How Much Would a $500 Payday Loan Cost?
| Typical fee range on $500 | $50–$150 |
|---|---|
| At $15 per $100 | $75 fee, $575 total to repay |
| Repaid | One payment, usually your next payday |
| Maximum loan | Set by state; $500 is a common cap |
| Need more or a longer term? | Installment loans up to $5,000 via our network |
The cost of $500 at each fee level
Payday lenders quote a fee per $100 borrowed. The CFPB and FTC both describe a typical range of $10 to $30 per $100, and many states cap the fee lower. Here's what that means for a $500 loan:
| Fee per $100 | Fee on $500 | Total to repay |
|---|---|---|
| $10 | $50 | $550 |
| $15 | $75 | $575 |
| $20 | $100 | $600 |
| $25 | $125 | $625 |
| $30 | $150 | $650 |
The fee is usually the same whether your loan runs two weeks or a month, so the dollar total is the number to plan around. Your lender shows the exact APR and terms before you sign.
Fee and total to repay by state
Your state decides whether payday loans are allowed, the largest amount you can borrow and the most a lender can charge. The table below shows each state's rules and cap, so you can see the fee and total to repay where you live.
| State | Payday loans | Max loan | Fee / rate cap | Rollovers |
|---|---|---|---|---|
| Alabama | Legal | $500 per loan. | The fee may not exceed 17.5% of the amount advanced ($17.50 per $100). | One renewal or extension is allowed at the same fee, for a maximum of two continuous transactions. |
| Alaska | Legal | $500 outstanding at one time from a licensee, including all of its locations. | A non-refundable origination fee of up to $5, plus a fee of no more than $15 per $100 advanced or 15% of the advance, whichever is less. | Up to two consecutive renewals, each for at least 14 days and at no higher fees. |
| Arizona | Not available | — | Licensed consumer lenders may charge up to 36% a year on consumer loans of $3,000 or less (lower tiers above $3,000), plus limited allowed… | — |
| Arkansas | Not available | — | 17% per year maximum interest on loans covered by Amendment 89 § 3. | — |
| California | Legal | Your personal check cannot exceed $300. | The fee may not exceed 15% of the check amount ($45 on a $300 check). | Rollovers are prohibited. |
| Colorado | Not available | $500. | 36% APR, all charges included. | — |
| Connecticut | Not available | — | 36% APR (or the Military Lending Act maximum, if lower) for small loans under $5,000. | — |
| Delaware | Legal | $1,000. | No cap. | No more than 4 rollovers of an existing loan. |
| District of Columbia | Not available | — | 24% per year maximum interest. | — |
| Florida | Legal | $500 per single-payment loan (not counting fees). | Single-payment loan: fees may not exceed 10% of the amount provided, plus a verification fee (OFR states this as $5.00). | Not allowed. |
| Georgia | Not available | — | — | — |
| Hawaii | Not available | — | — | — |
| Idaho | Legal | $1,000 per loan, and no more than $1,000 in total outstanding with one lender (plus fees). | No dollar or percentage cap. | A lender may renew a payday loan no more than 3 times in a row; after that the loan must be repaid in full. |
| Illinois | Not available | Payments coming due in the loan's first month, together with your other payday loans due that month, may not exceed the lesser of $1,000 or… | 36% APR on the unpaid amount financed, calculated the all-in Military Lending Act way (finance charges plus fees and add-on products count). | Prohibited. |
| Indiana | Legal | $825 total outstanding with one lender (single or combined loans), and no single loan over 20% of your gross monthly income. | 15% on the first $250; 13% on the part from $250 to $400; 10% on the part from $400 to $825. | Not allowed. |
| Iowa | Legal | A lender may not hold checks from you totaling more than $500 at any one time. | $15 on the first $100 of the check and no more than $10 on each additional $100 (pro rata for part of $100). | Not allowed. |
| Kansas | Legal | $500 cash advance. | 15% of the amount of the cash advance. | A payday loan may not be repaid with the proceeds of another payday loan from the same lender or a related business. |
| Kentucky | Legal | You may have at most two payday loans open at once, and the total cash you receive from all open payday loans may not exceed $600. | The fee may not be more than $15 per $100 of the check's face amount, prorated. | A lender (or its affiliate) may not renew, roll over or consolidate a payday loan for a fee. |
| Louisiana | Legal | For September 1, 2026 to August 31, 2027, the most a lender may pay you on a payday loan (deferred presentment) is $740; a 'small loan' is… | The fee may not be more than 16.75% of the face amount of your check. | Renewals and rollovers are banned. |
| Maine | Legal | Maine law sets no payday-specific maximum loan amount, according to the Bureau of Consumer Credit Protection. | A lender may charge either the general consumer-loan finance charge (30% a year on the first $2,000 and lower tiers above that) or a flat… | Maine law has no payday-specific rollover or renewal limit, according to the Bureau. |
| Maryland | Not available | — | Interest on loans of $2,000 or less is capped at 2.75% a month (33% a year) on the first $1,000 and 2% a month (24% a year) on the rest;… | — |
| Massachusetts | Not available | — | Licensed small loan companies may charge no more than 23% a year on the unpaid balance (actuarial method), plus a $20 administrative fee… | — |
| Michigan | Legal | A licensee may make one payday loan to you for any amount up to $600 (fees not included). | The service fee may not exceed 15% of the first $100, 14% of the second $100, 13% of the third $100, 12% of the fourth $100 and 11% of the… | A lender may not renew a payday loan. |
| Minnesota | Legal | A consumer small loan is $350 or less, and one borrower may not owe more than $350 in total on such loans at one time. | The lender may charge an annual percentage rate of up to 50%, counting all interest, finance charges and fees. | A consumer small loan may not be repaid with the proceeds of another such loan from the same lender (or a related… |
