Payday loan APR calculator Estimate the true APR, fee per $100 borrowed, and total repayment on a short-term payday loan. Use it to compare payday loan calculator, payday loan APR calculator, payday loan fee calculator, and payday loan repayment calculator search intent before you borrow.
Display currency
Switch the currency used for the repayment summary without changing the APR maths.
Result
391.07% APR
For a 14-day payday loan with $500.00 borrowed and
$75.00 in fees, the true annualised cost is much higher than the
one-time fee.
Total repayment
$575.00
Finance fee
$75.00
Fee as % of principal
15%
Fee per $100 borrowed
$15.00
Short-term fees annualise quickly A $75.00 fee on a $500.00 loan due in
14 days is paid once, but APR annualises that cost across a full year.
How the APR is calculated
APR = (fee ÷ principal) × (365 ÷ days) × 100. At these inputs, the fee works out to
$75.00 and about
$15.00 per $100 borrowed.
How to use this result
Compare the APR with a credit card, personal loan, or credit-union alternative before
rolling a payday loan. If the fee is repeated or the due date gets extended, the real
cost can climb even faster than this estimate.
Payday loan calculator guide: true APR, fee per $100, and total repayment
A payday loan calculator shows how a small fee can turn into a very high APR when repayment is due in only a few days or weeks. Use it to compare payday loan calculator, payday loan APR calculator, payday loan fee calculator, and payday loan repayment calculator search intent before you borrow, especially when the loan is quoted as a fee per $100 borrowed rather than a standard interest rate.
What the calculator measures
This calculator compares the amount borrowed, the flat finance fee, and the number of days until repayment. From those inputs it estimates the true APR, the total repayment, and the fee as a percentage of principal. That is the key comparison most payday loan APR calculator searches are trying to make, because the headline fee on a short-term loan does not look very large until it is annualized.
Payday lenders often quote pricing as a dollar fee per $100 borrowed. That can be easier to read than APR at first glance, but it hides how expensive the loan becomes when the fee is stretched across a full year. A fee that looks modest on a two-week loan can still represent several hundred percent APR.
The APR formula behind the result
The calculator annualizes the flat fee by dividing it by the principal and then scaling that cost to a full year based on the loan term in days. That is why payday loan calculator with fees, payday loan cost calculator, and payday loan fee calculator searches often end up at the same core formula.
The result is not a payment schedule or an amortization table. It is a screening estimate that answers a simpler question: if this short-term fee were repeated for a full year, what annual rate would it imply?
APR = (fee ÷ principal) × (365 ÷ days) × 100
Annualises the flat payday fee over the loan term.
Total repayment = principal + fee
Shows the amount due when the loan is repaid on time.
Fee per $100 borrowed = fee ÷ principal × 100
Converts the flat fee into the common payday-loan pricing format.
Worked example: $500 for 14 days
If you borrow 500 for 14 days and pay a 75 fee, the total repayment is 575. The fee is 15 per $100 borrowed, and the annualized APR is about 391.07%. That is why payday loan repayment calculator and payday loan APR calculator searches tend to produce a result that looks extreme even when the fee itself seems manageable.
The headline APR is high because the cost is being measured over only 14 days and then projected across 365 days. A fee that is paid once can still imply a very expensive borrowing rate when the due date is close.
Why payday APR looks so high
Short-term borrowing compresses the fee into a very short window, so the annualized number becomes large very quickly. A small flat charge on a one- or two-week loan can be equivalent to a much lower-looking monthly rate, but the annual percentage rate is the number lenders and consumer advocates use for apples-to-apples comparison.
That is why it is important to compare the payday loan APR with the APR on a credit card, personal loan, or credit union alternative. Even if the payday fee seems small in dollars, the annualized cost can still be dramatically higher than other forms of credit.
What this calculator does not model
This page keeps the model intentionally simple. It does not add rollover fees, late fees, NSF fees, partial payments, or lender-specific state-rule variations. If a payday loan is renewed or extended, the real total cost can rise faster than this estimate suggests.
The result is still useful for screening because it makes the fee-per-$100 structure and true APR visible before you commit. If the loan is needed for an emergency, compare the result with cheaper options first and read the lender’s disclosures carefully.
It is a tool that estimates the true APR, total repayment, and fee-per-$100 pricing of a payday loan from the amount borrowed, the flat fee, and the repayment term in days.
How do you calculate payday loan APR?
Divide the fee by the principal, multiply by 365 divided by the number of days in the loan, and then multiply by 100. That annualizes the one-time fee so it can be compared with other credit offers.
Why is payday loan APR so high?
Because the fee is compressed into a very short repayment window. When a flat fee is annualized over only a few days or weeks, the implied APR quickly becomes very large.
What does fee per $100 borrowed mean?
It is the common payday-loan pricing format. A fee per $100 borrowed shows the flat dollar cost for every 100 of principal, which this calculator converts back into APR.
Does APR include rollover or late fees?
Not in this calculator. Those costs can raise the real price of borrowing, but the page keeps the formula focused on the original loan amount, fee, and term so the estimate stays simple and transparent.
What is the total repayment on a payday loan?
The total repayment is the principal plus the fee when the loan is repaid on time. For example, a 500 loan with a 75 fee requires 575 to be repaid.
Is a payday loan repayment calculator the same as an APR calculator?
Not exactly. A repayment calculator can show the amount due, while an APR calculator annualizes the fee so you can compare payday loans with other forms of credit.
Can you pay a payday loan off early?
Some lenders allow early repayment, but the rules vary. Check the contract before borrowing because early payoff, refinancing, or extension rules can change the total amount you owe.
What should I compare before taking a payday loan?
Compare the payday APR with a credit card, personal loan, credit union option, employer advance, or any emergency savings you already have. The lowest-cost alternative is usually the safer choice.
What are safer alternatives to payday loans?
Depending on your situation, a credit union small-dollar loan, a personal loan, a credit card cash advance, an employer advance, or a payment plan with the biller may be cheaper than a payday loan.
