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Payday Loans Online in Alabama

Payday Loans Online in Alabama

Get the emergency cash loan you need sooner when you request payday loans in Alabama. Alabama payday loans offer customers a quick online loan product when they need fast financial solutions.

Payday Loans Alabamas

Payday loans are short-term loans that are paid off quickly in one lump sum on your next pay date. They can be the perfect short-term financial solution when you need money now.

Why Use LoansinaDay for Online Payday Loans in Alabama?

We are not a direct lender, but we have an even better solution for you. We have 100 reliable, direct lenders who provide loan offers with high approval rates. All our lending partners are state licensed and abide by the state lending laws while offering cash advance loans. Our partner network is broad, and the services we offer across the US are of the highest quality. By having a large network, we increase the odds of approval of your loan request.

Easy Application Process at LoansinaDay

LoansinaDay loves to make your life easier. That's why we use and create the best financial technology around to best serve the financial needs of our Alabama customers.

All our fast payday loan products come with a fast and easy payday loan online application process. We want all our fast financial solutions to be easy and fast.

What’s Needed from Your End? (Eligibility)

  • Income Information (Pay Cycle, Income Type, Income Amount)
  • Banking Information (Checking Account Number, Routing Number)
  • Basic Personal Information (Phone Number, Valid DL Number or State ID Number, Home Address, Email Address)
  • Current residence: (Must be a current resident of Alabama.)

Are Payday Loans Legal in Alabama?

Payday lending is legal in the state of Alabama; lenders may provide a loan as high as $500 per Ala. Code A§A§ 5-18A-1 et seq. Payday loans in Alabama are granted for a period of 10 to 31 days only. The maximum fee for cash advances in Alabama is $17.50, or each $100 a person borrows. One rollover on a single loan is permitted.

Alabama Payday Lending Statutes

Regulations apply to both online and storefront loan providers. To operate in the state, lenders must comply with the following regulations:

  • All lenders must be licensed.
  • All lenders must disclose all the loan information (terms, interest, fees, repayment period) before the loan documents are signed.
  • Payday loans in Alabama must follow all legal requirements established by law.

Alabama Payday Loan Regulations Summary:

  • Legal Status- Legal
  • Maximum Loan Amount- $500
  • Minimum Loan Term- 10 days
  • Maximum Loan Term- 31 days
  • Number of Rollovers- 1
  • Cooling-off Period- Next business day after repayment
  • Installment Loans- 4 equal installments
  • Finance Charges- Not more than 17.5% of the amount advanced
  • Statute of Limitations- 6 years (from the last payment)
  • Database Loan Tracking- Yes

Alabama Payday Loan Law, Stats, and History

Payday loans are legal in the state of Alabama.

Alabama imposes a $500 limit on payday loans offered in the state. Payday loans can be taken for a period of 10-31 days with a maximum finance charge of 17.50% for every $100. One rollover is allowed, and there is a cooling-off period of 1 business day after a second consecutive loan should pass before a person can apply for a new loan.

Loan Fees in Alabama

Alabama state law allows payday lending in an amount not exceeding $500.

Finance charges and fees should not exceed 17.50% for every $100 of the amount advanced or $17.50 per $100 borrowed.


How Much Would a $100 Payday Loan Cost in Alabama?

With a 14 days term:

Loan cost: $17.50

Payback: $117.50

ARP calculation:

$17.50 / 14 days = 1.25 * 365 days = 456.25%

 Additional Consumer Information

Additional Consumer Information

  • In case the borrower is unable to repay in due time, one rollover is allowed.
  • There is also a cooling-off period after the repayment of two continuous loans for one business day. In case of need, a repayment plan may be offered to a borrower.
  • Alabama also has certain collection restrictions in cases when payday loans were delayed or were not entirely repaid. A maximum fee of $30 for non-sufficient funds (NSF) is established.
  • Criminal actions against borrowers in Alabama are prohibited.
  • The Maximum Term for a Payday Loan in Alabama is not less than 10 days and not more than 31 days. . (Code §§ 5-18A-1 et seq.)
  • Alabama state law also allows 1 payday loan at a time.

FAQs: Alabama Loans

If you have bad credit, don’t presume this excludes you from being accepted! You can still find an online loan in Alabama, even if you have been turned down by a bank for bad credit. A past financial mistake may have destroyed your credit scores, but we believe you should have a chance to rebuild your financial strength.

LoansinaDay accepts people with all credit histories. Get started today to get a stress-free payday loan.

You can obtain payday loans in Alabama in amounts ranging from $100 to $500.

No, there are no upfront fees for submitting a payday loan request form with LoansinaDay. The service is at no cost to you.

Yes, LoansinaDay accepts people with a range of different credit histories, including those with bad credit.

LoansinaDay is neither. We are a referral service that connects borrowers with 100+ direct lenders licensed in Alabama. Our service is at no charge to you, and you work directly with a lender if you qualify for a loan. All loan transactions are completed directly with a lender, so we have no access to your loan transaction information.

Once you click on ‘Get Started,’ the online payday form will appear. You’ll have to answer some simple questions about yourself. These may include information about your employment and your income, as well as other necessary information. After you submit your request, you will get an answer in 90 seconds or less. If approved, you will be connected directly to your lender, who will review your loan terms and conditions.

If you agree with your loan terms, you typically get your loan in your bank account in 1 business day. Ask your lender any questions and verify with them when to expect your loan in your bank account.

At LoansinaDay, we ensure fast loan request processing to help you in your your financial emergencies. Apply for our online payday loan in Alabama and get the money you need fast.