Credit & Debt
Payday Loan Calculator
See the real cost of a payday loan. Payday loans charge $10-30 per $100 borrowed for a 2-week term, resulting in effective APRs of 260-780%. This calculator helps you understand the true expense.
Typical: $15 per $100
Times you extend/renew the loan
Effective APR
391.07%
Fee Per Loan Period
$75.00
Total Fees
$75.00
Total Repayment
$575.00
Total Days in Debt
14
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How This Calculator Works
Payday loan cost = (loan amount / 100) × fee per $100. Effective APR = (fee / loan amount) × (365 / term days) × 100. Each rollover charges the fee again. The CFPB reports the average payday borrower pays $520 in fees to borrow $375.
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Disclaimer: This calculator provides estimates for informational purposes only. Results are based on the information you provide and standard financial formulas. Actual loan terms, rates, and payments may vary. This is not financial advice. Please consult with a qualified financial professional and verify all figures with your lender before making borrowing decisions.