Why does the APR look so high?

APR annualizes a short-term fee. A fee that looks small for two weeks can become a very high annualized percentage.

What does fee per $100 mean?

It is the dollar fee charged for every $100 borrowed. A $15 fee per $100 on a $300 loan equals a $45 finance charge.

Does this include rollovers?

No. Rollovers, late fees, NSF fees, and state-specific repayment plans require separate review.

Is this financial advice?

No. It is a cost estimate. Review CFPB resources, state rules, and lower-cost alternatives before using payday credit.

Payday Loan Calculator

Estimate payday loan finance charges, total repayment, fee percentage, and annualized APR from the amount borrowed, fee per $100, and term.

Estimate the finance charge, total repayment, and annualized APR for a short-term payday loan fee.

Amount borrowed ($)

Fee per $100 borrowed ($)

Loan term (days)

What this payday loan calculator estimates

English payday-loan intent is not a daily-interest microloan model. Search results and CFPB materials frame the cost as a short-term fee, often expressed as dollars per $100 borrowed, with an annualized APR for comparison.

Finance charge from amount borrowed and fee per $100.
Total repayment due at the end of the term.
Fee as a percentage of the amount borrowed.
Annualized APR estimate for comparing short-term credit costs.

High-cost credit warning

Payday loans can be expensive and state-specific. Check repayment options, rollover fees, NSF fees, and cheaper alternatives before borrowing.

Payday loan APR formula

F ee = \frac{A m o u n t}{100} \cdot F e e_{100}

Fee_100 is the dollar fee charged for each $100 borrowed.

A P R = \frac{F ee}{A m o u n t} \cdot \frac{365}{D a y s} \cdot 100%

APR annualizes the short-term fee so it can be compared with other credit options.

For example, a $15 fee per $100 for 14 days annualizes to about 391% APR. The actual dollar fee still depends on the amount borrowed and the repayment term.

What is not included

Rollover or renewal fees.
Late fees, NSF fees, ACH fees, or collection costs.
State payday-loan caps, licensing rules, or repayment-plan rights.
Installment payday products with multiple payments.

Frequently Asked Questions

Sources and References

Calculations are based on the listed reference sources. Links open in a new tab.

Updated: June 2, 2026

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