FreeByte

Payday loan cost calculator

The annualised cost of short-term credit.

Built and reviewed by Dovanic, Founder and editor, FreeByteLast reviewed: 2026-08-18
$
$

Effective APR

391%

Repay

$460

With these inputs, effective APR comes to 391%. Repay works out to $460.

Cost per $100
$15
If rolled over 6 times
$360

What moves the number · Effective APR

Input−10%Now+10%
Borrowed435%391%356%
Fee352%391%430%
Days to repay435%391%356%

Solve for an input

Whatmakesequal

Compare scenarios

Save this set of inputs, change something, then save again to compare the outcomes side by side.

The annualised cost of short-term credit.

A worked example

Starting figures

Borrowed
$400
Fee
$60
Days to repay
14

What it returns

Effective APR
391%
Repay
$460
Cost per $100
$15
If rolled over 6 times
$360

How to read the results

With the defaults above, effective apr works out at 391%.

Related calculators

Cosigner exposure calculatorArrears repayment calculatorUtilisation improvement calculatorDiscount points calculatorBuy now pay later calculatorPersonal loan cost calculator