ALASKA PERSONAL LOANS:

Personal Loans in Alaska:

Alaska Payday Loan Laws and Alaska Loan Regulations

Legal Status: Legal

Citation: Alaska Stat. §§ 06.50.010 et seq.


Alaska State Licensed Online Lenders:
CashCentral.com, CashNetUSA.com, CheckCity.com, SpeedyCash.com
Maximum Loan Amount: $500
Loan Term: Min: 14 days
Maximum Finance Rate and Fees: $5 + the lesser of $15 per $100 or 15%
Finance Charge for 14-day $100 loan: $20.00
APR for 14-day $100 loan: 520%


Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Two (renewals)
Cooling-off Period:
Repayment Plan: Yes


Collection Limits:
Collection Fees: $30 NSF fee; Court costs of up to $700 over the amount of the payment (if disclosed in loan agreement)
Criminal Action: Prohibited(Unless check returned due to closed account)


Where to Complain, Get Information:
Regulator: Alaska Division of Banking and Securities
Address: P.O. Box 110807 Juneau AK 99811
Phone:(888) 925-2521
Fax: (907) 465-2549
Regulatory Contact:
Alaska Department of Commerce, Community and Economic Development
Division of Banking and Securities
Consumer Services – File a Complaint
Online Resources:
Questions Regarding California Deferred Deposit Transaction Law
Predatory Lending Fact Sheet

Online Resources: Deferred Deposit Quick Links


The cost of a personal loan:

The cost of a personal loan

Personal Installment Loan Basic Terms:

  • Loan Amount: $1,000 - $10,000
  • Interest Rate: 25% - 95%
  • Lending Period: 12 Months-36 Months
  • Payment Frequency: Bi-Weekly or Monthly
  • The actual APR will be applied based on credit score and repayment history
  • No prepayment penalties or additional charges for early payments
  • The option to pay the loan in full before the due date and only pay the interest rate for the period the loan was outstanding

Installment Loan Examples:

The table below will display a representation of different loans with an annual interest rate of 35%*. Interest rates are set after assessing each customer's credit worthiness through traditional credit checks.

Borrowed Amount Loan Period Monthly Payments Total Payable Amount
$2,000 12 Months $199.93 $2,399.16
$4,000 24 Months $234.07 $5,617.68
$6,000 36 Months $271.41 $9,771.12
$8,000 36 Months $361.89 $13,028.04

* The interest rate displayed in the examples table above is only representative. Not all customers will be eligible for a loan with the lowest interest rate. The APR and loan amount is determined by several factors such as: credit history, employment history, even state law.



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