By State
Payday Loans in Alaska
Payday Loan Laws in Alaska (2026)
Yes — payday loans are legal in Alaska as “deferred deposit advances.” You can borrow up to $500, with a $5 origination fee plus 15% of the advance, for at least 14 days, and a loan may be renewed no more than twice. A 2025 bill to cap rates at 36% passed the legislature but was vetoed, so the high-cost product remains in place.
| Status | Legal — licensed & regulated |
|---|---|
| Maximum loan | $500 |
| Maximum fee | $5 origination fee, plus the lesser of $15 per $100 or 15% of the advance |
| Typical APR | ≈435% on a 14-day loan |
| Minimum term | 14 days |
| Rollovers | No more than 2 consecutive renewals, then repay in full |
| 2025 reform | A 36% APR cap (SB 39) passed but was vetoed by the governor |
| Regulator | Division of Banking and Securities |
| Law | Alaska Stat. ch. 06.50 (Deferred Deposit Advances) |
What a payday loan costs in Alaska
Alaska allows a $5 origination fee plus 15% of the advance, so a $500 loan costs about $80. On a 14-day loan that's roughly a 435% APR; the flat $5 makes smaller loans cost even more.
| Amount borrowed | Fee ($5 + 15%) | Total repaid |
|---|---|---|
| $100 | $20 | $120 |
| $300 | $50 | $350 |
| $500 | $80 | $580 |
Your rights as a borrower in Alaska
- You can borrow up to $500, with a $5 origination fee plus 15% of the advance.
- A loan can be renewed no more than twice, after which the full balance is due.
- In 2025, lawmakers passed a 36% rate cap (SB 39) that would have ended high-cost payday loans, but the governor vetoed it and the veto was not overridden.
- The minimum term is 14 days, and you have a right to cancel (rescind) the advance.
Problem with a lender? File a complaint
Payday (deferred deposit) lenders in Alaska are licensed by the Division of Banking and Securities. To report a violation or an illegal lender, use the online complaint form.
Alternatives to a payday loan
Before borrowing, compare a credit-union payday-alternative loan, an employer paycheck advance, or a payment plan with the biller. See our guide to payday loans and alternatives.
Disclaimer: general information, not legal or financial advice. Laws change — verify the current rules with the Alaska Division of Banking and Securities before borrowing. Last reviewed 2026.
Sources
Frequently asked
Are payday loans legal in Alaska?
Yes. They are legal as “deferred deposit advances” under Alaska Stat. ch. 06.50, overseen by the Division of Banking and Securities.
How much can you borrow with a payday loan in Alaska?
Up to $500, with a $5 origination fee plus 15% of the advance.
Did Alaska cap payday loan rates?
Lawmakers passed a 36% cap (SB 39) in 2025, but the governor vetoed it and the veto was not overridden — so the high-cost product remains legal.
How many times can an Alaska payday loan be renewed?
No more than twice in a row, after which the loan must be repaid in full.