Payday Loans in Alabama: Up to $500 Until Payday

By the Cash Quick teamSources

Payday Loan Cost Calculator (Alabama)

Amount

$300

Days until due

14

Maximum fee (17.5%)

–

Total due

–

Equivalent APR

–

Apply Now

Uses Alabama's maximum fee of 17.5% of the amount advanced. Your lender's fee may be lower; the exact fee and APR are in your agreement.

How a Payday Loan Works

1. RequestFill out the Quick Apply form or visit an Alabama office. It takes a few minutes.
2. ReviewThe lender checks your identity and income and the Alabama payday loan database. A request is not an approval.
3. Terms in writingYou see the amount, the fee in dollars, the APR and the due date before you sign anything.
4. Money and repaymentThe money is deposited or paid out; on the due date you repay the amount plus the fee in one payment.

Alabama Payday Loan Costs

Alabama's Deferred Presentment Services Act sets the limits: no more than $500 in payday loans outstanding at one time across all lenders (a real-time statewide database checks this), a fee of up to 17.5% of the amount advanced, and a term of 10 to 31 days. These are state maximums; your lender may charge less.

The APR looks high because the fee is charged for a few days, not a year: the same $52.50 on $300 is 638.75% APR for 10 days and 206.05% for 31 days. The dollar amount is what you actually pay.

Renewals and repayment plans

Alabama allows one renewal at the same fee. Renewing a $300 loan costs another $52.50 – $105 in fees – and you still owe the $300. After two loans in a row, the lender must wait until the next business day after you repay in full before making a new one. If you can't repay, ask for the plan of four equal monthly payments, which Alabama rules require lenders to offer at no extra cost before suing.

What You Need to Apply

• Alabama residence and age 18 or older.
• A valid picture ID.
• Proof of regular income, such as a pay stub, benefits letter or bank statement.
• An active checking account for the deposit and the repayment.
• A working phone number and email address.

Lenders check the state database and may review credit or other data; bad credit doesn't rule you out, but approval is not guaranteed. See what lenders typically ask for.

Is a Payday Loan Right for You?

A good fit when you have a one-time, short gap and you are sure the next paycheck covers the full amount plus the fee. Not a good fit for an ongoing shortfall, or if repaying would leave you short again next month – an installment loan spreads the cost into smaller payments.

Payday Loans in Georgia

Payday loans are illegal in Georgia. Georgia residents can look at an installment loan or a title pawn at our Columbus office instead.

Pros and Cons

Payday Loans Compared

Where to Get Payday Loans

• Payday Loans in Opelika, AL1993 Pepperell Pkwy · 334-759-7222
• Payday Loans in Phenix City, AL1153 US-280 · 334-664-0011

Payday loans are offered to Alabama residents online and at our Opelika and Phenix City offices. They are not available in Georgia.

If You're Having Trouble Repaying

Call your lender before the due date and ask about a payment arrangement. In Alabama, a payday lender must offer a written plan of four equal monthly payments at no extra cost before suing on an unpaid payday loan. Before taking new high-cost debt, ask the biller for an extension, check for employer hardship help, or ask a bank or credit union about a small-dollar loan.

Free, independent help:

• Consumer Financial Protection Bureau – borrowing guides and complaints, 855-411-2372.
• Alabama State Banking Department – licensed lender complaints, 334-242-3452.
• Georgia Department of Banking and Finance (installment lenders) and the Georgia Attorney General's Consumer Protection Division (payday and title pawn concerns).
• NFCC – nonprofit credit counseling; ask about any program fees.
• Active-duty service members and covered dependents: the Military Lending Act caps covered credit at a 36% MAPR. Talk to your legal assistance office.

Payday Loans FAQs