Payday Loan Cost Calculator
See the true cost of payday loans — and why they're so expensive
// True APR
A R15/R100 fee for 30 days translates to an annual percentage rate of roughly 391%. That's 25x more expensive than a typical personal loan at 15% APR.
// Rollover Trap
If you can't repay on time and roll over, each cycle adds the full fee again. Two rollovers on a R2,000 loan can mean paying R900+ in fees on a R2,000 loan.
// Alternatives
Before a payday loan, try: negotiating with creditors, borrowing from family, credit union loans, employer salary advances, or a small personal loan from your bank.
// SA Regulations
The NCA caps short-term loan interest at 5% per month + initiation and service fees. Despite caps, the effective cost remains extremely high compared to any other credit product.
// How to Use Online Payday Loan Cost Calculator
- Enter or paste your source data into the tool input.
- Click the primary action button to run Online Payday Loan Cost Calculator.
- Review the output, then copy or export your result.
// FAQ: What does Online Payday Loan Cost Calculator do?
Online Payday Loan Cost Calculator helps you see the true cost of payday loans — and why they're so expensive in your browser with instant results.
// FAQ: How do I use Online Payday Loan Cost Calculator?
Paste or type your input, choose the needed action, and copy the generated output when the result is ready.
// FAQ: Is my data safe when using Online Payday Loan Cost Calculator?
Yes. Processing runs in your browser session for this page, so your content is not uploaded by this tool workflow.
// FAQ: Can I use Online Payday Loan Cost Calculator on mobile devices?
Yes. Online Payday Loan Cost Calculator works on modern mobile browsers, so you can run it from phones and tablets.