Payday Loans in Alabama

Payday Loans in Alabama

Need Money Fast?

Anyone can find himself in urgent need of money before payday, and there is no way to borrow money from friends. In this case, one can use payday loans, and short-term credits for small amounts of money that need to be paid back before the next paycheck. 

Since these credits are legal in the state, many financial institutions are licensed and willing to lend you cash even if you have a bad credit score. 

Generally, you can get payday loans from $100 to $500 for 10 to 31 days. However, in this case, the maximum annual interest rate reaches 36% to 456.25%. 

You must be officially employed, a U.S. citizen over 19 (a state requirement), and provide your address and sometimes Social Security Number to receive a loan.

Best Payday Loans in Alabama

We have analyzed all the financial institutions that provide payday loans online in Alabama and selected the top 5 most popular ones to show you what loan terms you can get.


paydaysay loans

This platform is for borrowers who want to take out payday loans online in Alabama. It does not lend you money but simply helps you find a lender within minutes. 

As the company is an intermediary, you cannot say in advance what rates and amounts you will be able to get through it. However, on average, payday lenders offer small credits of $100 to $500 at 60% to 450% APR. These credits last 10 to 31 days, usually until you get your paycheck. 

The PayDaySay app is free; you don’t have to pay for a monthly subscription. Unfortunately, this company does not have an office in Alabama, but you can get money 24/7 from any device at this website

The platform has many advantages: 

  • You’ll get money within 5 minutes to 24 hours.
  • It cooperates with many financial institutions, so it will be easy for you to find a lender.
  • You can get money without checking your credit history.

But it has two disadvantages. First, the app only works on iOS; you must use the website if you have an Android. Second, the platform acts as an intermediary, which means you will solve all problems and disputes directly with the lender, not with the company’s representatives. 

Overall, it is an excellent and reliable option for those who want to get a small credit quickly.


moneymutual loans

Similar to the previous platform is a website where you can get a credit from $100 to $500 in 24 hours. The company works with 150+ lenders so that you can obtain money regardless of your credit history. In addition, MoneyMutual approves 95-99% of borrowers within 5 minutes of applying, so you can be sure to get the money. 

While some lenders may check your credit history, it won’t affect it. They only do this to see what interest rate they can offer you. There are no minimum credit requirements with MoneyMutual, but you must earn more than $800 per month to qualify for credit. 

The company has been operating for over 12 years, and over 2 million people have used its services. Unfortunately, it does not have an office in AL, but you can always get cash at this website

In conclusion, this company, like the previous one, is best for those who want to take out a small credit for a couple of weeks and don’t want to do their research. 


cashusa loans

You may consider this company if you want to get a loan for more than $500. It offers low interest rates for short-term credits and larger installment credits up to $10,000. 

If you urgently need a small loan, such as $1,000, you can get it for three months to 3 years at a 7% to 36% interest rate. 

CashUSA will not check your credit history; the only requirements are to be an employed resident of the United States over 19 years old with a monthly salary of more than $1000.

The only disadvantage is that large credits can take up to a week to be deposited into your account. However, if you consider it solely for these credits, it is excellent; amounts up to $5,000 can be received within 1-2 business days. 

If you want to come to the office and talk to the company’s representatives, you can find it at 104 6th St S Oneonta AL. And if you’re going to get a loan, you can use the website

This company was founded in 1997, so you may not doubt its reliability. It is an excellent option if you want short-term credit at a low-interest rate. 


maybeloan loans is a platform where you can find hundreds of individuals and companies willing to lend you money. However, like the first two companies, it provides only information services, so you will have to solve all disputes and problems that may arise directly with the lender. 

Platform users note that the company has poor support – its phone number is absent from the website, and emails can take several days to be answered by its team. Another company drawback is the high annual rate, from 100% to 400%. Your terms will depend on the size of your income, your history of using the application, and the loan size. 

You can borrow from $200 to $1,000 through this platform for 7 to 28 days. In addition, 72% of users consider this company reliable; it was established more than three years ago.

The platform does not have an office in the state, so you can only get a loan in Alabama online at It is better not to use this company if you have the option to borrow money at a lower interest rate elsewhere. Despite its popularity, it is not the best option. 



