Payday loans in Alaska
Deferred deposit advances are what Alaska calls payday loans; lenders licensed under AS 06.50 can legally provide them.
- Payday lending
- Allowed
- Max cost
- $20.00 per $100 borrowed
- Top amount
- At any one point, the outstanding amount is limited to $500
At that cap, a $100 loan over 14 days can carry $20.00 in fees: $120.00 back in total, close to 521% APR.
Are payday loans legal in Alaska?
Yes, the Alaska Deferred Deposit Advances Act allows licensed lenders to offer payday loans in Alaska. The maximum you may borrow at once is $500, and every loan must last at least 14 days. A lender may charge a nonrefundable five-dollar opening fee, plus whichever is less: no more than $15 for each $100 borrowed, or 15 percent. On a $100 loan, the cost is $20. Two renewals in a row are allowed, then you must pay the whole loan back.
Even lenders outside Alaska must have a state license plus a separate one for every website they use. Confirm the license for that specific website by checking with the Alaska Division of Banking and Securities before you apply. You can ask for a payment plan if you fall behind on payments. A lender cannot sue you for an unpaid loan without first offering up to six months to repay at no extra cost. At signing, you only need to pay at least five percent.
- Though the Legislature passed SB 39 in 2025 to cap payday loans at 36% APR, the governor vetoed it on 24 June 2025.
- Out-of-state lenders are included in the rule that requires online lenders to get a separate Alaska licence for each website.
- Lenders may add a $5 origination fee in addition to the $15 per $100 charge.
- Before a lender sues, they must offer a payment plan lasting up to six months at no extra cost.
- Every loan must last at least 14 days, and renewals also require a minimum term of 14 days.
Alaska payday loan laws
- Law in force
- Alaska Deferred Deposit Advances Act
- Cited as
- Alaska Stat. 06.50.010 through 06.50.900
- Fees under the law
- an origination fee that is nonrefundable and capped at $5, plus the smaller of a fee up to $15 for every $100 advanced or 15 percent of the advance
- Most you can borrow
- At any one point, the outstanding amount is limited to $500
- How long a loan runs
- 14 days
- Rollovers
- You may renew no more than two times in a row, after which you must repay the advance completely.
- Loans you can hold at once
- One borrower cannot have more than $500 outstanding at one time, even across different locations of the same licensee.
- Repayment plan
- Before suing on a default, a lender must offer a plan to pay over up to six months, requiring at least 5% at signing with no extra fee.
- Installment lending limits
- For loans up to $25,000, the Small Loans Act sets 3% a month on the first $850 of balance. The next band, $850 to $10,000, is 2% a month; above $10,000, the rate comes from the contract.
Also checked against codes.findlaw.com. Full statute text.
Online lenders that list Alaska
Nine companies we track say they lend in Alaska: 3 online installment lenders, 5 tribal lenders and 1 loan broker.
| Lender | Kind | Posted APR |
|---|---|---|
 NetCredit | Installment | 34.99% to 99.99% |
 OppLoans | Installment | 99% to 195% |
 Rise Credit | Installment | 60% to 299% |
 Viva Payday Loans | Broker | Partner lenders quote 4.99% to 1,386% |
Tribal loans in Alaska
Anyone offering payday loans in Alaska must hold a licence, even if based outside Alaska, and each website needs its own separate licence.
On the immunity claim tribal lenders make, see are tribal loans legal.
Five tribal lenders we track list Alaska as a state they lend in. Three of the five publish an APR, from 73.7% to 725%.
| Lender | Posted APR |
|---|---|
 Mobiloans | 73.7% to 405% |
 Spotloan | 99% to 490% |
 BrightLending | 325% to 725% |
 MaxLend | Not published |
| American Web Loan | Not published |
Need cash in Alaska? Ask about cheaper routes
This line reaches a debt and loan options specialist. We are not a lender and cannot reach any loan account.
Not calling today? Get the cheaper options for your state by email
Alaska loans with no credit check
Installment loan rates: For loans up to $25,000, the Small Loans Act sets 3% a month on the first $850 of balance. The next band, $850 to $10,000, is 2% a month; above $10,000, the rate comes from the contract.
See no credit check loans: the checks lenders still run, and the price.
Verify a lender's license in Alaska
- Look the lender up on the license list before you hand over any bank details.
- Lenders here answer to the Alaska Division of Banking and Securities (Department of Commerce, Community, and Economic Development).
- Had trouble with a lender? Report the lender.
Sources for Alaska
- Payday lenders get licensed and checked by the Division.; All licensing goes through NMLS.commerce.alaska.gov
- The fee limit is a $5 origination charge plus $15 per $100 or 15%, taking the lower amount.; The cap equals 15% of the advance if that amount is the smaller one.law.justia.com
- At any one time, one borrower may have no more than $500 outstanding.law.justia.com
- The term for any loan cannot be shorter than 14 days.law.justia.com
- Each renewal must run at least 14 days, and you can only do this two times consecutively.law.justia.com
- Before suing for a default, the lender has to offer a payment plan lasting up to six months.law.justia.com
- Lenders operating from outside Alaska still need a licence.; Each website or location needs its own separate licence.law.justia.com
- Small Loans Act rates start at 3% monthly on the first $850 for loans up to $25,000.law.justia.com
- As of 24 June 2025, SB 39, the bill for a 36% cap, had been vetoed.akleg.gov
- You can send complaints to the Division by mail or through its web portal using the official complaint form.commerce.alaska.gov
- The fee cap was checked a second time against the FindLaw version of 06.50.460.codes.findlaw.com