Important estimate notice
This tool cannot confirm lender terms or local legal requirements.
Estimated Loan Results
Results update when any input changes.
Original principal$500.00
Primary finance charge$75.00
Extra fees$0.00
Regular interest$0.00
Rollover fees$0.00
Rollover interest$0.00
Late and default charges$0.00
Borrowing days14
Cost percentage0.00%
Fees share of repayment
Illustrative rule warnings
Affordability indicator
CalculatingPayment versus pay0.00%
Remaining monthly cash$0.00
Estimated shortfall$0.00
Maximum affordable loan$0.00
Loan Offer Comparison
Compare four offers using equal loan amounts and durations.
| Offer | Amount | Term days | Fee method | Fee value | Extra fees | Rollovers |
|---|---|---|---|---|---|---|
Comparison values are independent from the main calculator.
| Offer | Cash received | Total cost | Total repayment | Estimated APR | Cost per day | Observation |
|---|
$
Enter the actual total cost.
$
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$
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$
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$
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Alternative comparison
Enter actual costs for a neutral comparison.
Payment Schedule
Review principal, interest, fees, and remaining balances.
| Payment | Date | Opening balance | Principal | Interest | Fees | Late charges | Total payment | Closing balance | Cumulative paid |
|---|
Cost Visualizations
Charts also have text and table equivalents.
Principal versus borrowing cost
Compare the original principal with added costs.
Balance across payments
Track the estimated closing balance.
Closing balance
Rollover cost growth
See how renewal charges accumulate.
Cumulative rollover cost
Income before and after repayment
Compare take-home pay with the required payment.
Scenario Analysis
Apply common situations with one selection.
Saved Calculations and Privacy
Saved records remain inside this browser.
Local browser storage
Avoid saving shared-device financial information.
Formula Used
These simplified formulas explain the displayed estimates.
Fee per one hundred
Finance Charge = Loan Amount × (Fee per 100 ÷ 100)
Total repayment
Total Repayment = Remaining Principal + Financed Fees + Interest + Rollover Costs + Default Charges
Cash received
Cash Received = Principal − Deducted Fees
Simplified effective APR
APR = (Total Borrowing Cost ÷ Amount Financed) × (365 ÷ Total Borrowing Days) × 100
Simple interest
Interest = Interest Base × Periodic Rate × Number of Periods
Compound interest
Interest = Interest Base × ((1 + Periodic Rate)Periods − 1)
Actual disclosures may apply different timing or regulatory methods.
How to Use This Calculator
Follow these steps for a clearer estimate.
- Enter the contractual loan principal.
- Select the currency used by the agreement.
- Add the borrowing and repayment dates.
- Choose the lender's primary fee method.
- Enter every additional disclosed charge.
- Select the applicable interest structure.
- Add expected renewals or partial payments.
- Include possible late and failed-payment charges.
- Enter income and expense information.
- Review totals, APR, dates, and warnings.
- Compare alternative offers using equal assumptions.
- Export or save only when appropriate.
Example Data Table
These examples show how term changes affect annualized cost.
| Principal | Fee per 100 | Term | Finance charge | Total due | Approximate APR |
|---|---|---|---|---|---|
| $300.00 | $10.00 | 14 days | $30.00 | $330.00 | 260.71% |
| $500.00 | $15.00 | 14 days | $75.00 | $575.00 | 391.07% |
| $500.00 | $15.00 | 30 days | $75.00 | $575.00 | 182.50% |
| $800.00 | $20.00 | 21 days | $160.00 | $960.00 | 347.62% |
| $1,000.00 | $12.00 | 60 days | $120.00 | $1,120.00 | 73.00% |
Understanding Short-Term Loan Costs
Clear definitions make loan comparisons more reliable.
Start With the Principal
The principal is the contractual amount borrowed.
It may differ from cash received.
Some charges are deducted before disbursement.
Those deductions reduce usable cash immediately.
Other charges are added to repayment.
Always compare cash received with total repayment.
Understand Fee Pricing
Lenders may state costs in several ways.
A fixed fee stays constant for one loan.
Percentage fees grow with the borrowed principal.
Per-hundred pricing uses a simple proportional charge.
Daily fees grow with every chargeable day.
Weekly fees use full or fractional weeks.
Monthly fees may use different month assumptions.
Confirm the lender's actual calculation method.
