Alabama Rates & Terms

SpeedyCash.com is a licensed Deferred Presentment provider in Alabama.

Alabama Speedy Cash loan agreements are governed by the State of Alabama.

View example finance charges.

Advance Amount:
(amount financed):
$100
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$17.50
Check Amount:
(total of payments)
$117.50
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$150
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$26.25
Check Amount:
(total of payments)
$176.25
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$200
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$35.00
Check Amount:
(total of payments)
$235.00
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$250
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$43.75
Check Amount:
(total of payments)
$293.75
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$300
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$52.50
Check Amount:
(total of payments)
$352.50
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$350
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$61.25
Check Amount:
(total of payments)
$411.25
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$400
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$70.00
Check Amount:
(total of payments)
$470.00
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$450
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$78.75
Check Amount:
(total of payments)
$528.75
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term
Advance Amount:
(amount financed):
$500
Fee Rate: 17.50%
Fee Amount:
(cost of loan)
*Assuming all payments
are made as scheduled
$87.50
Check Amount:
(total of payments)
$587.50
APR**: 456.25% APR for a 14-day loan term
212.92% APR for a 30-day loan term

**Annual Percentage Rate: The APR is the total cost of your loan expressed as a yearly rate. The above APRs are based on example loan terms of one payment ("Check Amount") due in 14 or 30 days. The APR will increase if the actual loan term is shorter than these examples, and will decrease if your loan term is longer.

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Online Payday Loan Questions

How much money can I borrow?

Alabama residents may be eligible to receive up to $500 with an online payday loan from Speedy Cash. Alabama law limits the maximum loan amount that any one borrower may have with all Deferred Presentment providers to $500.

When do I have to pay back my loan?

Your loan due date will be determined by your pay cycle. Typically, your loan will be due on your next pay day. Under Alabama law, Deferred Presentment transactions cannot be made for a term of less than 10 days or more than 31 days.

What if I can't pay my loan off on my due date?

In accordance with Alabama law, your full loan amount plus fees are due on your scheduled loan maturity date. You may obtain another loan once this one is paid-in-full.

Alabama's Deferred Presentment Services Act

NOTICE: FEES FOR DEFERRED PRESENTMENT TRANSACTIONS MAY BE SIGNFICANTLY HIGHER THAN FOR OTHER TYPES OF LOANS.

Maximum Fee: The most that any Deferred Presentment provider may charge for Deferred Presentment transactions is 17.5% of the cash advanced. Cash Colorado LLC DBA Speedy Cash charges 17.5% for these transactions.

No other fees may be charged for these transactions, except if a check "bounces" once it is deposited at a bank, then the provider may charge a one-time NSF fee of up to $30.00. And if the provider must go to court to enforce payment of this loan, then you may be assessed court costs and up to 15% of the face amount of the check as attorney's fees. You cannot be arrested or sent to jail for passing a "worthless" deferred presentment check except due to closed account.

Additional Loan Information

Maximum Loan Amount: The law limits the maximum loan amount that any one borrower may have with all Deferred Presentment providers to $500. The provider will be verifying your other outstanding deferred presentment loans with a database to determine compliance with the law.

Term: Deferred Presentment transactions cannot be made for a term of less than 10 days or more than 31 days.

Renewal: Your transaction is due on the maturity date. You may obtain another transaction once this one is paid-in-full. However, if you cannot repay the total amount due, then, if offered by the provider, you may renew this transaction one more time upon payment of an additional fee. If you cannot pay the total amount due at that time, then, at the provider's option, you may extend your repayment into four equal monthly installments at no additional cost.

Customer Agreement: You must be given a copy of the provider's Deferred Presentment Services Agreement. You have the right to read the Agreement before you sign it. You have the right to ask questions of the provider's staff until you thoroughly understand everything in the Agreement. You also have the right to walk away from the Agreement before you sign it.

Complaints:
To report any unresolved problems with Speedy Cash, contact the State Banking Department
State Banking Department
401 Adams Ave. — Ste. 680
Montgomery, AL 36104
Phone: 1-334-242-3452
Website: www.bank.state.al.us