# Payday Loan Cost Calculator 2026 — State-Specific & Embeddable | SB Loan > Calculate the real dollar cost of a payday loan in your state. Compare APRs, fees, and four lower-cost alternatives instantly. Free embed widget for journalists. Источник: https://sbloan.net/tools/cost-calculator/ --- Updated quarterly · 50-state compliance matrix # Cost Calculator for Payday Loans 2026 Enter your state, loan amount, and term length. We calculate the maximum legal cost in real dollars, the effective APR, and the four most affordable alternatives — immediately. No personal data required. Free embedding for your newsroom. **Quick answer.** A $400 payday loan for 14 days costs roughly $101 in interest in Texas (~661% APR), $6 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) $501 ~661% APR · single payment Credit card advance $418 ~30% APR + fee · 30 days Earned wage advance $405 $5 flat fee · next paycheck Credit union PAL loan $435 28% APR · 6 months Payday (TX) $501 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** Dollars vs. APR How we compute costs Reading your results Alternatives compared State-by-state nuances Embed for journalists Data download What it won't tell you FAQ AV **[Andre Vargas, AFC®](/authors/andre-vargas/)** · Reviewed by [Rachel Nakamura, CFP®](/authors/rachel-nakamura/) Published May 12, 2026 · Last reviewed May 24, 2026 · ~1,900 words · 8 min read This tool shows exactly what you will pay to borrow money until your next paycheck. Enter your loan amount and your state, and you will see the total repayment cost, the fee per $100 borrowed, and how that compares to four cheaper alternatives. The numbers change automatically based on where you live, because each state sets its own rules. ### What shapes your result - Alabama permits up to $17.50 per $100 borrowed; California stops at $17.65; Texas allows roughly $22.10 per $100 every 14 days through its Credit Access Business structure. - Eighteen states — including Colorado, Illinois, Nebraska, and the District of Columbia — either ban these loans entirely or enforce a 36% APR ceiling on small-dollar consumer credit. - When a 36% cap is active, the calculator ignores any higher fee you enter and computes at 36% APR. - Ohio rewrote its rules in 2018: loans must now run at least 60 days, carry a 28% APR ceiling, and charge no more than $20 per month in maintenance fees. - Colorado voters approved Proposition 111 in 2018, setting a 36% APR cap that mirrors the federal Military Lending Act's limit for active-duty service members. - When laws change mid-cycle, SB Loan pushes emergency updates within 14 days of the regulator's announcement. ## How do I use this calculator? Start with two pieces of information: how much cash you need, and which state issued your driver's license. The calculator does the rest. First, move the slider or type the dollar amount you want to borrow. Most people request between $200 and $500. Next, select your state from the dropdown menu. The tool immediately applies the correct legal ceiling for your jurisdiction. The screen splits into two panels. The left side shows your payday loan cost: the fee you will pay, the total repayment amount, and the date that payment comes due. The right side lists four alternatives, each with its own total cost and speed of funding. You can compare all five options side by side without leaving the page. Some states allow you to adjust the loan term. If yours does, you will see a third field. A 14-day term is standard, but certain jurisdictions permit 30 or 31 days. The calculator recalculates automatically when you change any input. Calculator courtesy of [SB Loan](/apply/) ## What do the numbers actually mean? The calculator gives you three benchmarks to judge whether the payday option makes sense for your situation. **Under $20 more than the cheapest alternative:** Paying for speed can be justified. If the payday loan costs $18 more than a credit union loan but the credit union needs three business days and your rent is due today, the extra cost buys peace of mind. **Between $20 and $100 more:** The alternative wins in nearly every case. The exception is timing. If your paycheck arrives tomorrow and the cheaper option cannot deliver funds in time, you may still choose speed — but you should recognize you are paying a premium for hours, not days. **Over $100 more:** Choosing the payday loan is rational only if every other door is closed. This threshold signals that you are paying triple-digit equivalent costs for a short-term convenience. Before accepting it, verify whether your HR department offers a same-day hardship advance, your utility grants a 14-day grace period, or your landlord allows a 5-day rent extension. Seeing "$501 to repay a $400 loan" lands differently than reading 661% APR. The calculator shows both figures because each serves a purpose. The dollar amount answers "Can I afford this?" The percentage answers "How expensive is this compared to other credit?" Neither number tells the whole story alone. ## Why does my state change the result? Payday lending is regulated at the state level, not the federal level. This means the same $400 loan can cost $70 in one state and $88 in another. Here is how three states differ: - [Texas](/state/texas/) uses a Credit Access Business (CAB) structure. A CAB fee stacks onto the small-lender charge. The legal maximum runs roughly $22.10 per $100 every 14 days in our records. On a $400 loan, that is approximately $88.40 in fees. - [California](/state/california/) stops at $17.65 per $100. The same $400 loan carries about $70.60 in fees. - [Ohio](/state/ohio/) rewrote its rules in 2018 via House Bill 123. Loans must now be structured as installment products, carry a 28% APR ceiling, charge no more than $20 per month in maintenance fees, and run for at least 60 days. This was a significant borrower victory, though confusion with the pre-2018 regime persists. Some jurisdictions set the single-loan cap at 30 days, others at 31. Certain states mandate an Extended Payment Plan (EPP) once per 12-month period, allowing you to stretch repayment without additional fees. The calculator notes these features when they apply to your selection. [Illinois](/state/illinois/) enacted the Predatory Loan Prevention Act in 2021, imposing a 36% APR limit on all consumer loans. When such a cap is active, the calculator ignores any higher fee you enter and computes at 36% APR. This prevents the tool from displaying illegal rates. ## What are the four alternatives listed? The comparison panel draws