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According to Alabama state legislation, all payday loan and cash advance providers are not subjected to the small loan laws. It is allowed for lenders to charge an interest rate up to 3 digits range in one repayment check from the borrower’s bank account. The maximum amount of loan is limited to not more than $500, but there is no restriction on how many payday loans a borrower can take. If a borrower keeps a good record of repaying two subsequent loans, he/she can apply for another payday loan in the next working day. Details of the Alabama payday loan requirements are summarised as follows:

• Maximum Payday Loan Amount: Borrowers are qualified to apply up to a maximum of $500 in any payday cash advance loans.
• Terms of Payday Loan: The term of loan given to all borrowers is typically available between 10 days and 31 days.
• Payday Loan Extensions: According to Alabama state law, it allows up to one single extension or rollover.
• Payday Loan Fees and Charges: The maximum payday loan fee for any loan amount is limited to 17.5%. Typically for a customer to borrow a payday loan amount of $100 for 14 days term period, will be charged a fee of $17.50. After default, the maximum monthly fee is set to 3%.
• Payday Loan APR Rate and Fee Schedules: The typical annual percentage rate (APR) for a 14 day payday loan of $100 is 456.25%.

To apply for an Alabama payday loan, why not check out our recommended list of online payday loan lenders below. They covers all 50 states including Alabama (AL).

Recommended Online Payday Loan Companies

	Speedy Cash Getting an online payday loan with Speedy Cash is simple and secure. You can borrow loan amount range from $100 up to $1500. No credit check, no fax, instant approval and receive the funds directly in your bank account in less than 24 hours.
	CashNetUSA CashNetUSA offers superb support with 24/7 customer service. Apply a payday cash advance loan at CashNetUSA is quick and easy with their 5 minutes online payday loan application. No credit check and no fax document is required. Customers get approval instantly and cash deposited into their bank account in the next business day.
	Cash Central Cash Central is one of the longest serving payday loan lender in the America, with over 20 years of payday lending experiences. They offers superb personal friendly service with secure and reliable online process. Apply for an online payday loan with Cash Central is made easy with their simple 3-step online application. Quick loan approval and receive the loan within 24 hours.

Tags: alabama cash advance, alabama payday advance, alabama payday loan, Payday Loan By State

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