Calculate the cost of your Payday Loan to compare and find the best lender with the most affordable rates and fees. Use our online Payday Loan calculator, Payday Loan interest rates calculator, Payday Loan APR calculator. Just fill out the necessary amount and the repayment term to learn how much the cash advance will cost. It's free and easy and can save you a lot of money.

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PayDay Loan Calculator

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Select the amount for the loan you want in order to get the principal, which is the basis that we use to calculate the interest and the total cost of the cash advance.
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The number of days within that you will be ready to repay the loan. It’s used to count the total cost of cash advance by multiplying the days by the amount of interest.
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To calculate the total cost of your loan, we take the minimal average APR legal in all States, which is 36%. This figure is only a representative, providing you with general information on how much the loan may cost. To find out a more accurate total, fill in the Annual Percentage Rate required by the lender you want to apply to.
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It’s the money charged by the lender for doing all the necessary paper work, bank transactions, etc., connected with lending you the money.
$ Your loan
+ $ Your fee
= $ Total Cost*

* Total Cost - The sum of money you are to pay off within the term you’ve chosen if you borrow the stated above amount for the average (or required by your lender) APR.

All the calculations are provided as guides only. They don’t guarantee 100% the same cost you are going to be charged but they do help you understand the overpay much better. Unless you change the APR, the calculations will be based on the average or lowest rate represented by most lenders for each loan type. You’ll find the accurate interest rate as well as the real cost of your cash advance after you get approved before you sign the agreement. It will depend on many factors including the amount, the term of the loan, your credit score and the lender’s conditions. Interest rates are not fixed figures and are subject to change at any time. As soon as you fill out an application and get approved all the details concerning the rates and terms will be sent to you.

Table of Contents:

Payday Loan calculator

How is the cost of a Payday Loan calculated?

Why do I need a Payday Loan calculator?

Payday Loan payment calculator

Payday Loan interest rates calculator

How is the interest rate on a Payday Loan calculated?

Payday Loan APR calculator

Сalculate the cost of Payday Loans form the top direct lenders

Payday Loan calculator 

Any time you apply for a Payday Loan it’s essential that you:

  • read carefully the rates and fees you are going to be charged, including the fine print
  • use an online Payday Loan calculator to estimate the cost of your cash advance taking into account the amount and terms
  • compare the prices for your Payday Loan from different lenders

Payday Loan Calculator is an online personal finance assessment tool to determine the Payday Loan interest on the amount you want to borrow. The key terms necessary to compare different payday loan direct lenders are:

  • The principal – the amount you are going to borrow,
  • Repayment term (number of days) – the period within which you are to pay off the loan,
  • The APR – “annual percentage rate, the annual rate charged for borrowing or earned through an investment. APR is expressed as a percentage that represents the actual yearly cost of funds over the term of a loan”.
  • The MPR – monthly percentage rate, which is practically the same as APR but charged for a month. It’s a more important criterion for calculating the cost of a Payday Loan as it’s mostly taken out for a month.
  • The total cost – the amount of money you will have to pay for the loan in total including interest, financial charges, fees.

How is the cost of a Payday Loan calculated?

The formula used to calculate the total cost of a Payday Loan is:

Total cost = Principal + (Principal * (APR: 365 days x number of days): 100%)

For example, if you borrow $100 for 30 days with a representative APR of 35,5%, the total cost will be:

$100 + ($100 * 400%: 365 days * 30 days: 100%) + $7 origination fee = $109

Find out how to take out the Cheapest Payday Loans online.

Why do I need a consumer Payday Loan calculator? 

A consumer Payday Loan calculator will help you to find out:

  • how much you will pay in fees
  • how much the total cost of a payday loan will be
  • how much the APR is
  • how much the financial charges will be
Warning!

What should I be aware of using an online Payday Loan calculator?

  • It’s only a representative model of calculation and actual cost may differ
  • The cost is calculated on the basis of information you provide
  • Don’t make a decision to apply for a loan according to the results of calculations solely. Take other important criteria into account
  • Using a calculator doesn’t guarantee 100% approval for the loan
  • Fees and rates are subject to a change
  • There may be some additional fees such as a verification fee, documentation fee, etc which are not included in the calculations
  • There are certain rules and regulations of financial charges for the loan in each state. Make sure you get to know them and take cash advance only from the licensed lender following these laws.

Payday Loans rates and other features regulations by state.pdf 

Payday Loan payment calculator 

The average payday loan is $375. The interest, or “finance charge”, for a $375 Payday loan would be between $56.25 and $75, depending on the terms stated in the agreement. The maximum finance charge is stated by the state law and can also depend on the lender: usually, it varies from 15% to 20%. All these calculations are conveniently available with the help of an online US Payday Laon calculator. The same way you can use a Payday Installment Loan calculator, Payday Loan amortization calculator, Payday Loan early payoff calculator, Payday Loan compensation calculator, Payday Loan eligibility calculator, etc. Depending on your needs go online and search for the necessary type of service.

Payday Loan interest rates calculator 

The APR is a measurement of the cost of a loan over its repayment term, calculated from the snapshot of the origination date. 

Talking about Payday Loan interest rates, it's not fair enough to speak about APR as Payday cash advance is a short-term loan and there's no sense to calculate the interest for the whole year. That's why the interest you pay on a payday loan is usually called a “finance charge” and it is a simple fee based on the amount you borrow.

For example, if you borrow a $300 payday loan and you're charged $20 per $100 borrowed the interest, or finance charge will be $60.

