- Payday loans in Hernando follow Mississippi law (Mississippi Check Cashers Act).
- Borrowing $300 at the state maximum costs $65.85 ($21.95 per $100).
- The nearest larger city is Southaven, about 7 miles away.
Hernando at a glance
| Hernando | |
|---|---|
| Population (2024 Census estimate) | 18,542 |
| Change since 2020 | +7.3% (growing fast) |
| County | DeSoto County |
| Size rank among 256 Mississippi places we cover | 23rd |
| Share of Mississippi’s population | 0.6% |
| Nearest larger city | Southaven (about 7 miles) |
| Credit unions headquartered in town (NCUA) | None |
| Other towns within 25 miles | 9 (about 145,907 residents) |
| Typical payday APR statewide (CRL 2023) | 572% |
There is no separate Hernando payday law: Mississippi rules apply here, and any lender serving Hernando residents, online or in person, needs a license from the Mississippi Department of Banking and Consumer Finance.
Credit unions near Hernando
NCUA data (June 2026) shows no credit union headquartered in Hernando or DeSoto County. Many credit unions have branches in other towns or accept members online. Use the NCUA’s Credit Union Locator to find one near you.
Only federal credit unions can offer payday alternative loans (PALs), capped at 28% APR; state-chartered credit unions often have their own small-loan products. Membership rules apply, and only main offices are listed here; find branches near you with the NCUA Credit Union Locator. See how PALs work.
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Payday loan rules that apply in Hernando
In short, Mississippi rules that cover Hernando include: maximum check: $500, so the most you can receive is about $410; maximum fee: $20 per $100 on checks up to $250; $21.95 per $100 on checks of $251–$500; loan term: up to 30 days (28 to 30 days for checks over $250). See the full Mississippi payday loan rules.
What a $300 loan costs in Hernando
The Center for Responsible Lending put the typical APR on a $400 payday loan in Mississippi at 572% (June 2023). For $300 at the state maximum, expect $65.85 ($21.95 per $100). Check any offer with our payday loan calculator.
Other help in DeSoto County before you borrow
Before a payday loan, Hernando residents can usually find something cheaper:
- Local assistance through 211 covering DeSoto County.
- A credit union payday alternative loan (max 28% APR). See PALs explained.
- Your bank’s small-dollar loan, if offered (compare banks).
- A cash advance app for $20–$500 (apps compared).
Towns near Hernando
The nearest larger city is Southaven, about 7 miles away. See all 256 Mississippi cities.
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 Hernando?
Yes. Payday loans are legal in Hernando under Mississippi state law, and lenders must be licensed by the Mississippi Department of Banking and Consumer Finance.
How much does a payday loan cost in Hernando?
At Mississippi’s maximum fee, borrowing $300 costs $65.85 ($21.95 per $100). The typical statewide APR was 572% in 2023.
Where is the nearest credit union to Hernando?
NCUA data shows no credit union headquartered in Hernando or its county. Use the NCUA credit union locator to find branches and online credit unions.
Sources
- U.S. Census Bureau — City and town population totals, Vintage 2024
- U.S. Census Bureau — 2024 Gazetteer files (place locations)
- NCUA — Credit union call report data, June 2026 (FOICU)
- Mississippi DBCF — Payday loans consumer pamphlet
- Mississippi Check Cashers Act
- Center for Responsible Lending — Red Alert Rates: APRs on $400 single-payment payday loans (June 2023)
- CDFI Fund — NCUA payday alternative loans summary