What happens if a borrower rolls over a payday loan?

Rolling over a payday loan incurs new fees every two weeks without reducing the principal balance, trapping borrowers in high-interest debt.

What are safer alternatives to payday loans?

Payday Alternative Loans (PALs) from federal credit unions (capped at 28% APR), 0% interest paycheck advances, or personal emergency loans.

USAPayday Loan True APR & Total CostFinance & Salary

US Short-Term Payday Loan Fee to True APR & Rollover Cost Calculator

Convert flat payday lender fees ($15 to $30 per $100 borrowed) into true annualized percentage rate (APR typically 391% to 780%) and calculate compounding debt costs if the loan is rolled over across multiple pay cycles.

Loans & Credit Debt & Obligations Finance & Investment

Calculator Inputs

Live Real-Time

Loan Principal Amount Borrowed ($)

Quick select:

Lender Fee per $100 Borrowed ($/100)15 %

10 %35 %

Loan Term (Days Until Next Payday)14 days

7 days31 days

Number of Times Loan is Rolled Over (Renewed)1 times

0 times12 times

Calculated ResultPayday Loan True APR & Total Cost

True Annual Percentage Rate (APR %)

391.07%

Total Cash Repaid (Principal + All Cumulative Rollover Fees)

520 %

Total Finance Fees Paid

120 %

Detailed Calculation Breakdown

Single 14-Day Fee

60 %

True APR

391.07 %

Cumulative Fees

120 %

Calculation Methodology

Interest Rate per Period = Fee / Borrowed Amount. True Annualized APR = (Fee / Borrowed Amount) * (365 / Term Days) * 100.

Important Legal & Educational Disclaimer

Under the Truth in Lending Act (TILA), lenders must disclose the APR. Payday loans carry high risk of cyclical debt trap rollover fees.

This calculator is designed for educational and informational purposes only based on public statutory frameworks. The outputs do not constitute binding financial, tax, or legal advice. We assume no liability for decisions made based on these estimations. Always verify with the relevant official authorities or a certified professional advisor.

Frequently Asked Questions

A $15 fee on a $100 14-day loan sounds like 15%, but annualized across 26 two-week periods in a year, it translates to nearly 400% APR.

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US Short-Term Payday Loan Fee to True APR & Rollover Cost Calculator

Calculator Inputs

Detailed Calculation Breakdown

Calculation Methodology

Important Legal & Educational Disclaimer

Frequently Asked Questions

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