How to Compare Loans in Alaska
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Online Loans in Alaska
We've seen a decline in the number of unsecured loans that banks provide in the past few years. While it may be challenging to get a personal loan from a bank, you could still get financing by taking a payday loan.
Compare Alaska USA loans with our loan comparison tool above, or read more about online payday loan laws in Alaska and the role of credit unions such as the AlaskaUSA Federal Credit Union below.
The Advantages of Online Alaska Loans
Alaska Payday Loan Laws
Pursuant to the Alaska statute legislation, cash advance and payday loans are legal in the state of Alaska.
Alaska residents can pursue their options from storefront lenders and online lenders. There are high rates of approval for those who are seeking a more convenient and fast route to payday lending.
Alaska has general laws and guidelines for online payday loans:
- The maximum loan amount is $500
- Finance charges include 17.5% plus a non-refundable fee of $5
- The borrower must be permanently employed or have a steady source of income
Collection Laws
Borrowers of Alaska installment loans will be charged a one-time fee of $30 if checks have to be returned due to insufficient funds.
Lending companies do not have the right to file criminal actions against customers who have defaulted payment.
The only exception to this rule is when there is clear evidence of the borrower trying to defraud the lender.
For instance, presenting already closed bank accounts for checks to be issued.
Fees and charges that Alaska cash advance loans come with include finance rate, rollover fees, and collection fees.
Requirements for an Alaska Payday Loan
- Be at least 18 years of age
- Have a regular and steady income
- Be an American citizen or a permanent resident
Get the Loan You Need
An online personal loan can help when you need cash for large purchases or unplanned expenses.
Alaska Payday Loan Regulations
| Legal Status | Legal |
| Interest Rate (APR) | 435%* |
| Max. Loan Amount | $500 |
| Min. Loan Term | 14 days |
| Max. Loan Term | Not specified |
| Number of Rollovers | 2 |
| Finance Charges | 15% of the amount advanced |
| Statute of Limitations | 3 years from the last payment |
Payday loans can be taken for the period not less than 14 days with the maximum finance charge of 15% for every $100 and 435%* APR. A cooling-off period of 14 business days should pass before a new loan. Any NSF fees are prohibited.
Payday Loans Debt Limits
The maximum loan amount a borrower can have in Alaska is $500 for each loan.
A consumer is legally allowed to have as many payday loans as they wish as long as each loan does not exceed $500.
If due to an unforeseen occurrence, a consumer cannot repay on the due date, a rollover is accepted. A lender is permitted to perform a rollover only twice.
Why Compare Alaska Loan Rates at Financer.com
About Alaska USA Federal Credit Union
The Alaska Federal Credit Union was founded in 1948 and has members in all 50 US states. It has branches in Alaska, Washington, California, and Arizona, offering personal loans, mortgages, insurance, and investment management.
Alaska USA loans are available for members and this includes credit lines, signature loans, and pledge loans.
Credit cards from Alaska USA Federal Credit Union have no annual fees, low rates starting at 10.5% APR, with no penalty fees. You can also benefit from credit card rewards and redeem points for merchandise and travel.
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Compare Alaska Loans at Financer.com
Financer.com helps you compare the best personal loans in Alaska and get the best loan rates from leading lenders.
We look for lenders that offer full transparency and have a long track record of successful lending and satisfied customers. We are always improving our comparisons, but are confident in what we can bring to market, and we know you will be as well.
Use our free loan comparison tool to find the right personal loan in Alaska and take the guesswork out of doing all the legwork yourself.
Alaska Loan FAQs
Are payday loans legal in Alaska?
Yes. Payday loans are permitted in Alaska, although they are limited to $500 per loan.
How much can I borrow with Alaska loans?
Personal loan rates and terms will vary by lender and also depends on your credit profile. Typically, personal loans are available up to $50,000 but payday loans are limited to $500 per loan.
How do I apply for a loan in Alaska?
Start by comparing lenders online to find the best loan rates in Alaska. At Financer.com we offer a free loan comparison to help you save more, and find the best lender for your specific needs.
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