MISSOURI PERSONAL LOAN RATES AND TERMS:

Personal Loans in Missouri:

Missouri Payday Loan Laws and Missouri Loan Regulations

Legal Status: Legal

Citation:Mo. Rev. Stat. §§ 408.500 et seq.


Missouri State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, ChecknGo.com, QLoot.com, SpeedyCash.com
Maximum Loan Amount: $500
Loan Term:14-31 days
Maximum Finance Rate and Fees: Not Specified (No borrower shall be required to pay a total amount of accumulated interest and fees in excess of 75% of the initial loan amount on any single authorized loan for the entire loan term and all authorized renewals. Otherwise, interest is set pursuant to small loan law which provides that parties may set rate by contract.)
Finance Charge for 14-day $100 loan: $75
APR for 14-day $100 loan: 1950%


Debt Limits:
Maximum Number of Outstanding Loans at One Time: No more than $500 to any one lender at one time
Rollovers Permitted: Six (borrower must reduce principal amount of loan by 5% or more upon each renewal)
Cooling-off Period:
Repayment Plan:


Collection Limits:
Collection Fees: NSF fee; Collection costs (including court costs and reasonable attorney's fees) Licensee cannot use a series of ACH transactions to collect a single check.
Criminal Action: Prohibited (Unless check returned due to closed account or stop-payment by maker)


State Regulatory Agencies for Payday Loans:

Regulator: Missouri Division of Finance
Address: Consumer Credit Section, P. O. Box 716 301 W. High Street Jefferson City MO 65102
Phone:(573) 751-3242
Fax:(573) 751-9192
Regulatory Contact: Joe Crider, Supervisor, Consumer Credit
Missouri Division of Finance
Licensee Search
Consumer Services – File a Complaint
Online Resources:
Consumer Credit Laws and Regulations
Predatory Lending

The cost of a personal loan:

The cost of a personal loan

Personal Installment Loan Basic Terms:

  • Loan Amount: $1,000 - $10,000
  • Interest Rate: 25% - 95%
  • Lending Period: 12 Months-36 Months
  • Payment Frequency: Bi-Weekly or Monthly
  • The actual APR will be applied based on credit score and repayment history
  • No prepayment penalties or additional charges for early payments
  • The option to pay the loan in full before the due date and only pay the interest rate for the period the loan was outstanding

Installment Loan Examples:

The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.

Borrowed Amount Loan Period Monthly Payments Total Payable Amount
$2,000 12 Months $199.93 $2,399.16
$4,000 24 Months $234.07 $5,617.68
$6,000 36 Months $271.41 $9,771.12
$8,000 36 Months $361.89 $13,028.04

* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.



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