from three sources: National Credit Union Administration (NCUA) PAL II guidelines, Consumer Financial Protection Bureau guidance on earned wage access, and standard credit card terms. Here is how each works. ### Credit union payday alternative loans (PALs) The NCUA launched this program in 2010. PAL I caps cost at 28% APR. The 2019 PAL II update keeps the same 28% APR ceiling but stretches the term to 1–12 months and raises the maximum loan amount. Funds typically arrive in 1–3 business days. You must be a credit union member to apply, though many credit unions offer same-day membership. ### Earned wage access (EWA) This service lets you tap wages you have already earned but not yet received. Expect to pay $3–$5 for each advance, or a flat $9.99 monthly subscription. Most providers cap advances at $100–$500 per pay cycle. The money often arrives within minutes. EWA is not a loan — you are accessing your own earnings early — so no interest accumulates. ### Credit card cash advance Nearly every card allows you to pull cash at the card's specific cash-advance APR — usually 25–30% — plus a transaction fee of 3–5%. This is expensive credit, but it spreads repayment over months rather than demanding full payment in two weeks. The calculator shows the total cost if you carried the balance for the same length as the payday loan term. ### Employer or community assistance Many major employers provide same-day, interest-free advances of $200–$1,000 against upcoming payroll. Outside the workplace, United Way 211, Modest Needs, and various faith-based coalitions offer small emergency grants. These carry zero cost but require time to locate and apply. ## How do I decide after seeing my results? Follow this sequence before committing to any option. 1. **Verify the deadline.** When exactly is the bill due? Does "due" mean a late fee, or does it mean service disconnection? A $25 late fee beats a $75 loan fee. 2. **Ask for more time.** Call your creditor. Many utilities grant 14-day grace periods. Some landlords accept 5-day extensions without penalty. Medical providers often offer zero-interest payment plans. 3. **Check your workplace.** Ask HR about same-day hardship advances. These are increasingly common and carry no cost. 4. **Calculate the true cost of speed.** If you need funds in hours, not days, the calculator shows exactly what that speed costs. Decide consciously whether the hours are worth the premium. 5. **Consider the cycle risk.** If repaying this loan leaves you short for next month's bills, you may need to borrow again. [Our guide for people who already have a payday loan](/guides/already-have-a-payday-loan/) explains how to break that pattern. 6. **Document your choice.** Screenshot your calculator results. If a lender quotes a higher fee than the tool displays, ask why. The calculator reflects current law; any deviation deserves explanation. ## Why does the calculator show APR at all? That percentage is mathematically true for a 14-day term, yet it fails the intuition test. Most borrowers do not hold these loans for a full year, so the annualized figure describes a scenario that will not occur. However, APR serves one crucial purpose: it allows comparison across completely different products. A 28% APR credit union loan and a 661% APR payday loan are measured on the same scale, even though neither runs for a full year. The calculator displays APR so you can see the relative cost, but it leads with dollar amounts because those match your actual decision. That habit — leading with APR — hides the real decision: whether spending those specific dollars makes sense for your cash shortfall, or whether a $5 EWA fee handles the gap without trapping you in a cycle. The calculator corrects that habit by showing both figures, clearly labeled, with dollars first. ## Frequently asked questions Why is my result different from what the lender quoted me? Three possibilities: the lender operates under a different legal structure (some online lenders use tribal or offshore frameworks); your state changed its rules recently and the lender has not updated disclosures; or the lender is adding optional products like credit insurance. The calculator reflects state-licensed, storefront-style lending. Ask your lender to itemize every charge and compare it line by line against the calculator's breakdown. Can I trust the 36% APR cap states to protect me? The cap protects you from the highest-cost loans, but it also reduces availability. In 36% cap states, you may find fewer physical locations and stricter income verification. The calculator will show 36% APR for your state, but it cannot guarantee you will be approved for any loan at all. It simply displays what legal lending costs if you qualify. What if I need the money faster than any alternative can provide? The calculator acknowledges this reality in its benchmarks. When the spread between payday and alternatives sits between $20 and $100, speed can justify the cost — but only if your paycheck truly arrives before the cheaper alternative would fund. Be honest about the timing. If the credit union loan arrives Wednesday and you get paid Friday, waiting two days saves significant money. Does the calculator check my credit? No. The calculator does not collect personal information, does not access credit reports, and does not affect your credit score. It is a planning tool only. Any actual loan application — whether through [SB Loan](/apply/) or directly with a lender — will involve a credit check or income verification, which may leave a record. Where can I see how my state ranks against all 50? For the complete state-by-state analysis beyond this calculator, consult the 2026 Payday Loan Cost Index, which orders all 50 states by total dollar cost. [Florida](/state/florida/) and other specific state pages also detail local regulations, maximum loan amounts, and cooling-off periods between loans. The calculator updates automatically when laws change. When Ohio rewrote its rules in 2018, or when Illinois enacted its 2021 cap, the tool reflected those changes within 14 days of the regulator's announcement. If your results ever seem out of step with current law, contact us and we will verify against the latest regulatory filings. #### Smart borrowing tip Prior to agreeing to any 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 option Federal credit union PALs · 28% APR maximum · money arrives in 1–3 days 28% PAL APR maximum $5 Average EWA charge --- [View my choices](/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