Payday loans in Missouri
In Missouri, payday loans are legal: unsecured loans capped at $500, made by lenders holding Division of Finance licenses under RSMo 408.500 through 408.506.
- Payday lending
- Allowed
- Max cost
- Fees and interest can go up to 75% of the loan, and that includes renewals.
- Top amount
- You may owe no more than $500 at once to one lender and its affiliates.
Are payday loans legal in Missouri?
Payday loans are indeed legal in Missouri under sections 408.500, 408.505, and 408.506 of the state payday loan law. If licensed by the Missouri Division of Finance, a lender may provide you with up to $500 for a term of 14 to 31 days. The state does not set a limit on yearly interest rates. Instead, the combined interest and fees for the loan and all renewals must stay at or below 75 percent of the initial amount, equaling $75 per $100.
Principal means the original sum you borrow. In Missouri, you may renew up to six times. Every renewal must lower your principal by five percent or more. You may also cancel free of charge if you repay your principal in full before the lender's next full day of business ends. Any contract violating these fee rules is void, so Missouri judges and officials cannot enforce it. To confirm your lender's license, check the Division of Finance online search, because even lenders that should be licensed are covered by the law.
- Missouri places no cap on APR for payday loans; however, total interest and fees for the loan and all renewals may not go over 75% of the amount first borrowed.
- In Missouri, you may renew up to six times, but every renewal has to lower the principal by 5% or more of the original loan.
- Borrowers may cancel their payday loan for free by paying the principal back in full before the lender's next full working day closes.
- Because Missouri interest law for small loans allows rates the parties agree upon, the 75% total cost limit serves as the effective cap.
- House Bill 2423 (2026) takes effect August 28, 2026. It shifts small loan entities and earned wage access providers from registration to full licensing by the Division of Finance. It also sets a lower licence fee for lenders with 100 active accounts or fewer and creates a Consumer Licensing Fund.
Missouri payday loan laws
- Law in force
- Missouri payday loan law (covers unsecured loans of $500 or less)
- Cited as
- Mo. Rev. Stat. §§ 408.500, 408.505, 408.506
- Fees under the law
- No borrower can be made to pay accumulated interest and fees totaling more than seventy-five percent of the original loan amount. That holds for any one loan over its entire term and all renewals.
- Most you can borrow
- You may owe no more than $500 at once to one lender and its affiliates.
- How long a loan runs
- 14 days to 31 days
- Rollovers
- From the first renewal onward, you must reduce the original principal by at least 5% each time, with a maximum of six renewals allowed.
- Cooling-off gap
- the right to cancel at no charge by returning everything you borrowed before the end of the lender's next full working day
- Loans you can hold at once
- You cannot owe more than $500 in payday loans to one lender and its affiliates at any time.
- Installment lending limits
- Interest on small loans under RSMo 408.100 may be charged at rates the parties agree on; consumer installment lenders (408.510) must require no fewer than four equal installments spread over 120 days or more
Also checked against finance.mo.gov. Full statute text.
Online lenders that list Missouri
Twelve companies we track say they lend in Missouri: 4 online installment lenders, 1 store and online lender, 6 tribal lenders and 1 loan broker.
| Lender | Kind | Posted APR |
|---|---|---|
 NetCredit | Installment | 34.99% to 99.99% |
 OppLoans | Installment | 99% to 195% |
 Fig Loans | Installment | 190% to 279% |
 Rise Credit | Installment | 60% to 299% |
 ACE Cash Express | Store and online | 122.4% to 769.1% |
 Viva Payday Loans | Broker | Partner lenders quote 4.99% to 1,386% |
Tribal loans in Missouri
Lenders that should have been licensed are also covered by Missouri's payday rules. A contract whose fees violate section 408.500 is void, and neither Missouri officials nor judges may enforce contracts that break these sections. No primary page confirmed any action by Missouri against a specific online or tribal lender.
On the immunity claim tribal lenders make, see are tribal loans legal.
Six tribal lenders we track list Missouri as a state they lend in. Three of the six publish an APR, from 73.7% to 725%.
| Lender | Posted APR |
|---|---|
 Mobiloans | 73.7% to 405% |
 Spotloan | 99% to 490% |
 BrightLending | 325% to 725% |
 MaxLend | Not published |
 Minto Money | Not published |
| American Web Loan | Not published |
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Missouri and the states around it
| State | Payday lending | Max cost | Top amount |
|---|---|---|---|
| Missouri | Allowed | Fees and interest can go up to 75% of the loan, and that includes renewals. | You may owe no more than $500 at once to one lender and its affiliates. |
| Arkansas | Banned | 17% APR | None allowed |
| Illinois | Banned | 36% APR | None allowed |
| Iowa | Allowed | $15.00 per $100 borrowed | Across the checks held from one borrower, the total cannot exceed $500. |
| Kansas | Allowed | $15.00 per $100 borrowed | $500 |
| Kentucky | Allowed | $15.00 per $100 borrowed | All open deferred deposit transactions together may not exceed $600 in total proceeds (the figure moves with CPI each year and can never pass $850). |
| Nebraska | Banned | 36% APR | A total of $500 across all checks held from a single borrower |
| Oklahoma | Only as installments | None in the law | Across all licensees, one borrower’s outstanding principal from small loans is limited to $1,500 and moves with CPI every other year. Payments due each month may not exceed 20% of monthly income before deductions. |
| Tennessee | Allowed | $15.00 per $100 borrowed | The total face value for outstanding checks is $500. |
Missouri loans with no credit check
Installment loan rates: Interest on small loans under RSMo 408.100 may be charged at rates the parties agree on; consumer installment lenders (408.510) must require no fewer than four equal installments spread over 120 days or more.
See no credit check loans: the checks lenders still run, and the price.
Verify a lender's license in Missouri
- Look the lender up on the license list before you hand over any bank details.
- Lenders here answer to the Missouri Division of Finance, Consumer Credit Section.
- Had trouble with a lender? Report the lender.
Sources for Missouri
- According to the Division of Finance, sections 408.500, 408.505, and 408.506 make up the entire payday law for loans of $500 or less.; The Division describes the law as a 75% cap on costs and a rule allowing only six renewals.finance.mo.gov
- To offer unsecured loans of $500 or less, non-bank lenders must hold a licence from the Division of Finance.; Any contract that includes an illegal fee or charge has no legal force.; You may cancel free of charge before your lender's next full working day closes.revisor.mo.gov
- House Bill The Consumer Licensing Fund for Division of Finance came from 2423, and licence fees go into it.; According to H.B. 2423, applicants managing no more than 100 active accounts qualify for a reduced licence fee.; House Bill 2423 requires a Division licence from small loan entities and earned wage access services, which previously only registered.documents.house.mo.gov
- Payday loans must last a minimum of 14 days and a maximum of 31 days.; The combined interest and fees for a loan and all its renewals cannot go over 75% of the original amount.; One borrower cannot owe more than $500 in payday loans to a single lender and its affiliates at any time.revisor.mo.gov
- Interest on small loans under 408.100 may be charged at rates the parties agree to.revisor.mo.gov
- Consumer installment loans require at least four equal payments across a span of at least 120 days.finance.mo.gov
- An online licensee search is provided by the Division of Finance.finance.mo.gov
- Consumers can file complaints online or on paper with the Division of Finance.finance.mo.gov