Payday Loan Calculator
Enter the amount borrowed and the fee to see the total you will repay on a payday loan.
- Free
- No sign-up
Enter the amount and fee to see the total repayment.
Worked example
With these example inputs:
- Amount borrowed$500
- Fee15%
Total repayment: $575.00
- Amount added on$75.00
- As a share of the total13.04%
- If the first figure were 10% higher$632.50
Frequently asked questions
How is the payday loan cost calculated?
The fee is applied to the amount borrowed and added on top. Borrowing $500 with a 15% fee means repaying $575 by the due date.
Why are payday loans so expensive?
A flat fee over a short term works out to a very high annual rate. Rolling the loan over repeats the fee, so the cost can climb quickly if it is not repaid on time.