Payday Loan Rates & Terms in Michigan & Mississippi
Review state limits and maximum-fee examples before requesting a loan. These calculations explain costs; they are not a quote from X-tra Cash or another lender.
Sources checked November 6, 2026. Confirm the actual lender’s licence, fee schedule and agreement.
Michigan Rates & Terms
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Amount, term and fees
Michigan permits up to $600 in principal for a deferred-presentment transaction, with a term of 7–31 days. The maximum service fee uses graduated tiers of 15%, 14%, 13%, 12%, 11% and 11% for successive $100 portions. A permitted $2.40 database verification fee may also be charged.
The separate $1 regulator transaction fee cannot be passed on to the consumer.
Michigan maximum-fee illustrations| Cash received | Fee | Total repayment | Days | APR |
|---|
| $100.00 | $17.40 | $117.40 | 14 | 453.64% |
| $200.00 | $31.40 | $231.40 | 14 | 409.32% |
| $250.00 | $37.90 | $287.90 | 14 | 395.24% |
| $300.00 | $44.40 | $344.40 | 14 | 385.86% |
| $400.00 | $56.40 | $456.40 | 14 | 367.61% |
| $500.00 | $67.40 | $567.40 | 14 | 351.44% |
| $600.00 | $78.40 | $678.40 | 14 | 340.67% |
Illustrations assume one repayment and exclude contingent charges. Michigan examples include the permitted $2.40 database fee. Actual lender terms may differ.
Repayment and additional charges
Check the due date, payment method, returned-payment charges and repayment-plan rights in the agreement. If repayment may be difficult, contact the lender before the due date and consult your state regulator.
Michigan DIFS rules · Database verification fee
Mississippi Rates & Terms
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Cash received and check total
Mississippi limits the total check amount, including the fee, to $500. DBCF’s example is $410 cash plus a $90 fee. A check above $250 has a 28–30-day term; a check of $250 or less can have a term up to 30 days.
The maximum fee is $20 per $100 advanced for a check total up to $250, or $21.95 per $100 advanced for a check total above $250. The tier follows the check total, not just the cash received.
Mississippi maximum-fee illustrations| Cash received | Fee | Total repayment | Days | APR |
|---|
| $50.00 | $10.00 | $60.00 | 14 | 521.43% |
| $100.00 | $20.00 | $120.00 | 14 | 521.43% |
| $150.00 | $30.00 | $180.00 | 14 | 521.43% |
| $200.00 | $40.00 | $240.00 | 14 | 521.43% |
| $250.00 | $54.88 | $304.88 | 28 | 286.16% |
| $300.00 | $65.85 | $365.85 | 28 | 286.13% |
| $400.00 | $87.80 | $487.80 | 28 | 286.13% |
| $410.00 | $90.00 | $500.00 | 28 | 286.15% |
Illustrations assume one repayment and exclude contingent charges. Amounts and fees are rounded to cents. The $410/$90 illustration follows DBCF. Actual lender terms may differ.
Repayment and additional charges
Check the due date, payment method, returned-payment charges and repayment-plan rights in the agreement. If repayment may be difficult, contact the lender before the due date and consult your state regulator.
DBCF consumer pamphlet · Mississippi Check Cashers Act
Information to Have Ready
Read the form and lender’s requirements before providing information. A lender may request identification, income and bank-account details. Do not send sensitive documents to a contact you have not verified.
Customer Documents
Start a request · Company and licence records
