What a loan can cost in Alaska
Examples at an illustrative rate, never above Alaska's cap for the amount. They are not quotes.
Representative example
- Amount borrowed
- $500
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $48.74
- Finance charge
- $84.88
- Total of payments
- $584.88
Example: a $500 installment loan at 29.99% APR repaid in 12 monthly payments of $48.74 costs $584.88 in total, including a finance charge of $84.88. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $1,000
- Annual percentage rate (APR)
- 29.99%
- Repayment
- 12 monthly payments
- Payment
- $97.48
- Finance charge
- $169.76
- Total of payments
- $1,169.76
Example: a $1,000 installment loan at 29.99% APR repaid in 12 monthly payments of $97.48 costs $1,169.76 in total, including a finance charge of $169.76. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Representative example
- Amount borrowed
- $3,000
- Annual percentage rate (APR)
- 27.4%
- Repayment
- 12 monthly payments
- Payment
- $288.64
- Finance charge
- $463.68
- Total of payments
- $3,463.68
Example: a $3,000 installment loan at 27.4% APR repaid in 12 monthly payments of $288.64 costs $3,463.68 in total, including a finance charge of $463.68. Illustration only; your lender will disclose your actual APR, payment schedule and total cost before you accept a loan.
Resources in Alaska
Free and low-cost help in Alaska, each with its official link and the date we checked it.
Lending regulator and complaints
Alaska Division of Banking and Securities (Dept. of Commerce, Community and Economic Development) licenses lenders in Alaska.
Check a lender's license File a complaint
commerce.alaska.gov Checked September 23, 2026
Attorney general consumer protection
Takes complaints about scams and unfair debt collection.
law.alaska.gov Checked September 23, 2026
211
Help with rent, utilities, food and other urgent bills.
alaska211.org Checked September 23, 2026
Legal aid
Free civil legal help if your income is low; income limits vary.
alsc-law.org Checked September 23, 2026
Nonprofit credit counseling
Help with a budget or a debt management plan.
nfcc.org Checked September 23, 2026
Benefits portal
Check whether you qualify for food, cash or other benefits in Alaska.
health.alaska.gov Checked September 23, 2026
Federal complaints
Complaints about any lender, to the Consumer Financial Protection Bureau.
Submit a complaint to the CFPB
consumerfinance.gov Checked September 23, 2026 Available in Spanish
Cheaper options to try first
Worth checking whatever your credit: these can cost less than a high-rate loan.
- Credit union payday alternative loans (PALs). Federal credit unions may offer small loans of up to $2,000 with terms of up to 12 months and an APR no higher than 28%, under NCUA rules (12 CFR 701.21). You usually need to be a member.
- Ask your creditor for a payment plan. Utilities, hospitals and many lenders offer hardship or extended payment plans if you ask before you miss a payment.
- Credit-builder loans: a small loan held in savings while you pay it off, which can help build a payment history.
- Secured credit cards: a card backed by a deposit you make, which can help build credit when you pay on time.
The rules lenders follow in Alaska
Each rule links to its source. How we research state rules.
Allowed in Alaska: installment and personal loans and payday loans.
| Product | Status | APR cap | Amount | Term | License | Law |
|---|---|---|---|---|---|---|
| Installment and personal loans[1][2][3][4] | Allowed | 36% APR (top tier) | Up to $25,000 | Not set by statute | Small loan company license | AS 06.20.010 et seq. |
| Title loans[2] | RestrictedHigh-cost loan | Not verified | Not set by statute | Not set by statute | None listed | See sources |
| Payday loans[5][6][7][2] | AllowedHigh-cost loan | Not verified | Up to $500 | At least 14 days | Deferred deposit advance license | AS 06.50.010 et seq.; application details at AS 06.50.400-06.50.560 |
| Verified against the statute and regulator on September 23, 2026. Laws change; confirm with the regulator before you borrow. | ||||||
Bars place each APR cap on a 0 to 400% scale; the pin marks the cap. A striped bar means the statute sets no numeric cap.
Rate, fee and license rules in Alaska
Installment and personal loans
- Rate cap
- Alaska Small Loans Act (AS 06.20.230(a)) lets a licensee lend up to $25,000 at no more than 3% per month on the unpaid principal balance up to $850, 2% per month on the balance from $850 to $10,000, and a contract-agreed rate on the balance from $10,000 to $25,000.
