# Payday Loan Cost Calculator 2026 — State-Adjusted, Embeddable | Fenix Loans > Calculate the real dollar cost of a payday loan in your state. Compares APR, fees, and four cheaper alternatives instantly. Free journalist embed widget. Источник: https://fenixloans.com/tools/cost-calculator/ --- Updated quarterly · 50-state compliance matrix # Payday Loan Cost Calculator 2026 Type your state, amount, and term. We compute the legal-maximum cost in actual dollars, the effective APR, and the four cheapest alternatives — instantly. No personal information collected. Free to embed in your newsroom. **Quick answer.** A $400 payday loan for 14 days costs roughly $360 in interest in Texas (~660% APR), $52 in Illinois (36% APR cap), $0 in New York (banned). The same $400 borrowed from a federal credit union's Payday Alternative Loan (PAL) over 6 months costs about $35 total. The dollar gap is real and state-driven. State Amount Term Product type Payday advance (TX) $528 ~661% APR · single payment Cash advance via credit card $418 ~30% APR + fee · 30 days Early wage access $405 $5 flat fee · next paycheck Credit union PAL loan $435 28% APR · 6 months Payday (TX) $528 CC cash advance $418 EWA app $405 PAL credit union $435 Employer advance $400 [See my options](/apply/) Embed this widget How we calculate **On this page** Why does my calculator result look so different from the "APR" percentage? Am I borrowing the right amount? Did I pick the right state setting? How do I actually use the results to save money? What if I've already started the application somewhere else? FAQ PB **[Priya Bauer, AFC®](/authors/priya-bauer/)** · Reviewed by [Sophia Petrov, CFP®](/authors/sophia-petrov/) Published May 12, 2026 · Last reviewed May 24, 2026 · ~1,900 words · 8 min read Our calculator turns your loan amount and state into a hard dollar figure you can compare against your actual alternatives. Most borrowers get the math wrong in predictable, expensive ways—this guide tracks those mistakes so you leave with the true cost, not a surprise. ### The Numbers Behind the Sticker Shock - On a 14-day loan, 661% APR is technically correct—but "$528 to repay a $400 loan" is what lands in your gut. - [California](/state/california/) caps fees at $17.65 per $100; [Texas](/state/texas/) runs a stacked CAB model around $22.10 per $100. - Eighteen states cap small-dollar loans at 36% APR or ban them outright—hit one and our calculator overrides your inputs automatically. - Ohio flipped in 2018: 28% APR cap, $20 monthly maintenance fee max, 60-day minimum term—borrowers still confuse this with the old rules. - Colorado and Illinois joined the 36% cap club in 2018 and 2021 respectively—[Illinois](/state/illinois/) via the Predatory Loan Prevention Act. - Earned wage access runs $3–$5 per advance—compare that to $88 in fees on a Texas CAB loan for the same $400. ## Why does my calculator result look so different from the "APR" percentage? The first mistake: treating APR as the cost you actually feel. On a 14-day loan, 661% APR is technically correct—but that's regulatory vocabulary, not household budgeting reality. What hits your checking account is the flat fee structure your state permits. [Texas](/state/texas/) borrowers see this most starkly. The CAB model stacks fees that top out around $22.10 per $100. On a $400 loan, that's roughly $88 in fees, $488 total repayment in 14 days. The 661% APR figure describes the annualized cost of that fee compressed into two weeks—not the dollar amount leaving your account. Our calculator shows both. Use the APR for comparison shopping across loan types. Use the total repayment figure to decide whether you can actually afford this. ## Am I borrowing the right amount? The second mistake: matching the loan to your total shortfall instead of your true gap. If rent is $800 and you can sell $200 of gear this weekend, you don't need $800—you need $600. Here's the math: Every $100 you shave saves real money at these fee rates. At California's $17.65 per $100, borrowing $600 versus $800 cuts your fee from $141.20 to $105.90. That's $35.30 for the same problem solved, just with a smaller number punched into the calculator. Before you input any figure, run a quick inventory: liquidateable assets, employer advance eligibility, bills you can legitimately defer. Only the net gap belongs in the loan field. ## Did I pick the right state setting? The third mistake: assuming last year's rules still apply. [Ohio](/state/ohio/) borrowers frequently don't realize their state flipped in 2018. House Bill 123 ended single-payment payday loans entirely. What exists now is installment lending: 28% APR cap, $20 monthly maintenance