500, then the maximum price will be $21.95 per every $100 you borrow.

Therefore, if you take out a payday loan for $500 in Mississippi, the fee would be $90, meaning that you’d only receive $410 and you’d have to pay back a total of $500 USD. We have listed the best $500 payday loans here.

What is the statute of limitations on a payday loan in Mississippi?

The statute of limitations on a payday loan in Mississippi is 3 years and it starts running from the last time you made a payment or promised to make a payment. The state of Mississippi created this regulation to protect borrowers, and hence it’s key to take it into account.

What is the maximum payday loan amount you can borrow in Mississippi?

You can borrow a maximum of $500 USD at a time when taking out a payday loan in Mississippi. This amount is more than enough for thousands of people in Mississippi who need to cover unexpected expenses, and this is why $500 payday loans are popular in the state.

How old do you have to be to get a payday loan in Mississippi?

You need to be at least 18 years old to take out a payday loan in the state of Mississippi. This regulation is the same in the majority of states where payday lending is legal. You will have to enter your birth date when filling out the application form in order to verify your age.

Can you take out a payday loan in Mississippi with no credit check?

Yes, our recommended online payday loans in Mississippi won’t perform a credit check after filing out the application form. However, once you’ve been approved, they’re likely to perform a soft credit check that won’t affect your credit score, as opposed to banks that usually perform hard credit inquiries that will reduce your credit score by 5-10 points for up to 1 year.

Can you get approved for a payday loan in Mississippi with bad credit?

Yes, you can get approved for a payday loan in Mississippi even if your credit is extremely bad. In fact, payday loans are the most popular amongst borrowers with bad credit in Mississippi, because it’s often the only type of loan they can take out without complications. See here the best bad credit loan options