Payday Loans in Missouri
Missouri permits regulated payday loans of $500 or less for 14–31 days. The law allows limited renewals with mandatory principal reduction and caps total accumulated interest and fees over the loan and renewals at 75% of the original principal.
Missouri legal category: Payday Loan / Small Short-Term Loan · RSMo §§408.500 and 408.505
Missouri payday loans at a glance
- Legal status
- Permitted Regulated
- Legal category
- Payday Loan / Small Short-Term Loan
- Maximum amount in this regime
- $500
- Term
- 14–31 days
- Regulator
- Missouri Division of Finance
- Verified
- 2026-09-06
Choose a loan type by amount
PLS Cash Advance currently presents request amounts from $200 to $5,000. The ranges below are navigation guidance between our state loan guides — not statutory limits, eligibility rules, or a promise of approval.
Payday Loans in Missouri
Preferred routing for Missouri payday requests within the statutory $500 ceiling.
Installment Loans in Missouri
Preferred routing for larger or multi-payment requests after the payday $500 ceiling. $5,000 is the current PLS Cash Advance selector maximum, not a Missouri statutory maximum for §408.510 loans.
Amount and term limits
Missouri payday/small short-term loans under this framework are unsecured loans of $500 or less. The same lender may not have more than $500 outstanding to the borrower under the statutory payday framework.
Missouri law requires a minimum term of 14 days and a maximum term of 31 days for the original loan and renewals.
Interest, fees and repayment
Missouri does not reduce the payday product to one flat statutory origination percentage. The 75% figure is an aggregate ceiling across the full loan and renewal sequence, not a recommended or typical initial fee.
The lender may charge simple interest and fees under §§408.100 and 408.140, but total accumulated interest and fees on the original loan and all permitted renewals may not exceed 75% of the initial loan amount.
The payday loan runs 14–31 days. A renewal requires payment of interest and fees due, and each renewal must reduce principal by at least 5% of the original amount.
Rollovers, refinancing and early payment
- Rollover allowed?
- Yes
Missouri permits no more than six renewals, and each renewal must reduce principal by at least 5% of the original loan amount. - Prepayment penalty allowed?
- No
A borrower who returns the full principal by the close of the lender’s next full business day may cancel the loan without interest or fees. Ordinary later early-payoff treatment depends on the applicable interest calculation and contract.
Missouri borrower protections
- Payday principal is capped at $500 under this framework.
- The term is limited to 14–31 days.
- A borrower may cancel without interest or fees by returning the principal before the close of the lender’s next full business day.
- No more than six renewals are allowed, and each renewal must reduce original principal by at least 5%.
- Total accumulated interest and fees over the original loan and renewals may not exceed 75% of the initial loan amount.
- The Missouri Division of Finance provides a public lender-license search.
Missouri loan cost calculator
How to verify a lender in Missouri
Regulator: Missouri Division of Finance.
Payday Lender license for non-exempt lenders making covered unsecured loans of $500 or less
Official sources
- Missouri Division of Finance — Payday Lenders · primary
- RSMo §408.500 — Small Short-Term Loans · primary
- RSMo §408.505 — Term and Charges · primary
- Missouri Division of Finance — Bank & Licensee Search · primary
Last regulatory verification: 2026-09-06. Laws can change; verify current terms and lender status before borrowing. Read our research methodology.