The Payday Loan Calculator shows the cost, interest rate (APR), and total payment for any payday loan. Payday loans are short term loans meant to cover expenses prior to your next paycheck. Use the payday loan calculator to:
- Estimate the cost of a payday loan
- Calculate the Interest Rate
- Compare Payday loan costs from different lenders
Payday Loan Calculator Benefits
The Payday Loan calculator allows you to calculate the interest rate (APR), due date, and total payment for any payday loan. Benefits include the ability to compare different Payday loans and dates to help find the best payday loan company.
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Payday loans work by providing funding for short terms that are repaid with your next paycheck. Typically, payday lenders charge a fixed fee for borrowing money. Entering the fee in the payday loan calculator, along with the loan length will compute the APR. Because if the very short time period, payday loans can have a very high APR.