Payday Loan Calculator
Looking to get a Payday Loan? Try out the Max Cash Payday Loan Calculator to see what your estimated payments would be. Max Cash calculators make it easy to understand the cost of borrowing before you commit.
- Payday
- Personal
- Emergency
- Installment
- Cash Advance
Calculate Your Payday Loan Estimate Below
| Month | Principal | Interest | Total Paid | Unapplied |
How to Use the Payday Loan Calculator
Take the guesswork out of borrowing—this calculator shows you what to
expect based on your payday loan terms.
Loan Amount
Enter the amount of money you plan to borrow as your payday loan.
Payment Duration
Select how many days you will take to pay back your loan.
APR (%)
Input the annual percentage rate (APR) applied to your payday loan.
What is a Payday Loan & How Can Max Cash® Help You Get One?
A payday loan is a short-term loan meant to cover expenses until your next paycheck. It’s typically easy to qualify for but comes with higher fees and shorter repayment terms.
Max Cash connects you with licensed payday lenders through a quick online application, helping you get fast cash when you’re in a financial pinch—with no hidden steps or long wait times. 2 3
Payday Loan Calculator
Frequently Asked Questions
It depends, but the interest rate on a payday loan is not calculated the same as an amortized annual percentage rate (APR) that you will find with personal loans and other installment loans, but lenders are still required to disclose the APR in your loan agreement.
In order to learn how to calculate APR on payday loans, you need to know the total loan fees. The APR calculation for a payday loan is to take the principal amount borrowed and divide that number by the cost of the loan fees (such as origination fees). Once you have that calculation, multiply that number by 365, then divide by the loan term and multiply the result by 100. For example, let’s say that you borrow $400 through a payday loan and your loan term is 14 days. If the loan fees are $35, the payday loan calculator will show that the APR is 228%.
The payday loan calculator can be used to show what a $1,000 payday loan would cost, but you must have an estimated loan fee and the length of the repayment period to get your answer. Let’s say that you want to borrow $1,000 through a payday loan and your estimated loan fees are $15 for every $100 borrowed. If you have 30 days to repay the loan, it would cost you $1,150 in total, which means you paid $150 to borrow the money through a payday loan to pay bills or handle unexpected expenses.
The total amount you will repay through a $500 payday loan will depend on your loan terms, including the length of the repayment period and the fees associated with borrowing money through a payday loan lender. The payday loan calculator can help! Simply enter the amount of funds you intend to borrow ($500), the days or months you have to repay the loan, and what the estimated finance charges are to borrow the funds.
The finance charge on a payday loan is often known as the loan fee, and it is usually a percentage of the amount you intend to borrow. For example, some payday loan lenders change $10 for every $100 borrowed.3 4
Generally, it’s not recommended. Check out our cash advance calculator to get a better estimate of what the repayment process will look like for cash advances!4 5