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Mississippi Installment Loan

An installment loan is a medium-term loan, usually with a higher principal amount than short-term loans. It is repaid gradually in installments over 5 to 12 months. This loan may be repaid early at any time with no prepayment charges.

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Rates & Terms

Loan Amount

$300 – $2,500

Annual Percentage Rate

249% – 299%

Loan Term

5 – 12 months

Late Fee

10% of the past due amount

Actual loan terms may vary based on applicant's qualifications.

How It Works

  1. Apply online in minutes.

  2. Receive an instant lending decision.* Possible decisions include Approved, Need More Information and Declined. If more information is needed, you may need to send in additional documents like paystubs or other proof of income.

  3. Apply early and receive funds as soon as the same business day, if approved.

  4. Repay over your scheduled loan term. You are free to repay early at any time with no penalty.

What It Costs

The chart below represents illustrative examples of the cost of an $800 loan. Rates and terms vary based on loan amount. Please see your loan agreement for the annual percentage rate (APR) and other terms applicable to your loan. If you have any questions or would like more information, please ask. Make certain the questions that you ask are answered. Make certain you understand the terms and costs of your loan.

If you repaid once a month, you would make six (6) payments of $243.98 and one (1) final payment of $243.85:

APR

288.41%

Finance Charge

$907.73

Amount Financed

$800

Total of Payments

$1,707.73

If you repaid biweekly, you would make 13 payments of $115.91 and one (1) final payment of $115.84:

APR

291.13%

Finance Charge

$822.67

Amount Financed

$800

Total of Payments

$1,622.67

With an actual installment loan, your repayment might look different than the examples above. For instance, you may be able to borrow more money, or have a longer or shorter repayment period. Or your APR might be different, affecting the total cost of credit.

Requirements to Apply for a CashNetUSA Loan

In order to be eligible for any CashNetUSA loan, you must meet our requirements:

21 or older

Verifiable, steady source of income

Active checking account

U.S. citizen or permanent resident

Governing Law

The loan agreement will be governed by the applicable laws of your state. Unresolved questions or complaints should be directed to your state's regulatory agency.

CashNetUSA is licensed in Mississippi by the Department of Banking and Consumer Finance. For information about the current status of our license, visit the NMLS website at http://nmlsconsumeraccess.org/ or the Mississippi Department of Banking and Consumer Finance website at https://dbcf.ms.gov/.

Mississippi Credit Availability Pamphlet

BEFORE YOU SIGN A CONTRACT TO MAKE A LOAN, BE CERTAIN YOU HAVE READ THE LOAN DOCUMENTS SO YOU UNDERSTAND YOUR OBLIGATIONS AND RIGHTS UNDER THE MISSISSIPPI CREDIT AVAILABILITY ACT (“MCAA”)

The following is a list of fees and terms allowable for services that may be offered under the MCAA:

  1. Handling Fee:
    1. Loans up to or totaling not more than $500.00:
      1. A term of 4 to 6 months to repay
      2. Substantially equal payments each month
      3. Up to 25% FEE PER MONTH (amortized for the term of the loan)
    2. Loans totaling $501.00, up to $2500.00:
      1. A term of 6 to 12 months to repay
      2. Substantially equal payments each month
      3. Up to 25% FEE PER MONTH (amortized for the term of the loan)
  2. Late Fee: If you are 10 business days LATE in making any scheduled payment you may incur LATE FEES of up to 10% of the amount you owe for that monthly payment. These late fees may be collected after your final scheduled payment.

YOU MAY PAY-OFF YOUR LOAN AT ANY TIME — WITHOUT ANY PENALTY.

IF YOU PAY-OFF EARLY YOU MAY INCUR LESS FEES.

YOU HAVE ONE (1) DAY TO REVIEW YOUR LOAN AND RETURN THE LOAN PROCEEDS IF YOU DECIDE TO CANCEL YOUR LOAN.

This business is licensed and regulated by the Mississippi Department of Banking and Consumer Finance.

If you have any unresolved problem with a transaction at this location, you are entitled to assistance. Please CONTACT:

Mississippi Department of Banking and Consumer Finance
P.O. Box 12129, Jackson, MS 39236-2129
Phone 1-800-844-2499
For additional information visit: www.dbcf.ms.gov

Terms Explained

Amount Financed

This is the loan amount.

Example: Jane Smith is approved for a $800 loan. This $800 is the amount financed.

Loan Term

Your loan term is the amount of time over which you are scheduled to repay your loan. You may also repay early with no penalty.

Example: Based on her application, Jane will make seven monthly payments. That means her loan term is seven months.

Finance Charge

The finance charge is the dollar amount your loan will cost you, in addition to the amount financed.

Example: Based on her interest rate, amount financed and loan term, Jane will be charged $907.73 in interest as her finance charge.

Total of Payments

This is the sum of the amount financed and the finance charge. It is the total amount you must repay.

Example: Adding together her amount financed and finance charge, Jane’s total of payments comes to $1,707.73.

APR

APR (annual percentage rate) is a measure of the cost of credit, expressed as a yearly rate. Our installment loan APRs fall over a range of 249% – 299%.