Calculating the Payday Loan APR is a wise decision that will help you to see how expensive that loan is compared to your other options.

How is the interest rate on a Payday Loan calculated?

The amount of interest paid is calculated by multiplying the amount borrowed by the interest charge.

If you borrow $500 at the rate of 15%, it looks like this:

$500 х 15% / 100% = $75

It means for a $500 cash advance you will pay $75 in finance charges.

Payday Loan APR calculator 

Sometimes you are informed about the cost of a Payday Loan but you don’t know how it was calculated and you want to compare different lending companies. For that, you need to know the APR charged. To calculate the interest rate you are to divide the interest paid by the principal of the loan multiplying that by 365 days and divide that number by the length of the repayment term, and multiply by 100%:

APR = financial charges / principal х 365 /repayment term х 100%

The APR for a $500 loan for 30 days = $75 / $500 х 365 days / 30 days х 100% = 182,5%

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Сalculate the cost of Payday Loans form the top direct lenders

You can choose Payday cash advance with the lowest interest rates with the help of an online calculator. Compare the best direct lenders and find out how much they would charge for the necessary cash loan amount you'd like to get. 

LendYou will help you get the cash you need when you need it. You can apply for Payday Loans, Installment Loans or Personal Loans, etc. Compare the lenders and get matched with the best one.

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Varied
  • Rates and fees: Starting at 4.99% APR
  • Turnaround Time: 1 business day
  • $100 - $1000 Payday Loans
  • $1000 - $5000 Installment Loans
  • $5000 - $35000 Personal Loans
  • 18 years of age or older
  • U.S. citizenship
  • Valid checking or savings account with direct deposit
  • Minimum regular income of $1,000 per month
  • Not be a regular or reserve member of the Air Force, Army, Coast Guard, Marine Corps or Navy (or be a dependent of someone who is,) serving on active duty under a call or order that does not specify a period of 30 days or fewer.
Pros
  • High up to $15,000 loan amounts. 
  • Minimal restrictions on how you can use your loan.
  • No collateral or guarantor.
  • Bad credit is OK. 
Cons
  • It's not a direct lender, so you'll need to clarify rates and terms with the company you are matched with. 

 

Check Into Cash offers Payday Loans, Title Loans, Personal Installment Loans and other money products at affordable rates with convenient repayment. 

  • MIN Loan Amount: $50
  • MAX Loan Amount: $3000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day
  • Payday Loans
  • Online Payday Loans
  • Title Loans
  • Installment Loans
  • Online Installment Loans
  • Line of Credit
  • Flex Loans
  • Other Services
  • Check Cashing
  • Bill Pay
  • Western Union 
  • U.S. Money Card
  • Cell Phone Top-Ups
  • Sell Us Your Gift Cards For Cash
  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
Pros
  • You can get even as low as $50.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
Cons
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees.

 

Greenlight Cash created an online platform to connect consumers like you with reliable lenders across the country. They partner with a large network of professionals so you get a chance to work with one of them and meet the challenge of improving your financial situation in the most effective way. Once you tap submit, you get one step closer to receiving the funds.

  • Payday Loans
  • Installment Loans
  • Personal Loans
  • be a legal U.S. resident
  • be at least 18 years old
  • have a stable source of income
  • be currently employed
  • have an active bank account
Pros
  • Unrivaled flexibility and accessibility.
  • Predictable monthly payments

  • Quick and simplified borrowing process

  • Any credit is welcome
Cons
  • Not a direct lender.

 

GoGoPaydayLoans offers Payday Loans at affordable rates with convenient repayment terms. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $1000
  • Terms: Vary by state.
  • Rates and fees: 261% to 782% APR
  • Turnaround Time: 1 business day

$100 - $1000 Payday Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
  • 21+ years old (19+ in Alabama)
  • Social Security number (for Indiana residents only)
Pros
  • You can get even as low as $100.
  • Quick funding on the next business day.
  • Money can be used for any personal needs.
Cons
  • Not available in every state.
  • APR can be more than 153.73% depending on your state.
  • High late payment fees.

 

PaydayloansUSA.online offers Payday Loans, Installment Loans, Personal Loans and other money products at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $35000
  • Terms: Vary by state.
  • Rates and fees: 4.99% to 1386% APR
  • Turnaround Time: 1 business day
  • Payday Loans
  • Installment Loans
  • Personal Loans
  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
Pros
  • Quick - no driving, waiting, faxing, paperwork.
  • More than 300 direct lenders.
  • High approval rate even for bad credit Payday Loans.
  • Online Payday cash advance with no collateral.
  • 24 / 7 online service.
  • No hard credit check Payday Loans.
Cons
  • High interest rates.
  • Available not in all the states.
  • Not many financial products offered.

 

Indyloan.com offers Personal Loans online at affordable rates with convenient repayment. 

  • MIN Loan Amount: $100
  • MAX Loan Amount: $5000
  • Terms: Vary by state
  • Rates and fees: Varied
  • Turnaround Time: 1 - 2 business day

Personal Loans

  • Active checking account open for 90+ days
  • US citizen or permanent resident
  • Personal and work phone number
  • Valid email address
Pros
  • Quick - no driving, waiting, faxing, paperwork.
  • High approval rate even for bad credit borrowers.
  • Online Payday cash advance with no collateral or co-signer.
  • 24 / 7 online service.
Cons
  • High interest rates.
  • Available not in all the states.
  • Only loans up to $5000 are available.