One of the companies with the widest variety of credits is ZippyLoan, where you can get from $100 to $500 for up to 4 weeks. 

The company does not check your credit history and has no income requirements. Besides, it has flexible repayment terms that allow you to avoid late fees. However, it’s not always easy, as users say they can’t contact the platform. The marketplace does not solve any problems; you can communicate only with the lender. 

Here you can get credit with interest rates ranging from 36% to 400%. Unfortunately, this company has the longest time to confirm your application, so sometimes it takes 24 to 72 hours for the money to arrive in your account.  

To get this credit online, you should go to its website and provide your personal information, including an active bank account, Social Security number, and a document confirming your monthly income.

In general, you should only use this company’s services if you have a meager income and can’t get money on the platforms listed above. 

Yes, such loans are legal according to the state’s law. However, you must understand that this is the most dangerous type of borrowing because of the high-interest rates, the short repayment, and the absence of credit checks. Often people who get such loans are caught in an even worse financial situation called a credit trap. 

Because of this, the state is adopting measures to help state residents avoid a poor financial situation because of credit. They include:

  • Only residents over 19 can get loans in AL, while other states usually allow all 18-year-olds.
  • You can only get one such credit from a financial institution. You can consider getting the next one when you pay it off.
  • Payday loans online in Alabama can only be granted for 10-31 days. In addition, the maximum interest rate on them must be 456.25%, and lenders can charge a fee of $15 for every $100 borrowed.
  • Local lawmakers are already considering an initiative to reduce the number of credits state residents can take out in one calendar year.

Why Might You Need Alabama Payday Loans Online?

They are usually used in emergencies; for example, when a car breaks down, you must pay medical or utility bills, buy food or go on an urgent trip. 

However, it is the most expensive loan imaginable – Americans spend $4 billion a year to repay the interest on these credits. 

Therefore, the criteria for a situation where you can take out such short-term credits are: 

  • Urgent need for money;
  • Lack of alternatives;
  • Stable income and the confidence that you will pay back this credit as soon as you get your paycheck.

If you are missing at least one of these points, try to reject the idea of taking out a payday loan.  

Terms for Payday Loans in Alabama

Local lawmakers are very concerned about the number of people who default on such loans and fall into the credit trap. Because of this, they impose various restrictions designed to help people deal with such loans. For example, you can only take out one such loan, and until you pay it off, you cannot get the next one.

In addition, not all companies have the right to give out such loans – in AL, they are legalized specifically to restrict the range of platforms that provide these services and put an age limit of 19 years for borrowers.   

In general, the conditions for Alabama payday loans online are as follows. 

Loan Amounts

By law, such credits are from $100 to $500. The logic behind this is simple. You want to take out a $5,000 loan. Everyone knows that credits are short-term, so your repayment period is four weeks, and the interest rate is 169%. 

In the end, four weeks after you have the money, you will need to pay back not $5,000 but $5700. This is a lot, and since people usually take these loans with bad credit history and income of around $1,000, they simply can’t pay the money back on time. 

That’s why the maximum possible amount of payday loans online in Alabama is $500. 

Loan Terms

Usually, financial institutions give payday credits until your next paycheck – that is, for 1-3 weeks. In Alabama, however, the maximum term by law is slightly longer; in this state, you can take out such a credit for 10-31 days.

As we said above, the main factor in the decision to receive money is the ability to pay it back. But what to do if you don’t have one? 

The first and best option is to talk to your lender. Very often, they are willing to make concessions and change the payment date by a few days. Some may agree to extend the loan term, but only for an additional fee.

Before you take out a loan, look for information in the contract about what will happen if you do not pay back the money on time. Sometimes the hidden fees and late payment penalties cause people to fall into the credit trap.

Loan Rates

The most important criterion in any credit is the interest rate because it determines how much money you have to pay back. Therefore, always try to choose the lowest interest rate possible. 

You can get payday loans online in Alabama at 36% to 456.25%. To better understand what this involves, let’s calculate how much a 50% and 150% credit will cost. 

Let’s say you want to borrow $500 for a month. The 50% and 150% is the annual rate, which means that to calculate how much money you will need to pay back in a month, we have to divide the 50% and 150% by 12 months. 