- License
- Small loan company license (Alaska Small Loans Act) issued by the Division of Banking and Securities.
Payday loans
- Fees
- AS 06.50.460(a) limits charges to a nonrefundable origination fee of up to $5 plus a fee not exceeding $15 per $100 advanced or 15% of the advance, whichever is less. Max $500 outstanding (AS 06.50.410); minimum duration 14 days (AS 06.50.440); no more than two consecutive renewals (AS 06.50.470).
- License
- Deferred deposit advance (payday lender) license issued by the Division of Banking and Securities.
Rent and jobs in Alaska
Typical rent and the jobless rate, to weigh before a loan payment.
Guides for Alaska borrowers
Check your options in Alaska
Alaska questions
Does Alaska law allow payday loans?
Alaska law allows payday loans. Source: AS 06.50.010 et seq.; application details at AS 06.50.400-06.50.560.
What is the most a lender can charge in Alaska?
By loan type in Alaska: Installment and personal loans: 36% APR (top tier). Title loans: Not verified. Payday loans: Not verified.
Where can I file a complaint about a lender in Alaska?
You can file a complaint with Alaska Division of Banking and Securities (Dept. of Commerce, Community and Economic Development), and you can also submit one to the Consumer Financial Protection Bureau. Both links are under Resources in Alaska on this page.
How do I check a lender's license in Alaska?
Alaska Division of Banking and Securities (Dept. of Commerce, Community and Economic Development) licenses lenders in Alaska. Use the license link under Resources in Alaska on this page to check a lender before you share your information.
Is there free help paying bills in Alaska?
Yes. Resources in Alaska on this page lists free help, including 211, legal aid, nonprofit credit counseling and benefits portal.
Sources
- Justia. law.justia.com/codes/alaska/2016/title-06/chapter-06.20. Retrieved September 23, 2026.
- commerce.alaska.gov. Alaska Division of Banking and Securities (Dept. of Commerce, Community and Economic Development). Retrieved September 23, 2026.
- nclc.org/wp-content/uploads/2025/04/202411_APR-Annual-Report_Appendix-C.pdf. Retrieved September 23, 2026.
- akleg.gov. AS 06.20.010 et seq.. Retrieved September 23, 2026.
- commerce.alaska.gov/web/dbs/ConsumerFinance/DeferredDepositAdvance.aspx. Retrieved September 23, 2026.
- Justia. law.justia.com/codes/alaska/2010/title06/chapter06-50. Retrieved September 23, 2026.
- akleg.gov. AS 06.50.010 et seq.. Retrieved September 23, 2026.
- National Low Income Housing Coalition. Out of Reach 2026: Alaska. Retrieved September 23, 2026.
- U.S. Bureau of Labor Statistics. Local Area Unemployment Statistics (LAUS), All States, Seasonally Adjusted. Retrieved September 23, 2026.
Important disclosures
APRs vary by lender and state in Alaska. Each lender sets its own rates and terms and must show you the APR before you sign.
- BadCreditMD is not a lender or broker and does not make loans or credit decisions. When you submit a request, a lending network partner shares it with third-party lenders, and those lenders or the partner may pay us a fee for each referral. The lenders decide whether to offer you a loan.
- There is no fee to use BadCreditMD. Lenders or our lending network partner may pay us.
- Lenders set their own rates, fees and terms. Offers depend on your credit, income, state of residence and each lender's criteria.
- Our service is not available in all states, and not every loan type is available in every state.
- By submitting a request you consent to lenders checking your credit, which may affect your score, and to your information being shared with them.
- Submitting a request does not mean you will be approved or funded, or that you will receive any particular amount or rate.
- Short-term loans are costly and are not a long-term financial solution. Borrow only what you can repay on time.
- BadCreditMD publishes general information about loans and state rules. It is not legal or financial advice.
- BadCreditMD is operated by BadCreditMD, LLC, 30 N Gould St Ste N, Sheridan, WY 82801. Contact: pr@badcreditmd.com. Full details are on our disclosures page and disclaimer.
- Questions about a lender licensed in Alaska? Contact the Alaska Division of Banking and Securities (Dept. of Commerce, Community and Economic Development) or file a state complaint.
- You can submit a complaint about any lender to the Consumer Financial Protection Bureau at consumerfinance.gov/complaint.