# Payday Loan Cost Calculator 2026 — State-Adjusted, Embeddable | MeridianWallet > 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://nimblepayday.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 loan (TX) $528 ~661% APR · single payment Credit-card cash advance $418 ~30% APR + fee · 30 days Earned wage access $405 $5 flat fee · next paycheck PAL credit-union 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 dollars beat APR Methodology How to interpret your number The four alternatives, explained State quirks worth knowing Journalist embed Download the data Limits and caveats FAQ CS **[Carmen Schaefer, AFC®](/authors/carmen-schaefer/)** · Reviewed by [Naomi Schaefer, CFP®](/authors/naomi-schaefer/) Published May 12, 2026 · Last reviewed May 24, 2026 · ~1,900 words · 8 min read Our cost calculator translates payday loan fees into the only language that matters: dollars out of your pocket. Use it to compare what you'd actually repay against four cheaper alternatives, then decide whether speed is worth the premium. ### What the numbers actually mean - A 661% APR feels abstract; "$528 to repay a $400 loan" does not. - Borrowers make the loan decision in dollars, not percentages. - In Alabama, the legal-maximum fee is $17.50 per $100 borrowed; in California, $17.65; in Texas, the CAB model caps at ~$22.10 per $100 / 14 days. - Eighteen states cap small-dollar consumer loans at 36% APR or ban them outright. - Where the 36% cap applies, our calculator automatically switches to that computation regardless of your input fee. - Emergency updates to state laws are pushed within 14 days of the regulator's announcement. ## Does APR actually help me decide? No. On a 14-day loan, that number is mathematically accurate and intuitively useless. The personal-finance industry's obsession with APR obscures the choice that actually matters: whether the dollar cost is worth solving your cash shortfall this way, or whether a $5 earned wage access fee solves it instead. The calculator leads with total repayment amount because that's what you'll see leave your account. Here's the tension. A typical two-week payday loan might show 661% APR. That figure assumes you roll the loan over for a full year, which regulators use for comparison but almost no borrower experiences. What you experience is the flat fee: in [Texas](/state-guides/texas/), roughly $22.10 per $100 for 14 days. On a $400 loan, that's $88.40 in fees, $488.40 due on payday. The APR cluster doesn't tell you whether your utility will wait 14 days for $88.40 less. ## How does the calculator know my state's rules? We pull three things from the MeridianWallet Compliance Matrix, refreshed quarterly: the legal-maximum fee per $100 borrowed, the maximum loan term, and whether your state requires lenders to offer an Extended Payment Plan. Some states cap a single loan at 30 days, others at 31. Some require an EPP every 12 months. When you select your state, the calculator applies these guardrails automatically. If you live in one of the eighteen states with a 36% APR cap—Colorado, Illinois, Nebraska, South Dakota, Montana, New Mexico, the District of Columbia, or the fifteen full-ban states—the tool switches to that computation regardless of what fee you try to input. [Ohio](/state-guides/ohio/) illustrates why this matters. The state reformed in 2018 (House Bill 123). Loans must now be installment loans, not single-payment, capped at 28% APR with a $20 maximum monthly maintenance fee and a 60-day minimum term. Borrowers often confuse this with the old pre-2018 rules. The calculator doesn't. [Illinois](/state-guides/illinois/) passed the Predatory Loan Prevention Act in 2021, capping all consumer loans at 36% APR. [California](/state-guides/california/) sits at $17.65 per $100. The tool knows which reality you live in. ## What do the four alternatives actually cost? The alternatives layer pulls from three verified sources: NCUA PAL II rules, CFPB guidance on earned wage access, and standard credit card agreements. 1. **PAL II from a federal credit union:** Created by NCUA in 2019, capped at 28% APR with 1–12 month terms and a $20 application fee. Median funding time: 1–3 business days. 2. **Earned wage access apps:** Typical cost is $3–$5 per advance or a $9.99 monthly subscription. Limits usually run $100–$500 per pay period, with same-day or next-day funding. 3. **Credit card cash advance:** Most cards charge the cash-advance APR (often 25–30%) plus a 3–5% transaction fee. Immediate access, but the interest starts immediately. 