A guide to Payday Loans in Alaska, USA. 

What are the Citation (s) to Payday Loan or Small Loan Laws in Alaska? 

A: The relevant citation regarding Payday Loans in the Alaska State Jurisdiction is Alaska Statute 06.50

Alaska State Payday Loan FAQs:

Q: Are Payday Loans legal in Alaska? 
A: Yes Payday Loans are legal in Alaska. 

Q: What is the Maximum Cash Advance Loan Amount in Alaska? 
A: The Maximum Cash Advance or Payday Loan amount in Alaska is $500. 

Q: What is the Maximum Payday Loan Term in Alaska State? 
A: The Maximum Payday Loan Term in Alaska is not specified, however the minimum loan term is 14 days. 

Q: What is the Maximum Fee for Cash Advance Loans in Alaska?
A: The Maximum Finance Rate and Fees for Cash advance loans in Alaska is $5 + the lesser of $15 per $100 or 15%



Q: What is the Finance charge for 14-day $100 payday loan in Alaska State?
A: The finance charge for a 14-day $100 loan in Alaska is $20. 

Q: What is the APR for 14-day $100 payday loan in Alaska?
A: The APR for 14-day $100 payday loan in Alaska is 520 percent. 

Q: Is there a limit on the number of payday loans I can take at one time? 
A: The number of payday loans you can take at one time is Not Specified. 

Q: How many times can the lender rollover my payday loan in Alaska?
A: The lender can extend (rollover, refinance) a payday loan two times. 

Q: Can I be charged a collection fee for a payday loan?
A: Yes, the collection fee in Alaska is $30 NSF fee; Court costs of up to $700 over the amount of the payment (if disclosed in loan agreement) 

Q: If I cannot repay my payday loan can the lender initiate a criminal action?
A: No, In Alaska a payday loan lender cannot initiate a criminal action if the borrower is unable to pay the loan (unless the check was returned due to closed account). 

Contact the Department Of Financial Institutions

If you have questions about payday loans please contact the Alaska Department of Financial Institutions at:

Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau, AK 99811
Phone: (888) 925-2521
Fax: (907) 465-2549
Regulatory Contact: Patrice Walsh, Financial Institution Examiner

Website: http://www.commerce.state.ak.us/bsc/

Where can I find a payday loan store in Alaska?

You can find the store nearest to your location by simply clicking on this link  loc: Alaska