Missouri Payday Loan Rules and Costs
Payday loans in Missouri are small, short-term loans that give you up to $500 for 14-31 days. Missouri law limits the fee to 75% of what you borrow, and you can't have more than $500 in total loans with the same lender at once. Approval focuses mainly on your income rather than lengthy credit reviews, making these loans helpful for emergency cash needs when other credit options aren't available.
When applying through 24CashFast, our system connects your single application with multiple licensed Missouri lenders who follow these state regulations, streamlining your search for emergency funding while respecting Missouri's borrowing limits.
Applicant Requirements
To qualify for a payday loan in MO, you must be:
- At least 18 years old
- A Missouri resident
- Have a regular income
- Own an active checking account
- Have a phone and an email
Key Loan Terms and Limits
Missouri Revised Statutes §§ 408.500–408.506 set the boundaries that every licensed payday lender must follow:
|
Loan Feature |
Missouri Rule |
|
Maximum loan amount |
$500 |
|
Minimum term |
14 days |
|
Maximum term |
31 days |
|
Maximum fee or interest |
75% of the original principal |
|
Renewals (rollovers) |
Up to 6, you must pay at least 5% of the principal each time |
Say you borrow $200. The lender can charge no more than 75% of that—$150—in fees. Your total repayment will be $350 on the due date. If you renew, you must pay at least $10 toward the principal plus the new fee. The costs mount rapidly with rollovers, making them an expensive option, so borrow only what you can repay from your next paycheck.
A Faster Way to Apply: The 24CashFast Advantage
Missouri licenses protect you by requiring clear fee disclosures, limiting rollovers, and banning hidden penalties. Finding a reputable lender on your own means contacting companies one by one, completing multiple applications, and comparing offers manually. 24CashFast streamlines this process:
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Fill out one secure application—usually takes under five minutes.
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We instantly route your request to a network of licensed Missouri lenders.
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You review any approval offers online. If you like one, e-sign the agreement.
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The lender deposits funds—often the same business day if you sign early enough.
This single-submission process saves you time, keeps your data safe, and can raise your approval odds because several lenders, not just one, review your request.
Get Paid Today with Early Approval
Many lenders on our network offer same-day funding when you accept the loan before their daily cutoff time, commonly noon Central Time.
If you sign later, money typically arrives the next business day. Ask the lender for its exact cutoff so you can plan for urgent expenses such as medical copays or car repairs.
Why Borrowers Trust 24CashFast
Our service is free to you. We earn a referral fee from lenders, so you pay the same rates they post publicly. You receive:
- A single, fast application
- Real-time offers from multiple licensed lenders
- No obligation to accept an offer you do not like
- A secure platform that keeps your personal data encrypted
Apply now, compare your options, and get back to what matters—without making extra trips or filling out stacks of forms.
FAQ's
Yes, payday loans are completely legal in Missouri. The state has laws and regulations in place to govern payday lending, including a maximum loan amount of $500 and a loan term of 14 to 31 days.
In Missouri, you can get one payday loan at a time and have up to 6 roll-overs, with an obligation to reduce the principal amount by 5% before each renewal.
In Missouri, residents from all towns and cities, including but not limited to Kansas City, St. Louis, Springfield, Columbia, Independence, and Lee's Summit, can apply for an online payday loan. As the process is conducted online, it's accessible to anyone with internet access, regardless of their location within the state.
In Missouri, the statute of limitations for payday loan debt is five years if it has a verbal contract and ten years if it has a written contract.
In Missouri, the maximum loan amount for payday loans is generally limited to $500.