Payday Loans in Alaska 

Payday Loans in Alaska 

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Each month, about a million Americans apply to financial institutions for such credits to cover urgent expenses. Realizing that many citizens do not have a good credit history and may need an emergency loan, local lawmakers decided to legalize such credits. 

This is very good for the borrower because all the information about the maximum rates, terms, and loan amounts is transparent and clear.

For example, the maximum amount of Alaska payday loans online is $500, and the minimum payment term is 14 days. In addition, the highest APR of 435% is established by law, which is less than the U.S. average.

Considering that other states’ financial institutions provide similar loans at 2200% APR, such regulation saves AK residents from falling into a credit trap. 

Various payments and the number of credits are also limited – you can’t take out more than one payday loan online in Alaska simultaneously. Also, once you’ve paid back the funds you’ve received, you’ll have to wait two weeks before you can apply for a new loan.  

Best Payday Loans in Alaska

Now that we’ve discussed general information about Alaska payday loans online, let’s look at the terms and conditions different payday lenders offer for getting money.


paydaysay loans

It’s not a financial institution but a platform with a vast database of lenders willing to lend you money. It takes about 5 minutes to fill out a qualification form and find a loan with favorable terms for you, and sometimes that’s enough time to get the funds into your bank account. 

To get a payday loan online through this platform, you only need to provide basic information about yourself (name, last name, place of work, address, amount, and purpose of the loan). 

Next, the application’s algorithms will select many offers from lenders, among which you can choose the one whose terms suit you best. This is an excellent option for those who do not want to go to different sites and compare the services of financial institutions manually.

PayDaySay does not set clear loan terms for its users; each lender does that separately. But, on average, you can get small credits of $100 to $500 here at 130% to 435% APR. Alaska payday loans online range from 14 to 31 days; you usually get the money before your next paycheck.

Using the PayDaySay platform is free; you do not have to pay fees. However, keep an eye on the terms of the contract because lenders have the right to charge you origination, late fees, and other payments.

Platform users say the company’s main advantage is its vast lender base. Almost everyone who applies for a loan gets money within 24 hours, regardless of their credit history.

However, the main disadvantage is that since the platform is an intermediary, it does not solve any financial issues, and all problems must be discussed directly with the lender. 

Overall, PayDaySay is an excellent option for those who don’t want to spend hours comparing offers from different lenders online in search of the best loan terms. The company is entirely online, and you can find all the details on its website at


This is one of the most popular platforms where you can get a payday loan online in Alaska from $100 to $500 for 14-36 days. To get the money, you must make a non-refundable deposit of $5, proving your US citizenship and residence address.

This platform offers borrowings at reasonably high interest rates, ranging from 192% to 435%. In addition, it does not conduct a credit check on its users and gives out 95% of those who apply for online loans in Alaska.

Users of the company say that CheckCity’s “loan extension” service helps them a lot. If you can’t pay the money back on the due date, you can extend the loan until your next paycheck. You can use this service no more than two times in a row. 

This organization works both online and offline. If you would like to receive money in cash, you can go to P.O. Box 110807 Juneau, AK 99811. And if you want an online payday loan in Alaska, you can do so from your phone or computer on the website

Because of the relatively high interest rate, we do not recommend using this platform as a first choice. However, if you need cash, CheckCity is a good solution for you.


This platform is similar to PayDaySay. However, it does not provide financial services but simply connects you to the right lender. 

Compared to the first app, it has one disadvantage – if PayDaySay allows you to get money within 5 minutes to 24 hours, OpenCashAdvance always transfers funds to your bank account in 1-2 business days. 

You can get a loan from $200 to $500 for 30 days. The lowest APR on credit is 150%, and the highest is 435%.

To get the loan, you must provide the following information:

  • Your first and last name and phone number.  
  • Proof of employment. 
  • Paychecks from previous weeks. 

This is a financial institution with a license and thousands of satisfied customers. Still, we do not recommend it if you need money urgently and can not wait two business days for funds transfer. The company is located in Wyoming, so if you want to get payday loans online in Alaska, you can do so on their website:

It’s another company with a database of reliable lenders ready to lend you money. It works on a simple principle: 

  • First, you fill out a form with your contact information. 
  • Next, connect your existing bank account. 
  • Finally, you choose a lender whose terms suit you and sign a contract. 
  • In 1-2 business days, you receive the money in your bank account. 

