Best Loans in Alaska, Payday, Auto Title Laws of February 2024

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Last Update: November 2, 2022 Loans By State
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According to Alaska’s Small Loan Act, licensed lenders can offer loans upwards of $25,000. But when the amount is $850 or less, interest rates cannot exceed 3% per month. When the amount ranges from $851 to $10,000, additional interest cannot exceed 2% per month. For amounts greater than $10,000, lenders can charge whatever interest rate they want. The final terms here depend on the interest rate agreed upon by the issuer and the borrower.

In Alaska, interest rates are computed using the actuarial method, and lenders cannot split loans across spouses to charge higher interest.

Repayment terms are also regulated:

For loans ≤ $1,000, the maximum term is 24 ½ months:

  • For loans > $1,000 but ≤ $2,500, the maximum term is 48 ½ months.
  • For loans > $2,500 but ≤ $5,000, the maximum term is 60 ½ months.
  • For loans > $5,000 to $25,000, the issuer and borrower determine the maximum term.

Best Bad Credit Loans in Alaska of February 2024

Amount:

$100 - $15,000

Min. Credit Score:

0

APR:

5.99% - 35.99%

Approval:

5 Minutes

Terms:

1 - 72 Months

Licensed in Alaska:

Yes

Amount:

$1,000 - $50,000

Min. Credit Score:

300

APR:

5.6% - 35.99%

Approval:

5 Minutes

Terms:

3 - 5 Years

Licensed in Alaska:

Yes