4. **Employer hardship advance:** Many large employers offer interest-free same-day advances of $200–$1,000 against your next paycheck. Zero cost, zero credit check. The calculator shows you the dollar gap between your payday loan quote and the cheapest available alternative in your situation. ## How do I interpret the gap? Three rules of thumb, derived from borrower behavior data: - **Under $20:** Speed may be worth it. If the alternative cannot fund until after your due date and the late fee exceeds the premium, the payday loan is rationally priced for your situation. - **$20 to $100:** The alternative is almost always the right call—unless your paycheck is genuinely tomorrow and the alternative cannot fund in time. - **Over $100:** Taking the payday loan is a rational mistake only if you have no other choice. Most borrowers who think they have no other choice have not yet asked their HR about a same-day hardship advance, their utility about a 14-day grace period, or their landlord about a 5-day rent extension. The calculator's gap number assumes you've exhausted these zero-cost options. ## Why does [Florida](/state-guides/florida/) look different from Ohio? Because state law creates different cost structures, not just different APR caps. Florida allows deferred presentment transactions with fees that produce different total costs than Ohio's installment structure. The calculator reflects this without requiring you to know the statutory citation. When you switch states in the dropdown, watch the total repayment change even with identical loan amounts and terms. That's the law working through math. Colorado capped at 36% APR in 2018 (Proposition 111), aligning with the federal Military Lending Act's MAPR cap for service members. The calculator applies this logic wherever the 36% threshold exists. ## What if I've already borrowed and can't repay? The calculator is forward-looking. If you're already in repayment distress, [our crisis guide](/guides/already-have-a-payday-loan/) walks through your next 72 hours step by step. It covers EPP requests, state-by-state collection rules, and how to prioritize which bills actually cannot wait. ## FAQ Why does the calculator show a lower total than my lender quoted? We use the legal-maximum fee from our Compliance Matrix. Some lenders charge less than the cap. If your quote is higher, the lender may be adding optional products like credit insurance, or you may be in a state with different rules than you selected. Double-check your state selection first. Can I trust the alternatives to actually fund me? Funding times vary. PAL II loans typically take 1–3 business days. EWA apps often fund same-day or next-day. Employer advances can be immediate. The calculator shows you the cost; you must verify the speed against your due date. We do not guarantee approval for any alternative. What if my state isn't listed? All 50 states and D.C. are included. If you cannot find yours, check for alternate naming (D.C. vs. District of Columbia) or contact us. Emergency law changes are updated within 14 days of the regulator's announcement. Does using this calculator affect my credit? No. The calculator is entirely anonymous. No credit check, no application, no impact on your score. If you choose to [apply for options](/apply/) through our partner form, that process may involve a credit check depending on the lender. Why does the APR still show if it's useless? Because regulators require it, and because some borrowers want to compare against other products that also disclose APR. We display it, but we lead with total dollar cost because that's what you'll actually pay. Calculator courtesy of MeridianWallet. Data refreshed quarterly; emergency updates within 14 days. Where to go next: For the full state-by-state breakdown beyond what the calculator shows, the 2026 Payday Loan Cost Index ranks all 50 states by total dollar cost. If you're ready to compare live offers, [see my options](/apply/) takes 30 seconds. And if repayment is already pressing, the [crisis guide](/guides/already-have-a-payday-loan/) is built for your next 72 hours. #### Borrower tip Before you accept any payday offer, ask the lender these two questions, in writing: "What is the total dollar amount I will repay?" and "Do you offer an Extended Payment Plan at no extra cost?" --- #### Cheapest alternative Federal credit-union PAL · 28% APR cap · funds 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. 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