Helps you work out:
- how much you will pay in fees
- how much the payday loan will cost you in total
- how much your fortnightly repayments will be
Before you take out a payday loan:
- See if a payday or small amount loan is your best option
- Find out about no or low interest loans
- Get help from a financial counsellor
- This is a model, not a prediction. Amounts are estimates only, actual amounts may be higher or lower.
- Results are based on information you have provided and do not take your personal circumstances into account.
- It is not intended to be your sole source of information when making a financial decision. You may wish to consider getting advice from a licensed finance professional.
- Using this calculator does not guarantee you will be eligible for a loan. You will need to satisfy your lender's lending criteria.
- Fees do not change for the life of the loan.
- Monthly fees are assumed to apply for each commenced month, for example, if you borrow an amount of money for 70 days you will pay three times the monthly fee.
- The maximum Establishment fee your lender is allowed to charge is 20% of the amount borrowed. The maximum monthly fee your lender is allowed to charge is 4% of the amount borrowed each month.