In the first case, a month after taking the loan, you will need to pay back the $500 you borrowed, and 50/12=4.2%, which is another $20. If the financial institution does not require you to pay origination fees or other fees, then the $20 is the cost of the loan. 

In the second case, a month after taking out a loan, you will have to pay the same $500, and 150/12=12.5%, so another $62.5. In this case, the price of the credit is three times higher. This is much more expensive than the average short-term loan, which can be taken out at 10-20%. 

This is why such credits should be used rarely, and you should only take them if you have an urgent need for money and a stable income. Otherwise, paying back the total amount in such a short period may be difficult. 

Pros and Cons of Payday Loans in Alabama

The pros of them in AL are as follows:

  • Taking out a payday loan in Alabama online is safe because it is legal, as officially licensed financial institutions give them.
  • In other states, you can get a credit at 2200%, while in AL, the maximum rate allowed is 456.25%.

At the same time, there are two serious drawbacks: 

  • You must be 19 or older to get a loan in Alabama online. In other states, 18-year-olds are allowed.
  • You can only get one payday credit by law. Also, there may be a law in the coming years limiting the maximum number of credits you can take out in a year.

What Will Alabama’s Payday Loan Cost?

To calculate how much the credit will cost you, you need to know the primary conditions: 

  • The time of repayment of the loan;
  • The amount of money borrowed;
  • APR.

Let’s say you decide to borrow $300 for three weeks at an APR of 200%. 

We know the $300 borrowed will have to be paid back in 3 weeks. In addition, some banks may ask for fees for using services, but we will not count them in this case because they can be avoided.

Now let’s calculate the interest. APR is the annual rate on a loan, so we need to divide our 200% by 54 (weeks per year) and multiply by 3 (the three weeks we took the credit for). This way, we will pay 11.1% of the borrowed amount in 3 weeks. 

So 11.1% of $300 is $33.3. The credit cost of the credit is $33.3.

You can calculate your terms similarly or use the calculator on the platform’s website where you want to take the loan. 

Alabama Payday Loans Online if the Credit Rating Is Poor

One of the main advantages of these credits is that they are given to everyone. Sometimes financial institutions require official employment and a minimum salary, but they rarely check your credit history. 

However, at the same time, it is worth noting that the higher your credit score, the more chances you have of getting a payday loan on good terms.  

In addition, it is essential to understand that these loans are often not reported to the credit bureau by financial institutions, so your credit history will not be damaged if you don’t pay them off. 

What Are Alternatives to Alabama Payday Loans?

Since such credits are costly, it is always worth considering one or more alternatives. Therefore, we suggest looking at the following:

  • Credit Unions. If you are a member of such an organization, you can explain your situation and ask for a loan on better terms. This is usually one of the best options for short-term credits.
  • Someone close to you. You can ask to borrow money from friends or family, but be sure to explain your situation immediately and tell the truth if you know you may not be able to pay the money back on time. Such debts can destroy your relationships, friendship, and love, so be careful.
  • Employer. You can always turn to your employer for help if the situation is an emergency. Ask him for a cash advance, essentially an early paycheck, so you don’t have to go to financial institutions for an expensive loan. 

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Frequently Asked Questions

Such a loan is worth taking only in case of emergency if you have no alternatives and are sure you will pay it back in time. In other cases, it is better to avoid this option.

No. The APR is the payment to the financial institution for the money you receive. Since such loans are given without a credit check, they come with a high APR, so the lender can hedge in case you don’t repay the loan.

The state has a database where payday lenders can see if you already have a similar loan. But, unfortunately, if you have one, they won’t give you a new one – in AL, you can only get one loan up to $500 at a time.

Yes, they are allowed by state law. However, only people over 19 with U.S. citizenship and formal employment are eligible. These loans are available for 10 to 31 days at 40% to 456.24%.

Yes, and you will only have two weeks to respond. Payday lenders can sue you on the loan amount, court, and attorney’s fees, so don’t get into such a situation and pay all borrowings on time.

No lender has the right to take your money without permission from the court. However, if you do not pay back the loan for too long, financial institutions can sue you to get their money back.

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