Mississippi Maximum Interest Rate: Usury Laws and Legal Limits — Best Proven Guide (2026)

Mississippi maximum interest rate is the answer to “maximum interest rate allowed by law in Mississippi”. This guide gives the Mississippi figures in a dated table, explains in plain words what they mean, walks through the steps, and points to the official forms and free help.

The Mississippi maximum interest rate figures on this page were verified against a dated 50-state compilation and Mississippi sources as of October 2026; the statute named here is where to check them yourself.

What the Mississippi Maximum Interest Rate Means

Usury means charging more interest or finance charges than Mississippi law allows. The legal rate is the default that applies only when a loan or debt has no agreed rate. The contract cap is the separate, higher ceiling a borrower can agree to in writing.

For ordinary written loans it is generally the greater of 10% a year or 5% a year above the Federal Reserve discount rate on 90-day commercial paper. Confirm the current text with the statute or an attorney.

The Mississippi maximum interest rate Figures

The Mississippi maximum interest rate figures on this page were verified against a dated 50-state compilation and Mississippi sources as of October 2026; the statute named here is where to check them yourself.

Who the Mississippi Maximum Interest Rate Applies To

The general cap covers ordinary loans and credit agreements that no more specific law governs. Banks chartered in other states and national banks can generally charge the rate their home state allows, under federal law (12 U.S.C. 85 and 1831d). Licensed consumer lenders (small loan, title pledge and check-cashing/payday companies) run under their own Mississippi laws: the Small Loan Regulatory Law (Miss.

Code 75-67-101 and following), the Title Pledge Act (75-67-401) and the Check Cashers Act (75-67-501). Those laws allow higher charges. The same section also allows higher agreed rates on business-entity loans and on larger written obligations (recent versions use a $2,000 principal threshold), so check the version in effect on the loan date.

Credit Cards and the Mississippi Maximum Interest Rate

Most credit cards come from national banks or banks based in other states. Federal law lets those banks charge the interest rate allowed in their home state and “export” that rate to cardholders anywhere, Mississippi included. That is why a card rate well above the Mississippi cap is usually legal. The Mississippi limit generally matters only for cards or credit lines from lenders that Mississippi law actually governs.

What Happens When a Lender Breaks the Mississippi Maximum Interest Rate

When a loan breaks the cap, the borrower may be able to recover the excess interest or more, depending on the statute, and charging above a criminal threshold can be a crime.

How to Check a Loan Against the Mississippi Maximum Interest Rate

1) Find the APR and finance charge on the loan contract or Truth in Lending disclosure. 2) Note the loan type, the amount, whether the borrower is a person or a business, and who the lender is (licensed consumer lender, bank or individual). 3) Find which Mississippi law governs that loan type. 4) Compare the APR with that law’s limit as of the loan date.

5) Confirm with the statute, the Department of Banking and Consumer Finance or an attorney.

Where to Report a Loan Above the Mississippi Maximum Interest Rate

The Mississippi Department of Banking and Consumer Finance licenses consumer lenders and takes complaints on its official form, by mail to P.O. Box 12129, Jackson, MS 39236-2129, by fax at (601) 321-6933, or by calling (800) 844-2499. Complaints about banks and other financial companies can also go to the federal Consumer Financial Protection Bureau at consumerfinance.gov/complaint.

Common Mistakes With Mississippi maximum interest rate

The most common mistake is missing a deadline: court and creditor deadlines run whether or not you have read the papers, and a missed one usually cannot be undone. The second is relying on an old article or a friend’s experience in another state — the rules on this page differ from state to state and change often, which is why every figure here is dated.

The third is not keeping copies: every letter, form, receipt and bank statement may matter later, so keep them together and note the date you received each one.

Free Help With Mississippi maximum interest rate in Mississippi

You do not have to handle this alone or pay to get answers. The Mississippi court self-help center explains the forms and the steps, and court clerks can tell you where and how to file, although they cannot give legal advice.

Legal aid organizations represent many people at no cost when income is limited, and the Mississippi bar’s lawyer referral service can connect you with a lawyer for a low-cost first consultation. The Consumer Financial Protection Bureau accepts complaints about lenders, banks and debt collectors nationwide.

How We Verify the Mississippi maximum interest rate Figures

Every figure in the table above comes from our 50-state data file, built by reading the Mississippi statute or an official compilation of it, and each one carries the month we last checked it. Our writers do not change those figures; they explain them. When the law changes, the figure is updated and the date moves.

If something on this page no longer matches the statute, the statute controls — and we want to hear about it.

Under the same section, corporations, partnerships and similar entities may agree to higher finance charges and cannot raise usury as a claim or defense. Larger written obligations (over $2,000 in recent versions) may carry any agreed finance charge, and the borrower and any guarantors are generally barred from claiming usury on them. Mississippi also has separate, much higher limits for licensed payday, title pledge and small-loan products.

Confirm current figures with the Department of Banking and Consumer Finance.

Next rung: the Mississippi payday loan page covers the short-term loans that have their own caps.

Mississippi Maximum Interest Rate FAQ

What is the maximum interest rate allowed by law in Mississippi?

Without an agreement: 8% per year.

Official Mississippi Sources & Resources

• Statute and the Conference of State Bank Supervisors 50-state usury survey (verified by each state regulator) — maximum legal interest rate: https://www.csbs.org/50-state-survey-consumer-finance-laws
• Statute and the Conference of State Bank Supervisors 50-state usury survey (verified by each state regulator) — maximum legal interest rate: https://facts.csbs.org/consumer-finance-law/dev
• Mississippi statute / opinion: https://law.justia.com/codes/mississippi/title-75/chapter-17/general-provisions/section-75-17-1/
• Mississippi Department of Banking and Consumer Finance – Consumer Complaint Form: https://dbcf.ms.gov/wp-content/uploads/2023/10/Complaint-Form.pdf
• Consumer Financial Protection Bureau: consumerfinance.gov

This Mississippi maximum interest rate guide was last verified against official Mississippi sources in October 2026. Rules change — confirm the current rule with the statute or a licensed attorney.

More Mississippi Money Rights Guides

• Mississippi Payday Loan Laws
• Mississippi Judgment Expiration
• Money Rights Guides for All 50 States

Disclaimer: This guide is general information, not legal or financial advice. Bonus Bank Daily is an independent educational resource — not a law firm, not a bank, not a debt collector and not a government agency. Judgment, levy, interest-rate and debt rules change — every figure here carries the date we verified it.

Confirm the current rule with the statute, the court clerk or a licensed attorney in your state before you act.