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Estimate payday loan fees, annualized cost, and the effect of rollovers.
Annualized APR
391.07%- Initial fee
- $75.00
- Total fees including rollovers
- $75.00
- Total to repay
- $575.00
- Same amount at 0% with no fees
- $500.00
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Estimates for educational purposes only. Not financial advice. Actual terms depend on your lender.
How it works
The initial fee equals the amount borrowed divided by 100, multiplied by the fee per $100. The annualized APR is the initial fee divided by the amount, multiplied by 365 divided by the loan term in days, then multiplied by 100. Each rollover adds another fee; the balance remains due.
A $500 loan with a $15 fee per $100 for 14 days has a $75 fee, about 391.07% annualized APR, and $575 due. Three rollovers increase total fees to $300 and total repayment to $800.
Frequently asked questions
What does the annualized APR show?
It converts the initial fee and loan term into a yearly rate for comparison. It does not mean the loan lasts one year.
What happens when the loan is rolled over?
This estimate adds the same fee for every rollover while the original amount stays due. Whether rollovers are allowed depends on state law.
Does this include every possible charge?
No. Late fees, bank charges, and other product costs are excluded. Review the lender's agreement.
Why compare it with a 0% loan?
The 0% example shows the same amount borrowed with no interest or fees. Actual nonprofit eligibility and terms vary.
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