- Payday loans are legal in Michigan under the Deferred Presentment Service Transactions Act (Act 244 of 2005).
- The typical APR on a $400 payday loan in Michigan was 356% (CRL, June 2023, from state regulator data).
- Borrowing $300 at the maximum fee costs $42.
Payday loan rules in Michigan
| Rule | Michigan |
|---|---|
| Maximum loan | $600 |
| Maximum fee | 15% of the first $100, 14% of the second, 13% of the third, 12% of the fourth, 11% of the fifth and sixth ($76 on $600) |
| Loan term | Up to 31 days |
| Database | All licensed lenders check a statewide database |
Rules checked 2026-10-04. Laws change, so confirm current limits with the Michigan Department of Insurance and Financial Services (DIFS).
What a payday loan costs in Michigan
The Center for Responsible Lending found the typical APR on a $400 single-payment payday loan in Michigan was 356%, based on data from the state regulator (June 2023). Under the state’s fee limits, borrowing $300 costs $42. Use our cost calculator to turn any offer into an APR.
Most payday loans are due in one payment on your next payday. If repaying leaves you short again, ask about an extended payment plan and avoid renewals.
Need $100–$1,000 before payday?
- One free request, many lenders
- Bad credit and benefit income considered by many lenders
- See the APR and total cost before you sign
PaydayEase is not a lender. Requests go to lenders in our network; approval, rates and terms are set by the lender. Rates & fees
How to check a lender in Michigan
- Make sure the lender is licensed by the Michigan Department of Insurance and Financial Services (DIFS). Many lenders can also be looked up on NMLS Consumer Access.
- Get the APR and finance charge in writing before you sign. Federal law requires them.
- Be careful with online lenders that say Michigan law does not apply to them because they are tribal or offshore.
- File complaints with the state regulator and the CFPB.
Cheaper options in Michigan
- Credit union payday alternative loans (PALs): $200–$2,000 at no more than 28% APR. Search for a federal credit union in Michigan that offers them. See how PALs work.
- Your bank’s small-dollar loan, if it offers one. See bank small-dollar loans.
- Cash advance apps for $20–$500 based on your direct deposits. See apps compared.
- 211: call or text 211 for local help with rent, utilities and food.
Michigan cities
Local guides for 506 Michigan cities and towns, with credit unions, nearby towns and the rules that apply.
- Payday loans in Detroit
- Payday loans in Grand Rapids
- Payday loans in Warren
- Payday loans in Sterling Heights
- Payday loans in Ann Arbor
- Payday loans in Lansing
- Payday loans in Dearborn
- Payday loans in Livonia
- Payday loans in Troy
- Payday loans in Farmington Hills
- Payday loans in Westland
- Payday loans in Flint
- Payday loans in Wyoming
- Payday loans in Rochester Hills
- Payday loans in Southfield
All 506 Michigan cities, A to Z
Need cash before payday?Send one free request to our lender network. We are not a lender; offers and rates come from lenders.
Request a loanFrequently asked questions
Are payday loans legal in Michigan?
Yes. Payday lending is legal in Michigan under the Deferred Presentment Service Transactions Act (Act 244 of 2005) and is regulated by the Michigan Department of Insurance and Financial Services (DIFS).
What is the typical payday loan APR in Michigan?
The Center for Responsible Lending reported a typical APR of 356% on a $400 payday loan in Michigan, using state regulator data (June 2023).
Where can I complain about a payday lender in Michigan?
Contact the Michigan Department of Insurance and Financial Services (DIFS) and file a complaint with the Consumer Financial Protection Bureau.