Alabama authorizes single-payment deferred-presentment loans under its Deferred Presentment Services Act, with a maximum principal of $500. Lenders may charge a fee of up to 17.5% of the amount advanced, which produces a high effective APR on a short two-to-four-week term. These loans are intended for short-term cash needs, not ongoing borrowing.
Key limits in Alabama
- Maximum loan amount: $500
- Maximum term: 31 days
Figures can change — always confirm current limits with the official source below before borrowing.
Source: Consumer Federation of America (paydayloaninfo.org) · last verified 2026-07-24 · pending second-source verification
This page is general information, not legal or financial advice. State laws change; verify current rules with your state regulator or the source above.