Jackson payday loan rates are set by Mississippi’s Check Cashers Act (Miss. Code Ann. § 75-67-501 et seq.). Snap Loans Cash is free to use — we never charge you a fee. The costs below are the maximums a licensed Mississippi lender may charge; your actual rate and fees come from the lender and appear in your loan agreement before you accept.
Loan Rules in Mississippi: Rates & Terms at a Glance
| Item | Mississippi limit |
|---|---|
| Maximum loan amount | $500 (delayed-deposit check) |
| Maximum fee | $20 per $100 up to $250; $21.95 per $100 for $251–$500 |
| Maximum term | 30 days (28-day minimum for $250–$500) |
| Rollovers | Prohibited (no renewals or extensions) |
| APR cap | None — payday loans are high-cost credit |
APR example: a $400 payday loan for about two weeks can cost up to $87.80 in fees — roughly a 572% APR. Source: Mississippi DBCF; statute: Miss. Code Ann. § 75-67-501 et seq. Verified July 10, 2026.
Mississippi loan rules at a glance
| Rule | Mississippi limit |
|---|---|
| Legal status | Legal and regulated |
| Maximum loan amount | $500 (delayed-deposit check) |
| Maximum term | 30 days maximum (28-day minimum for $250–$500) |
| Finance charge cap | $20 per $100 up to $250; $21.95 per $100 for $251–$500 |
| Rollovers | Rollovers, renewals, and extensions are prohibited |
| Cooling-off period | No statutory cooling-off; the no-rollover rule and 30-day maximum term are the core protections |
| Statute | Mississippi Check Cashers Act — Miss. Code Ann. § 75-67-501 et seq. |
Source: Mississippi Department of Banking and Consumer Finance (DBCF) · Rules verified July 10, 2026