# Payday Loan Cost Calculator 2026 — State-Adjusted, Embeddable | Nimbus 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://nimbusloans.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** Is APR the number I should watch? Do all states charge about the same? Is a payday loan cheaper than my credit card? I don't have alternatives, do I? If I qualify, should I take it? How to read your results Common questions about the calculator Where to go next TH **[Tara Holloway, AFC®](/authors/tara-holloway/)** · Reviewed by [Hannah Schaefer, CFP®](/authors/hannah-schaefer/) Published May 12, 2026 · Last reviewed May 24, 2026 · ~1,900 words · 8 min read This calculator translates confusing percentages into the only number that matters: the dollars leaving your pocket. Slide the bars for your state and loan amount to see exactly what you'll repay and how four cheaper options compare. Borrow $400 in most unrestricted states and you're looking at $528 back—not 661%. ### The numbers behind your result - A 661% APR on a 14-day loan means $528 to repay $400. - Alabama caps fees at $17.50 per $100; California at $17.65; Texas CAB model at roughly $22.10 per $100 per 14 days. - Eighteen states cap small-dollar loans at 36% APR or ban them outright. - Ohio caps loans at 28% APR with a $20 monthly maintenance fee and a 60-day minimum term. - PAL II loans from credit unions max out at 28% APR with a $20 application fee. - Earned wage access typically runs $3–$5 per advance or $9.99 monthly. ## Is APR the number I should watch? No. The APR figure is mathematically accurate for a 14-day loan, but intuitively useless. You do not budget in percentages. You budget in dollars. The calculator front-loads the dollar cost because that is how you actually decide: Is $528 worth solving a $400 gap, or would a $5 EWA fee handle it? The industry's APR-first habit obscures the choice that actually matters. Borrowers make the loan decision in dollars, not percentages. Focus on the hard cash leaving your account. ## Do all states charge about the same? Not even close. In Alabama, the legal cap is $17.50 per $100 borrowed. In California, it is $17.65. In Texas, the Credit Access Business model layers a CAB fee on top of a small lender fee, capping out at roughly $22.10 per $100 every 14 days; see [Texas details](/by-state/texas/) for how this stacks. Meanwhile, eighteen states—including Colorado, Illinois, Nebraska, South Dakota, Montana, New Mexico, and the District of Columbia—cap all consumer loans at 36% APR or ban them outright. Ohio took a different path in 2018, capping loans at 28% APR with a $20 monthly maintenance fee and requiring a 60-day minimum term; see [Ohio specifics](/by-state/ohio/). Illinois followed in 2021 with a straight 36% cap; view [Illinois rates](/by-state/illinois/). Florida is not among the capped states; check [Florida costs](/by-state/florida/). Where the 36% cap applies, our calculator switches automatically to that computation regardless of your input. We refresh the Compliance Matrix quarterly and push emergency updates within 14 days of any regulator announcement. ## Is a payday loan cheaper than my credit card? Almost never. Credit card cash advances charge 25–30% APR plus a 3–5% transaction fee. That beats $528 to borrow $400. The calculator's alternatives layer includes credit cards, PAL II loans (28% APR, $20 application fee, 1–12 month terms), and earned wage access ($3–$5 per advance or $9.99 monthly). PAL I and PAL II were created by the NCUA in 2010 and 2019 respectively. They typically fund in 1–3 business days. If you have plastic in your wallet, compare the numbers before you commit. ## I don't have alternatives, do I? You probably do. Most borrowers who think they have no options have not yet asked their HR about a same-day hardship advance (often $200–$1,000), their utility about a 14-day grace period, or their landlord about a 5-day rent extension. The calculator lists four alternatives: credit union PAL II loans, EWA apps with limits usually of $100–$500 per pay period, employer advances, and credit cards. United Way 211, Modest Needs, and faith-based networks also fund small emergency grants. Check these before you pay $528 to borrow $400. ## If I qualify, should I take it? Use the gap rule first. Compare the payday loan's dollar cost to the cheapest alternative. If the gap is under $20, speed may be worth it. If the gap is between $20 and $100, the alternative is almost always the right call—unless your paycheck is genuinely tomorrow and the alternative cannot fund in time. If the gap is over $100, taking the payday loan is a rational mistake only if you have absolutely no other choice. Look at the difference, not the approval. ## How to read your results 1. Select your state. Remember that some cap a single loan at 30 days, others at 31. 2. Enter the amount you need. 3. Read the total dollar repayment, not the percentage. 4. Check the four alternatives column. 5. Apply the gap rule: under $20, $20–$100, or over $100. 6. If the gap is small and you proceed, visit [See my options](/apply/). If you're already stuck, see [the crisis guide](/guides/already-have-a-payday-loan/). ## Common questions about the calculator Why does my result show 36% when I entered a higher fee? Eighteen states cap small-dollar consumer loans at 36% APR or ban them outright. Where that cap applies, the calculator overrides your input and computes at 36%. Why is Texas different from California? Texas uses a Credit Access Business model that layers a CAB fee on top of a small lender fee. The combined cap in our matrix is roughly $22.10 per $100 per 14 days. California caps at $17.65. Check [Texas](/by-state/texas/) and [California](/by-state/california/) for full details. What's an Extended Payment Plan? Some states require lenders to offer an Extended Payment Plan (EPP) every 12 months. This lets you repay in installments without new fees. The calculator notes if your state requires this. How fast is the PAL II alternative? PAL II loans from credit unions typically fund in 1–3 business days. If you need cash same-day, this may not work. I live in Florida. What are my caps? Florida is not among the eighteen states that cap rates at 36%. See [Florida specifics](/by-state/florida/) for current fee structures. ## Where to go next If you want the full state-by-state breakdown beyond the calculator, the 2026 Payday Loan Cost Index ranks all 50 states by total dollar cost. If you want to apply, the form at [See my options](/apply/) takes 30 seconds. If you've already taken a loan and repayment is hurting, the guide at [crisis help](/guides/already-have-a-payday-loan/) walks through your next 72 hours step by step. #### 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. 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