Alaska Payday & Small-Dollar Loan Laws
Payday loans legal
Alaska permits payday loans up to $500 with a $5 origination fee plus 15% of the loan amount and APR-equivalent finance charges around 435% on a two-week term.
Alaska Lending Overview
Alaska law structures a lending environment where payday loans are legal up to a maximum of $500. For these transactions, state regulations permit lenders to collect a $5 origination fee alongside a finance charge of 15% of the total loan amount. The minimum loan duration is 14 days, though the effective annual percentage rate on a standard two-week loan often reaches approximately 435%. While these short-term options remain available, borrowers are subject to strict limits on the number of concurrent loans they can hold to manage debt cycles.
Residents typically utilize several varieties of credit depending on their immediate financial requirements and credit profiles. Common products include payday loans for small gaps in cash flow, alongside installment loans and larger personal loans for more substantial expenses. Emergency loans serve as a frequent resource for unexpected costs, while storefront and online lenders provide diverse structures for repayment. These products fluctuate in cost and availability based on state-mandated caps and individual borrower eligibility.
Maximum loan amount
$500
Maximum loan term
14+ days
Maximum APR / finance charge
~435% APR
Rollover / renewal rule
2 rollovers allowed
Cooling-off period
None required
Governing statute
Alaska Stat. § 06.50
Who regulates lenders in Alaska
Alaska Division of Banking & Securities
https://www.commerce.alaska.gov/web/dbs/
File a complaint with the regulator above if a lender violates state law. You can also file with the CFPB.
Alaska loan options
Other state loan laws
Reviewed by Darnell Pierce, MBA. Last reviewed January 2026. This page is informational, not legal advice — verify current rules with the state regulator before borrowing.