What’s the real cost behind a payday loan?
Calculate yours below.
That amounts to an extra $ on top of what you initially borrowed.
|Your loan was for:||(s)|
|We used an establishment fee (the maximum the law allows) of:||$.00 (20% of the amount you borrowed)|
|We used a monthly fee of (the maximum the law allows):||$.00 (4% per month)|
|Your repayments will be:||$ per|
This calculator uses the formula for calculation of an annual cost rate set out by s32b of the National Credit Code (National Consumer Credit Protection Act 2009 – Schedule 1) and rounds to the nearest percentile.