Missouri Payday & Small-Dollar Loan Laws
Payday loans legal
Missouri has no APR cap on payday loans, only a 75% cap on total interest plus fees across the loan's life including rollovers.
Missouri Lending Overview
Missouri law permits payday lending without a state-mandated interest rate cap, resulting in annual percentage rates that may reach approximately 1,950%. While the state does not limit the APR, it enforces a rule that prevents total interest and fees from exceeding 75% of the original loan principal over the life of the debt. Borrowers can access payday loans for amounts up to $500 with repayment terms typically ranging from 14 to 31 days.
Residents seeking short-term capital often utilize these payday loans or similar installment products to cover immediate expenses. Larger financing needs are generally met through unsecured personal loans, which typically offer lower rates and longer repayment schedules than high-interest emergency options. Missourians typically compare these specialized lending products based on total cost of credit and required repayment timeframes.
Maximum loan amount
$500
Maximum loan term
14–31 days
Maximum APR / finance charge
~1,950% APR (no cap)
Rollover / renewal rule
6 rollovers allowed
Cooling-off period
None required
Governing statute
Mo. Rev. Stat. § 408.500
Who regulates lenders in Missouri
Missouri Division of Finance
File a complaint with the regulator above if a lender violates state law. You can also file with the CFPB.
Missouri loan options
Other state loan laws
Reviewed by Darnell Pierce, MBA. Last reviewed January 2026. This page is informational, not legal advice — verify current rules with the state regulator before borrowing.