Through, you can get a loan ranging from $100 to $500 for 14-31 days. The average rate for such a loan is 400%, and it depends on your credit history. In addition, lenders have the right to charge you different fees, so read the contract carefully and don’t miss anything. 

This platform offers many options, but a high APR can be a problem. So be sure you can pay off a loan with that interest rate on time before applying for the company’s services.

Since is based in Orlando, you can only get an Alaska payday loan online from their website

Snappy Loans

This Florida company can help you find a lender for a credit of $100 to $500 for a minimum of 14 days. The maximum APR is 435%. 

When you sign up, you must fill out a form to verify your U.S. citizenship, age, and address. In addition, the company asks for proof of employment – lenders don’t want to work with people who are unofficially employed or have been employed for less than a month. 

You can count on one loan extension, usually without additional fees. Once the lender approves your application and you sign the contract, the money goes straight into your bank account within one business day.

The company is a licensed intermediary and guarantees the protection of your information, so it is safe to use its services. They have an offline office in Florida, so to get Alaska payday loans online, use their website:

Since such credits are prevalent in the state, the local government decided to legalize them several years ago. According to the law, they must be no more than $500 and be given for two weeks or less at a maximum APR of 435%. 

Lenders cannot bring criminal charges against Alaskans for defaulting on a loan, but they can go to court to recover damages and costs incurred due to the default. 

To get such loans online, you must meet the following criteria: 

  • Have U.S. citizenship. 
  • Confirm your address with AK. 
  • Earn a minimum of $1,000 per month (this requirement is variable, the lender regulates it). 
  • Have a valid bank account. 

Many lenders do a soft credit check before lending you money because the score directly affects the loan terms. 

Why Might You Need Alaska Payday Loans?

About 19,000 Americans take out such loans every day. Why? Because it is the fastest and easiest way to get money to cover an emergency. 

The only situation you should go to a financial institution for such an expensive loan is when you need the money urgently and are sure to pay it back in time with your next paycheck. 

Payday loans are not a long-term financial solution; it is a one-time borrowing, usually for: 

  • Paying medical bills. 
  • Fixing your car or house. 
  • Paying your utility bills or rent. 
  • Repaying a loan. 
  • Covering expenses for an emergency trip. 

Even though these are everyday problems that can happen to anyone, it’s best to avoid these expensive loans if possible.

Terms for Payday Loans in Alaska

Compared to other states, the situation with such credits in AK is not bad. The borrower can feel safe because these borrowings are regulated by law and are given at a lower interest rate. 

Alaska payday loans online must meet the following criteria: 

  • The lenders are permitted to charge a $30 NSF fee. 
  • After this loan online is paid, a minimum of 14 days must pass before the borrower can apply for another credit.  
  • It is prohibited to take out two such credits simultaneously.

Loan Amounts 

The maximum amount of payday loans online in Alaska is $500; the minimum is usually around $100, depending on each lender.

Generally, people whose first credit is like this are advised to borrow as little as possible for a short period so they pay the slightest interest and don’t fall into a debt trap. 

Loan Terms 

Local laws specify only a minimum repayment period of 2 weeks. However, the maximum term is not limited but is usually 28-35 days. 

In addition, each borrower has the right to extend the loan repayment period up to two times. This means that if you can’t pay back the money on time for whatever reason, you can go to your lender and ask them to extend the credit. 

Another critical point we want to emphasize is the 14 days after the first loan repayment, during which you can not apply for a new one. This is how AK protects its residents from using short-term credits as a long-term solution to financial problems.  

Loan Rates

Under state law, the maximum APR of these credits is 435%. However, it can vary depending on the length of your repayment period, loan amount, and your credit history. 

We don’t know what terms payday lenders can offer you, but we compared several offers from financial institutions and got this information. Let’s imagine you want to borrow the following amount for two weeks: 

  • $100, your APR could be a maximum of 435%. You would pay back the $100 you borrowed and $16.68 in interest for the entire term. 
  • $200, your APR will be slightly less, about 400%. At the end of 2 weeks, you will need to pay back $200 and the $31 fee. 
  • $300, at an APR of 380%, the final loan amount will be $344. 
  • $400, with an APR of 360%, the final loan amount will be $455. 
  • $500, with an APR of 345% in 2 weeks, you will pay $566. 

However, remember that if you take out a loan for 28 days instead of 14 days, you will pay double the interest. That is no longer a $31 fee for borrowing $200 but a $62 fee. 

