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Payday Loan Calculator
True APR and total cost of a short-term payday loan.
Enter values to see your result
Frequently asked questions
Why is payday loan APR so high?
A ₹500 fee on a ₹5,000 loan for 14 days is 10% for 2 weeks — which annualises to over 260%. Short duration × flat fee = huge APR.
Are payday loans legal in India?
Short-term instant loans exist (e.g. salary advances) but RBI regulates digital lenders strictly. Always check the lender is RBI-registered to avoid predatory apps.
What is a better alternative?
Personal loans (even with high rates) are 10–20x cheaper in APR. A credit card cash advance or employer salary advance usually beats payday loans too.
Can payday loans hurt my credit?
Yes, especially if you roll them over or default. Many payday lenders report to credit bureaus, and rolling balances signal financial distress.