fee maximum, 60-day minimum term. If you're using an Ohio zip code but remembering pre-2018 math, you'll underestimate your approval odds and overestimate your costs. Our calculator pulls the current regime automatically—but only if you've selected Ohio, not a neighboring state you think shares the same rules. [Illinois](/state/illinois/) changed in 2021 with similar force: the Predatory Loan Prevention Act hard-caps at 36% APR. Older bookmarks or forum advice won't reflect this. Double-check your state selection; the fee structures diverge sharply enough that Texas and California spit out different numbers for the same $300 entry. ## How do I actually use the results to save money? The fourth mistake: looking at the payday loan result in isolation. Our calculator layers alternatives for a reason. Here's your three-step reading protocol: 1. **Check the total repayment figure first.** Can your next paycheck cover this without cascading shortfalls? If not, stop here—this loan deepens the problem. 2. **Compare the gap to alternatives.** NCUA PAL II loans cap at 28% APR across 1–12 month terms, with a $20 application fee. If the difference between payday repayment and PAL total cost sits under $20, the speed premium is defensible. Between $20 and $100, question whether your need is truly emergency-level. 3. **Check the timing.** PAL II funding runs 1–3 business days. Earned wage access hits same-day to 24 hours at $3–$5 per advance. [Florida](/state/florida/) and other states have emerging employer-linked programs. Rarely is triple-digit cost worth it if any alternative reaches you in 48–72 hours. ## What if I've already started the application somewhere else? The fifth mistake: sunk-cost fallacy with loan applications. If you're mid-process elsewhere but haven't signed, run our calculator anyway. [This guide to managing existing payday loans](/guides/already-have-a-payday-loan/) applies even to "almost-borrowers"—you're not committed until the funds hit your account. Use our result as leverage. Call your prospective lender and ask what their total repayment figure is for your amount and term. If they won't give a straight number, that's data too. [Our application process](/apply/) front-loads this figure for exactly this reason. ## FAQ Why does the calculator show 36% APR when I entered something higher? Eighteen states—including Colorado, Illinois, Nebraska, and the District of Columbia—either cap small-dollar loans at 36% APR or ban them completely. Our matrix updates within 14 days of any state announcement, and overrides illegal inputs automatically. You're seeing the legal maximum, not a glitch. I borrowed in Ohio before 2018. What's different now? Everything. House Bill 123 prohibits single-payment loans. Current Ohio loans must be installment structure with 28% APR cap, $20 monthly maintenance fee maximum, and 60-day minimum term. Your old two-week $400 loan with ~$60 in fees no longer exists legally in-state. Is earning wage access really that much cheaper? On a Texas CAB loan, $400 at ~$22.10 per $100 means repaying roughly $488 in 14 days. That's $88 to solve a problem that might cost $5 through an earned wage access app. The $5 EWA fee closes the same gap without the debt trap. The catch: you need qualifying pay frequency and employer partnership. Why don't I see PAL II loans as an option in my state? NCUA PAL II rules (28% APR max, $20 application fee, 1–12 month terms) apply to federal credit unions, not state availability. You'll need membership at a participating credit union. Our calculator notes this where relevant—PAL II isn't universally accessible, just mathematically superior where it exists. The calculator says I'll owe $528 on $400. How do I check that math? On a 14-day Texas CAB loan at ~$22.10 per $100: $400 ÷ $100 = 4 units. 4 × $22.10 = $88.40 in fees. $400 principal + $88.40 = $488.40. The $528 figure you may be seeing includes additional state-specific add-ons or a longer term—click the fee breakdown toggle to see line items. Always verify the principal-plus-fees total, not just the APR. #### Smart borrowing advice Prior to agreeing to a payday loan, get written answers from the provider for these two queries: "What is the full sum I must pay back?" and "Is a no-cost Extended Payment Plan available?" --- #### Most affordable choice Federal credit union PAL · Maximum 28% APR · Money arrives in 1–3 days 28% PAL APR cap $5 Typical EWA fee --- [See my options](/apply/) Built for citation ## Newsrooms, librarians, financial counselors — embed it free. Copy the iframe snippet. Updates automatically when the matrix refreshes. Attribution required, no commercial resale. Copy embed code