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Alaska Payday Loans
Updated November 2026 · By Payday Loans Reviews Editorial Team · Not a lender
Payday loans are legal in Alaska, but only from licensed lenders. The state caps what you can borrow at $500, and you'll have at least 14 days to repay. That $500 limit is a hard ceiling across all your loans combined, not per lender.
The law that governs these is the Alaska Deferred Deposit Advances Act, enforced by the AK Div. of Banking. Costs can run high. On a $500 loan for 14 days, the fee is $80 and you repay $580 total. That works out to an APR of about 417%.
Alaska short-term loan laws
- Max loan amount
- $500
- Min loan term
- 14 days
- Max loan term
- N/A
- Finance charge cap
- 15% of advance + $5 fee
- Max absolute fee
- $80
- Typical APR
- ~435%
- Rollovers (extensions)
- Prohibited
- Simultaneous loans
- Max $500 total limit
- Right to rescind
- Next business day
- Governing law
- Alaska Deferred Deposit Advances Act
- Regulator
- AK Div. of Banking
Alaska at a glance
| Metric | Alaska | United States |
|---|---|---|
| Population | 733,346 | 332.3M |
| Median household income | $91,603 | $85,275 |
| Median rent | $1,389/mo | $1,432/mo |
| Income spent on rent | 27.0% | 31.6% |
| Homeownership | 66.0% | 65.4% |
| Poverty rate | 10.2% | 12.6% |
| Unemployment rate | 6.1% | 5.3% |
| Without health insurance | 11.0% | 8.6% |
| Veterans | 11.2% | 6.5% |
- Max fee on a $500 loan vs. median monthly household income
- $80 = 1.0%
Source: U.S. Census Bureau, American Community Survey, by ZIP code. City and state figures are population-weighted averages of ZIP code data and are approximate.
Alaska in context
- Population rank
- 48th
- of 50 states
- Median household income rank
- 14th
- of 50 states
- Households earning under $25,000
- 11.6%
- ▼ 3.2 pts vs US
- Median home value
- $335,120
- ▼ 14% vs US
- Home value to income
- 3.7×
- A $400 emergency expense
- 1.6 days
- of median household income
What a payday loan costs in Alaska
- Fee on a $500 loan
- $80
- Share of a two-week household paycheck
- 2.3%
- Hours of work at the local median wage
- 3.8 hours
- Rollovers
- Not allowed in Alaska
Example based on the Alaska maximum fee for the maximum loan and local median incomes: two-week paycheck = household income ÷ 26, hourly wage = individual income ÷ 2,080. Actual terms vary by lender.
Getting short-term cash in Alaska
When bills arrive before your paycheck does, our protected service connects you with lenders licensed to work in Alaska.
Complete the short online application, get a fast decision and, upon approval, receive funds in your account as soon as the next business day.
Why borrowers in Alaska use us
- Quick online application In about five minutes, you can complete the simple form from any location at any hour.
- Fast decision Participating lenders with valid Alaska licenses assess your submission immediately as it arrives.
- All credit types considered Having imperfect credit does not mean you are automatically turned away.
- Transparent terms All charges and loan contracts are required to follow the Alaska Deferred Deposit Advances Act.
Alaska disclosure: Cash advances and payday loans of the short-term kind are meant for passing financial tight spots, not as lasting remedies. Alaska law (Alaska Deferred Deposit Advances Act) sets the rates, the terms and the maximum loan sizes. Borrow with caution and read everything before you sign.
Payday loan cost calculator for Alaska
Move the sliders to see what a payday loan would cost under Alaska rules and how it compares with local incomes.
Alaska maximum: $500
Alaska maximum: $16
Rollovers are not allowed in Alaska.
- Fee
- $80
- Total to repay
- $580
- APR
- 417%
- Share of a two-week household paycheck in Alaska
- 2.3%
Estimate only. APR = fee ÷ amount × 365 ÷ term. Lenders may charge less than the state maximum; actual terms vary.
Alaska payday loan answers
How much money can I get through a loan in Alaska?
Borrowers who qualify in Alaska can usually obtain loans from $100 up to $500. The exact amount you are approved for depends on your monthly income, your ability to repay and what Alaska regulations permit.
What are the lowest requirements for submitting a request?
Applying for a loan in Alaska requires the following:
- Be at least 18 years old (the legal age of majority).
- Have a valid government-issued photo ID and proof of residence in Alaska.
- Maintain an active checking account in your name.
- Show proof of a regular, verifiable source of income.
Can I qualify with bad credit or a past bankruptcy?
You could qualify. Many network lenders set traditional credit scores aside and concentrate on your current earnings and whether you can afford repayment now. Approval is never guaranteed.
What is the standard funding speed I should expect?
After a lender approves your application and you e-sign the agreement, funds frequently move to your checking account that same day or the following business day. Timing depends on the specific lender and your bank.
What is the process and timing for repaying my loan?
Statutes allow at least 14 days for repayment. The due date generally falls on your next payday, and the lender automatically withdraws the borrowed amount plus fees from your checking account.