Compare Small Loan Costs Instantly
See the true cost of payday loans, app-based loans, credit card advances, and installment loans side-by-side. Calculate hidden fees and discover better alternatives.
Important Warning
Some small loans have APRs over 400%. This tool helps you compare true costs and find better options before borrowing.
Step 1: Set Your Loan Amount
How much do you need to borrow?
Tip: Only borrow what you absolutely need. Every extra $100 in short-term loans can cost $20-$50 in fees.
Step 2: Choose Loans to Compare
Select the loan types you want to compare side-by-side:
Payday Loan
Due next payday
App-Based Loan
Earnin, Dave, etc.
Installment Loan
3-24 monthly payments
Credit Card Advance
From existing card
Family/Friend Loan
Personal agreement
Calculating your comparison…
Comparison Results
| Loan Type | Amount | Term | APR | Total Cost | Risk |
|---|
Total Repayment Cost
Total amount you’d repay for a $500 loan:
Risk Assessment
Higher APRs mean higher risk. Consider alternatives for loans with APRs above 36%.
Better Alternatives to Consider
Your Action Plan
Continue Strengthening Your Financial Strategy
Comparing loans is just one step. Explore budgeting tools, debt planners, savings calculators, and income optimization gateways to avoid high-cost borrowing in the future.
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Frequently Asked Questions
Yes. The average payday loan has a 391% APR. Borrowing $500 typically costs $575 to repay in 2 weeks. If rolled over multiple times, fees can exceed the original loan amount.
Credit card advance is usually better, but still expensive. Typical cash advance APR is 25-30% vs 391% for payday loans. However, cash advances start accruing interest immediately and often have 3-5% fees.
Somewhat, but read the details. These apps typically charge “tips” or membership fees. A $100 advance with a $9 “tip” has an APR of 469% if repaid in 7 days. They’re better than payday loans but still expensive.
Important Disclaimer
This tool is for educational purposes only. It provides estimates based on typical loan terms and your inputs. Actual loan terms may vary by lender, state regulations, and your creditworthiness.
We do not provide financial advice. For personalized guidance, consult with a qualified financial advisor or credit counselor.
All calculations are performed locally in your browser for maximum privacy.