Always calculate the total cost of the loan and take it only if you are sure you can pay the full amount on time. 

Pros and Cons of Payday Loans Online in Alaska

The advantages of Alaska online loans are as follows: 

  • They are regulated by law. Borrowers are more protected because they will receive money from licensed organizations under legally approved conditions. 
  • Many organizations, like PayDaySay, help you get such credit within minutes. 
  • These loans are unsecured, which means you don’t have to provide collateral to get the money. 
  • Alaska’s interest rate on these credits is lower than in other states. 
  • There are organizations in the state where you can even get such credit in cash. 
  • The ability to extend the credit twice is a great help to borrowers who have encountered an emergency event and can’t pay back the entire amount on time. 
  • This kind of credit is easy because you don’t need a good credit history. 

The disadvantage of payday loans online in Alaska is the same as everywhere else; it is still an expensive loan that not everyone can pay back on time. In most situations, it is a wrong financial decision and often leads people into debt. Therefore, you have to be as careful as possible with these loans. 

What Will Alaska’s Payday Loan Cost?

Let’s figure out how to calculate the cost of a loan in 4 different cases. Let’s imagine you want to borrow $300 and see other offers from payday lenders: 

  • The first offers an APR of 350% and two weeks. 
  • The second offers an APR of 360% and ten days. 
  • The third is willing to lend you money at an APR of 335% for 30 days. 
  • And the last lender has agreed to lend you money at an APR of 340% for 24 days. 

Which option is the most profitable? To figure that out, we’ll need a calculator. 

Let’s start with the first one. We have $300, an APR of 350%, and a term of 2 weeks. Since the APR is an annual rate, let’s figure out how much of the loan we will pay back daily and divide 350% by 365 = 0.96%. Next, we calculate that in 14 days we will have to pay 0.96% * 14 = 13.4% of $300, which equals $40.32. 

This is our final price of the loan.

We do the same with the other offers and get these results: 

  • We will pay the second lender 9.9% of $300, or $29.5, in 10 days to use the money. 
  • We will pay the third lender 27.5%, which is $82.6. 
  • Under the terms of the fourth lender, in addition to the $300 borrowed, we will have to pay another $67. 

You can see from a real example that the most profitable loans are the ones you take for the shortest term at the lowest APR. 

Alaska Online Payday Loans if the Credit Rating Is Poor

One of the main advantages of such credits is that almost anyone can get them because their primary purpose is to help those who are not selective for more favorable short-term loans. 

If you have a bad credit history, you can still apply for these loans, and in 95% of cases, you will find a suitable option. However, defaulting on a loan can damage your credit history. So don’t resort to them if you have the chance or you’re not sure you can pay back the money on time. 

What Are Alternatives to Alaska Payday Loans?

Since these loans are the most expensive, any other type of loan for which you have to pay less interest can be an alternative. 

These can be: 

  • If you are part of a credit union, you can borrow a small amount from the organization at a minimal interest rate. 
  • Ask to borrow from your parents, friends, or relatives. Be as honest as possible and describe your situation. Very often, relatives are willing to lend you money, help you for free, or find better options to solve your problem.
  • Ask your employer to pay your paycheck one or two weeks early. He may agree if it’s an exceptional case and you have a real emergency. 

These loans are not as bad as many people do not pay on time, ruin their credit history and fall into a debt trap. Be careful with such loans and make sound financial decisions.

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Frequently Asked Questions

If you have the option of avoiding these loans with very high APR, you better do it. The only situation in which taking out such a loan can be a good solution is when you urgently need money, have no other alternatives, and have a clear assurance that you will pay back the loan on time.

Unfortunately, that’s not possible. When you pay an APR, you are also paying the bank for the opportunity to use the money. Since such credits are available to people with bad credit histories, banks put a very high APR on such loans as over-insurance.

You can only have one loan of up to $500 at a time. What’s more, when you pay it off, you can’t take the next one immediately – you have to wait 14 days and only apply for a new loan.

Yes, such loans are allowed under AK law, which is great for borrowers. You can get a payday loan online for up to $500 for a minimum of 14 days at an APR of no more than 435%.

In short, the answer is yes. Even though these loans are unsecured, you are still required to pay them back on time. A lender can sue you for violating the terms of the loan agreement, but it will be a civil court and not a criminal court.

If you do not pay the loan on time, the lender can go to court, resulting in a wage garnishment order. However, without the court’s permission, the lender cannot do such an action but still try to pay back the money on time.

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