Get Cash in a Moment, MI USA
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Payday Loan Rules in Michigan
Allowed – high-cost payday
| Maximum amount | Up to $600 |
|---|---|
| Loan term | Up to 31 days |
| Rate / fee rule | Tiered service fee: 15%,14%,13%,12%,11%,11% by each $100 tier |
| Regulatory basis | Mich. Comp. Laws §487.2121 et seq. |
Key Rules
- One deferred presentment transaction at a time up to statutory limit
- database fee may apply
Regulatory reference: review the cited regulator or statute summary. State rules can change; confirm current terms before borrowing.
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