Payday Loan Calculator

Your details

The principal you borrow from the lender before any fees.
Choose how you want to enter the lender fee: a flat dollar charge, a percentage of the loan, or the common "fee per $100 borrowed" rate.
Flat fee the lender charges to issue the loan, in dollars.
Number of days until the loan is due. Most payday loans run 7 to 30 days; 14 days (two weeks) is typical.
days
A rollover (or "renewal") extends the loan for another term by paying only the fee. Enter how many times you expect to roll over before repaying the principal.
Currency
APRVery high rate
3.9%

Annualised cost of the loan as a percentage

Finance charge$60.00
Total repayment (no rollover)$460.00
Total fees with rollovers$60.00
Total repayment with rollovers$460.00
Fee as % of loan0.2%
3.9% APR
Low<0.5High0.5-2Very High2-4Extreme4+
Finance charge$60.00
Total repayment$460.00
Repayment with rollovers$460.00

This loan carries a 391% APR.

  • Your effective APR is 391%. For context, credit cards typically charge 17-29% APR and personal loans 6-36% APR.
  • The finance charge of $60.00 is 15.0% of your $400.00 principal for a single term.
  • Payday loan debt can escalate quickly: if you cannot repay at the due date, consider a credit union payday alternative loan (PAL) or a bank small-dollar loan, which carry far lower rates.

Next stepIf the APR looks unaffordable, use our Loan Comparison or Personal Loan calculator to find lower-cost alternatives before you sign.

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