Why get an Alabama Online Loan?
We get it. Sometimes, emergency expenses like dental come up and you need to get cash
immediatey. However, you don't have the income or credit to put it on your credit card.
Thankfully, getting an online loan in Alabama is quick and easy. It doesn't matter if you live
in Birmingham, Montgomery, Mobile, or Huntsville, you can you loan deposited the same day.
How Much does an Online Loan in Alabama Cost?
The maximum annunual percentage rate allowed by law in Alabama is 210% APR.
Finance Charges
Often, the APR includes the interest rate plus fees. In Alabama, lenders may charge a maximum
of 17.5% fee of the total loan amount.
Representative Example
For example, Ileana has an unexpected dental expense and needs cash
immediately. They can borrow up to $500 for up to 31 days
at 210% APR. The high APR can make this example loan extremely expensive; Ileana will pay back a total of $588 including a total of $88 in interest and fees!
Requirements
Before you can get an online loan in Alabama, this is what you will need:
- You must be at least 19 years old
- Valid Alabama driver license or government issued ID
- Checking or savings account
- Most recent pay stub
Online Loan Terms in Alabama
While individual offers may vary, these are the maximum terms in Alabama.
- Maximum loan amont: $500
- Maximum rate, including fees: 210%
- Maximum loan length: $500
