basic

Payday Loan APR Calculator

Effective annual rate on a payday-style fee loan.

Compute the effective annual percentage rate (APR) of a payday loan from the principal, the fee charged, and the term in days, using APR = (fee / principal) · (365 / days) · 100.

Nadia Almasri By Nadia Almasri
Published Last reviewed 1 min read

Inputs

$
$
day

Results

Enter values and click Calculate to see results.
Was this helpful?

How to use this calculator

  1. Fill in the inputs above using the units you already have.
  2. Values update automatically as you type — no submit button needed.
  3. Hover any result row for the underlying formula and intermediate values.

Formula

APR % = (fee / principal) · (365 / days) · 100

In depth

Compute the effective annual percentage rate (APR) of a payday loan from the principal, the fee charged, and the term in days, using APR = (fee / principal) · (365 / days) · 100.