CLEARBORROW · PUBLISHED NOVEMBER 12, 2026
Payday loans in Michigan: limits and fees
Michigan’s Deferred Presentment Service Transaction Act limits each payday loan to $600 and lets you have no more than two at a time, from different lenders. The fee slides from 15% on the first $100 down to 11% on the fifth and sixth $100 — $76 on $600 — plus a database verification fee, and the repayment date can be no more than 31 days away. A $15 fee on $100 for two weeks is 391% APR.
On this page
The rules
| Rule | Michigan limit |
|---|---|
| Maximum per loan | $600 |
| Loans at once | Two, not with the same lender |
| Fee | 15% of the first $100, 14% of the second, 13% of the third, 12% of the fourth, 11% of the fifth and sixth |
| Term | No longer than 31 days |
| Database | Lenders must check the state database before lending |
Sources: Michigan DIFS ↗, Michigan Attorney General ↗.
Fee table
| Loan | Maximum service fee | Two-week APR |
|---|---|---|
| $100 | $15.00 | 391% |
| $250 | $35.50 | 370% |
| $300 | $42.00 | 365% |
| $500 | $65.00 | 339% |
| $600 | $76.00 | 330% |
Fees from the DIFS formula (our arithmetic matches DIFS’s published examples: $15 on $100, $35.50 on $250, $76 on $600). A database verification fee may be added.
Why it adds up
The Michigan Attorney General gives the example of $100 for two weeks at the maximum $15 fee: a 391% APR before any eligibility-check fee (Michigan AG ↗). Taking a second payday loan to repay the first multiplies the cost.
Check the license and complain
Any business offering payday loans in Michigan must be licensed. Check with DIFS at 877-999-6442 or online, and send complaints to DIFS (Michigan AG ↗).
Cheaper options to compare
- A payday alternative loan from a federal credit union (APR capped at 28%).
- A cash advance app — compare costs with our fee calculator.
- Asking the company you owe for more time or a payment plan.
- If you already owe a payday loan: extended payment plans and getting out of payday debt.
Questions
Can I have two $600 payday loans in Michigan?
DIFS says a customer can have two separate open transactions, each $600 or less, but not with the same lender.
What is the fee on a $300 payday loan in Michigan?
Up to $42 ($15 + $14 + $13), plus any database verification fee.
How long can a Michigan payday loan last?
The repayment date can be no more than 31 days after the loan.
Sources and limits
- Michigan DIFS: deferred presentment FAQ ↗
- Michigan Attorney General: payday loans consumer alert ↗
- CFPB: why a payday loan’s APR is higher than its fee ↗
Sources checked November 12, 2026. Laws change; confirm with your state regulator before borrowing. This is general information, not legal advice. Worked examples are our own arithmetic. How we use sources.