Alaska maximum interest rate is the answer to “maximum interest rate allowed by law in Alaska”. This guide gives the Alaska figures in a dated table, explains in plain words what they mean, walks through the steps, and points to the official forms and free help.
The Alaska maximum interest rate figures on this page were verified against a dated 50-state compilation and Alaska sources as of October 2026; the statute named here is where to check them yourself.
Alaska maximum interest rate at a Glance
| Legal rate when no rate is agreed | 10.5% per year |
| Maximum rate in a written contract | by express contract, up to 5 points over the Federal Reserve rate set in the statute |
| Who the cap does not reach | contracts with principal over $25,000 |
| Statute | Alaska Stat. 45.45.010, 45.45.030 |
In This Alaska maximum interest rate Guide:
What the Alaska Maximum Interest Rate Means
Usury means charging more interest than Alaska law allows. Alaska has two different numbers. The legal rate applies only when a loan or debt never set a rate. The contract cap is the most a lender can charge when you both agreed to a rate in writing, and it moves with the Federal Reserve benchmark named in the statute.
The Alaska maximum interest rate Figures
| Rule | Bonus Bank Daily verified figure |
|---|---|
| Legal rate when no rate is agreed | 10.5% per yearcompilation / agency — verified Oct 2026 |
| Maximum rate in a written contract | by express contract, up to 5 points over the Federal Reserve rate set in the statutecompilation / agency — verified Oct 2026 |
| Who the cap does not reach | contracts with principal over $25,000compilation / agency — verified Oct 2026 |
| Statute | Alaska Stat. 45.45.010, 45.45.030compilation / agency — verified Oct 2026 |
The Alaska maximum interest rate figures on this page were verified against a dated 50-state compilation and Alaska sources as of October 2026; the statute named here is where to check them yourself.
Who the Alaska Maximum Interest Rate Applies To
The general cap reaches ordinary loans between private people and businesses that are made under Alaska law. Banks chartered in another state, and national banks, can usually charge the rate allowed where they are based. Licensed consumer lenders, such as small-loan companies under AS 06.20 and payday lenders under AS 06.50, follow their own licensing rules and rate limits instead of the general cap.
Credit cards are generally controlled by the issuing bank’s home-state law.
Credit Cards and the Alaska Maximum Interest Rate
Most credit cards come from national banks or out-of-state banks. Federal law (12 U.S.C. § 85) lets a national bank charge the interest allowed in its home state to customers anywhere. That is why a card rate far above Alaska’s cap can still be legal.
What Happens When a Lender Breaks the Alaska Maximum Interest Rate
Under AS 45.45.040, if a court finds in a contract case that a usurious rate was agreed to, the lender in most cases loses all the interest on the debt. Under a separate section, a borrower who already paid usurious interest may sue to get back double that interest, but only within the deadline the statute sets.
Confirm with the statute, the court clerk or an attorney how these rules apply to a specific loan.
How to Check a Loan Against the Alaska Maximum Interest Rate
1) Find the rate or APR in the loan papers or the Truth in Lending disclosure. 2) If only fees and payments are listed, add up everything you will pay beyond the amount borrowed to see the full cost. 3) Look up the Federal Reserve benchmark rate in effect on the date the loan was made, then add the margin the statute allows.
4) Check whether the lender is a bank or a state-licensed lender, because different limits may apply.
Where to Report a Loan Above the Alaska Maximum Interest Rate
The Alaska Division of Banking and Securities, part of the Department of Commerce, Community, and Economic Development, licenses consumer lenders and takes complaints about them. You can also file a complaint with the federal Consumer Financial Protection Bureau at consumerfinance.gov/complaint.
💰 Get Free Bonus Alerts
Free · No spam · Unsubscribe anytime
Common Mistakes With Alaska maximum interest rate
The most common mistake is missing a deadline: court and creditor deadlines run whether or not you have read the papers, and a missed one usually cannot be undone. The second is relying on an old article or a friend’s experience in another state — the rules on this page differ from state to state and change often, which is why every figure here is dated.
The third is not keeping copies: every letter, form, receipt and bank statement may matter later, so keep them together and note the date you received each one.
Free Help With Alaska maximum interest rate in Alaska
You do not have to handle this alone or pay to get answers. The Alaska court self-help center explains the forms and the steps, and court clerks can tell you where and how to file, although they cannot give legal advice.
Legal aid organizations represent many people at no cost when income is limited, and the Alaska bar’s lawyer referral service can connect you with a lawyer for a low-cost first consultation. The Consumer Financial Protection Bureau accepts complaints about lenders, banks and debt collectors nationwide.
How We Verify the Alaska maximum interest rate Figures
Every figure in the table above comes from our 50-state data file, built by reading the Alaska statute or an official compilation of it, and each one carries the month we last checked it. Our writers do not change those figures; they explain them. When the law changes, the figure is updated and the date moves.
If something on this page no longer matches the statute, the statute controls — and we want to hear about it.
Interest on court judgments is a separate issue, covered by AS 09.30.070. That rate is reset each year from the Federal Reserve rate in effect on January 2. It does not come from the usury cap. Alaska courts have also held that a usury claim generally requires showing the lender intended to charge the excess rate (Fikes v. First Federal Savings & Loan, 1975).
Confirm the current year’s figure with the Alaska Court System.
Next rung: the Alaska payday loan page covers the short-term loans that have their own caps.
Alaska — the bottom line
- Alaska maximum interest rate rules set two numbers — the legal rate and the written-contract cap — both in the table above.
- Many lenders sit outside the Alaska maximum interest rate cap by license or charter, so check which rule covers your loan.
- If a loan breaks the Alaska maximum interest rate rules, keep the agreement and report it to the state regulator.
Alaska Maximum Interest Rate FAQ
What is the maximum interest rate allowed by law in Alaska?
Without an agreement: 10.5% per year. In a written contract: by express contract, up to 5 points over the Federal Reserve rate set in the statute.
Official Alaska Sources & Resources
- Statute and the Conference of State Bank Supervisors 50-state usury survey (verified by each state regulator) — maximum legal interest rate: https://www.csbs.org/50-state-survey-consumer-finance-laws
- Statute and the Conference of State Bank Supervisors 50-state usury survey (verified by each state regulator) — maximum legal interest rate: https://facts.csbs.org/consumer-finance-law/dev
- Alaska statute / opinion: https://www.akleg.gov/basis/statutes.asp#45.45.010
- Alaska Division of Banking and Securities (Department of Commerce, Community, and Economic Development): https://www.commerce.alaska.gov/web/dbs/
- Consumer Financial Protection Bureau: consumerfinance.gov
This Alaska maximum interest rate guide was last verified against official Alaska sources in October 2026. Rules change — confirm the current rule with the statute or a licensed attorney.
More Alaska Money Rights Guides
Disclaimer: This guide is general information, not legal or financial advice. Bonus Bank Daily is an independent educational resource — not a law firm, not a bank, not a debt collector and not a government agency. Judgment, levy, interest-rate and debt rules change — every figure here carries the date we verified it.
Confirm the current rule with the statute, the court clerk or a licensed attorney in your state before you act.