Loan Calculator: Estimate Fees, APR and Repayment
Use these tools to turn a loan offer into numbers you can compare. Enter the actual amount, fee, APR and term shown by a lender whenever possible. The calculator does not determine approval or replace the lender's disclosures.
Short-Term Loan Cost Calculator
Estimate a finance charge, total repayment and annualized APR for a payday loan or other short-term cash advance.
APR is annualized from the amount, finance charge and number of days you enter. The lender's disclosed APR controls.
Installment Loan Payment Calculator
Estimate a fixed monthly payment for an amortizing installment loan.
Compare Two Short-Term Loan Offers
Enter the same amount and the fee/term for two offers. The tool compares total repayment and estimated APR side by side.
Offer A
Offer B
| Metric | Offer A | Offer B |
|---|---|---|
| Finance charge | $45.00 | $36.00 |
| Total repayment | $345.00 | $336.00 |
| Estimated APR | 391.1% | 146.0% |
How to Read the Results
- Finance charge is the dollar cost added to the amount borrowed in this estimate.
- Total repayment is principal plus the finance charge or estimated interest.
- APR annualizes the cost so short-term offers can be compared on a common basis.
- Monthly payment is an estimate for an amortizing installment loan and can differ if a lender adds fees or uses a different payment schedule.
Before You Apply
- Compare the total dollar repayment, not just the amount you receive.
- Check the lender's APR, finance charge, payment schedule and due date.
- Review late-payment, returned-payment, rollover or renewal rules where applicable.
- Check whether the product is available and permitted in your state.
- Make sure the repayment amount fits your budget without requiring another loan.
Loan Calculator FAQ
What does the short-term loan calculator estimate?
It estimates the finance charge, total repayment, cost per $100 borrowed and an annualized APR from the values you enter.
Is the APR shown here the lender's official APR?
No. It is an estimate for comparison. Use the APR and finance charge disclosed by the lender before accepting credit.
Why can a short-term loan show a high APR?
APR annualizes borrowing costs. A fee charged over a short period can translate into a high annualized percentage.
Can I calculate an installment loan here?
Yes. The installment calculator estimates a fixed monthly payment, total interest and total repayment using the amount, APR and number of months.
Does the calculator tell me whether I will be approved?
No. It performs arithmetic only. Eligibility, approval, rates, fees and funding are determined by providers and applicable law.
Sources and Method
The short-term APR estimate uses a simple annualization of the finance charge relative to principal and term. The U.S. Consumer Financial Protection Bureau explains that payday-loan finance charges are often quoted as a dollar amount per $100 borrowed and that APR can help compare costs across credit products. See CFPB: payday loan costs and fees and CFPB: APR and payday loans.