Separate Interest From Fees
Interest and fees can appear together.
Simple interest applies a rate without compounding.
Compound interest adds interest upon prior interest.
The selected interest base also matters.
Some agreements use principal only.
Others include financed fees within the balance.
Grace periods can reduce chargeable days.
Minimum charges may override small calculations.
Read APR Carefully
APR annualizes borrowing costs for comparison.
Short terms can produce very large APRs.
A high APR does not equal one fee.
Time strongly affects the annualized result.
Different regulations may define included charges differently.
This calculator uses a simplified effective estimate.
Official lender disclosures should control final comparisons.
Model Renewals Honestly
A rollover usually extends the repayment date.
It may add another renewal charge.
Interest may continue during the extension.
Principal only falls after applied payments.
Repeated renewals can increase total costs quickly.
Use the rollover chart for visibility.
Compare renewed costs against installment options.
Include Default Costs
Late payment can create several charges.
Possible charges include returned-payment fees.
Repeated debit attempts may add more costs.
Bank overdrafts can create separate expenses.
Default interest may accrue each day.
Collection charges can increase the final balance.
Only enter charges supported by the agreement.
Check Affordability
Total cost does not prove affordability.
Compare payment with take-home pay.
Then subtract essential expenses and existing debts.
Include near-term bills before repayment arrives.
A positive shortfall signals repayment pressure.
Smaller payments may still cost more overall.
Review both payment size and total cost.
Compare Equal Scenarios
Use matching principals across loan offers.
Use matching terms whenever possible.
Include every compulsory lender charge.
Do not ignore deducted upfront fees.
Compare total repayment and effective APR.
Also compare cash actually received.
Check whether low payments extend repayment longer.
Verify Local Requirements
Loan rules differ across locations.
Limits can change after publication.
Calculator presets are only illustrative examples.
Verify every limit using current official sources.
Confirm lender authorization before sharing information.
Never treat this estimate as legal advice.
Protect Personal Information
This page stores records only when requested.
Saved records remain in local browser storage.
Shared devices can expose saved calculations.
Delete history after using public devices.
Avoid entering account numbers or identification details.
Use the description field for general notes.
Make a Deliberate Decision
Review every figure before accepting an offer.
Ask the lender about unclear charges.
Request the complete written repayment schedule.
Consider lower-cost alternatives with actual prices.
Check consequences for missed payments.
Keep copies of all disclosures and receipts.
Frequently Asked Questions
Review common questions about payday loan estimates.
How is a payday loan fee calculated?
The fee may be fixed, percentage-based, or priced per hundred borrowed.
What does fee per one hundred mean?
It means each one hundred borrowed creates the stated charge.
Why can the annual percentage rate look high?
Short repayment periods annualize a brief charge across one year.
Does APR equal the stated fee percentage?
No. APR also considers time and relevant borrowing charges.
What is the total amount due?
It includes remaining principal, financed fees, interest, and applicable charges.
Are fees sometimes deducted before disbursement?
Yes. Deducted fees reduce the cash actually received.
What happens during a rollover?
The due date extends while more charges may accumulate.
Does every rollover reduce principal?
No. Principal falls only when a payment is applied.
How are late charges estimated?
The calculator combines selected fixed, daily, and transaction charges.
Can a payday loan use installments?
Some products use installments instead of one lump-sum payment.
Does this calculator verify local laws?
No. Presets are illustrative and require independent legal verification.
Are the calculated results guaranteed?
No. Actual disclosures, contracts, dates, and lender methods control.
Financial Terms Glossary
Use these definitions while reviewing results.
- Principal
- The contractual amount borrowed before charges.
- Cash received
- The usable amount after deducted fees.
- Finance charge
- A cost associated with extending credit.
- Amount financed
- The amount used within APR calculations.
- APR
- An annualized expression of borrowing costs.
- Rollover
- An extension that may add charges.
- Default
- Failure to meet contractual repayment requirements.
- NSF fee
- A charge for insufficient payment funds.
- Installment
- One payment within a scheduled series.
- Simple interest
- Interest without interest-on-interest compounding.
- Compound interest
- Interest calculated upon accumulated balances.
- Effective fee per 100
- Total costs scaled to each hundred borrowed.
- Grace period
- Time before selected charges begin.
- Outstanding balance
- The unpaid amount remaining after payments.
- Affordability
- Ability to repay without harmful shortfalls.