| Mississippi | Legal | Your check (loan plus fee) may not be for more than $500, and you may not have more than $500 in total outstanding, fees included. | No more than $20 per $100 advanced for checks with a face amount up to $250, and no more than $21.95 per $100 advanced for checks over $250… | A lender may not renew or extend a payday check, and a check may not be paid off with the proceeds of another check… |
| Missouri | Legal | Payday loans are loans of $500 or less, and a lender (with its affiliates) may not have more than $500 in payday loans outstanding to you… | Interest and fees are whatever the parties agree to (simple interest), but you can never be required to pay total interest and fees of more… | The lender must renew the loan if you ask in writing and pay the interest and fees due, but each renewal must reduce… |
| Montana | Not available | A payday loan must be at least $50 and no more than $300, not counting the fee. | The fee for making or carrying a payday loan may not be more than 36% a year. | Payday loans may not be renewed or extended for a fee, and a lender may not pay off one payday loan with another. |
| Nebraska | Not available | A lender may not hold checks from one borrower totaling more than $500 at any one time. | A lender may not charge more than 36% APR. | Renewals, rollovers and paid extensions are banned. |
| Nevada | Legal | A payday loan, together with the borrower's other outstanding loans from the lender, may not exceed 25% of the borrower's expected gross… | Nevada sets no cap on the interest rate or fee for a payday loan. | Repaying, renewing or refinancing a payday loan may not stretch the loan past 90 days from the date it was made. |
| New Hampshire | Not available | A borrower may not owe a lender more than $500 in payday loan principal at one time. | APR may not exceed 36%, and interest is the only charge allowed, with no other fees. | Refinancing, renewing or extending a payday loan is prohibited. |
| New Jersey | Not available | — | — | — |
| New Mexico | Not available | — | 36% APR maximum, counting ancillary products, credit insurance and other fees even if federal Regulation Z would leave them out. | — |
| New York | Not available | — | Civil usury cap of 16% a year (loans under $250,000 by non-bank lenders and state-chartered banks); above 25% a year is criminal usury. | — |
| North Carolina | Not available | — | Unlicensed lenders: 16% a year on loans of $25,000 or less. | — |
| North Dakota | Legal | A lender may not give you more than $500 in one payday loan. | The fee may not be more than 20% of the amount the lender pays you. | A loan may be renewed only once. |
| Ohio | Legal | A short-term loan may not exceed $1,000. | Interest is capped at 28% a year. | A lender may refinance a short-term loan only if the new loan stays within the 28% interest cap and no monthly… |
| Oklahoma | Not available | Small loans are capped by the total you may owe across all small lenders. | Interest may not exceed 17% per month. | — |
| Oregon | Legal | — | Interest may not exceed 36% a year. | No more than two renewals. |
| Pennsylvania | Not available | — | No payday fee schedule exists. | — |
| Rhode Island | Legal | The check may not exceed $500, and a lender and its affiliates may hold no more than $500 in total outstanding checks from you. | The deferred deposit fee may not exceed 10% of the amount advanced. | Only one rollover (extending the due date for an extra fee) is allowed. |
| South Carolina | Legal | No more than $550 advanced to you at one time, not counting the fee. | The fee may not exceed 15% of the principal and may be charged only once per agreement. | Not allowed. |
| South Dakota | Not available | — | 36% a year, counting all fees and charges. | — |
| Tennessee | Legal | A lender (and related persons) may hold no more than two of your checks at once, with a total face value of no more than $500. | The fee may not exceed 15% of the face amount of the check. | Not allowed. |
| Texas | Legal via CSO/CAB | — | No state cap on the credit access business fee. | State law does not ban refinancing. |
| Utah | Legal | — | No rate or fee cap in the payday statute. | Rollovers are allowed only if you ask for one, and only within the 10-week limit. |
| Vermont | Not available | — | No payday product is allowed. | — |
| Virginia | Legal | A short-term loan may not exceed $2,500, and a lender may not have you owe it more than $2,500 in principal at any time. | Interest at a simple annual rate of no more than 36%, plus a monthly maintenance fee of no more than 8% of the original loan amount or $25,… | A lender may refinance a short-term loan only into another short-term loan that meets all the Chapter 18 rules, and… |
| Washington | Legal | $700 or 30% of your gross monthly income, whichever is lower. | Total interest and fees may not exceed 15% of the first $500 of principal and 10% of any principal above $500. | A lender may not give you a new payday loan to pay off an old one from the same lender or its affiliate. |
| West Virginia | Not available | — | No payday product is allowed. | — |
| Wisconsin | Legal | A lender may not make a payday loan that leaves you owing all payday lenders combined more than $1,500 or 35% of your gross monthly income,… | No limit on the interest a licensee may charge before the maturity date. | You may repay a payday loan with the proceeds of one new payday loan, but you may not repay that second loan with yet… |
| Wyoming | Legal | — | The only charge allowed is a post-dated check finance charge of no more than $30 or 20% a month of the principal, whichever is greater. | A post-dated check loan may not be repaid, refinanced or consolidated with the proceeds of another post-dated check… |
Verified against state statutes and regulators; click a state for citations. Last verified 2026-10-25.
For details on your state, open its page from payday loan laws by state, for example Texas, Florida or California. If your state caps payday loans below $500 or doesn't allow them, a personal installment loan through our network may still be an option.
Fees are charged per $100, so the amount you borrow changes the total. At $15 per $100, a $300 loan costs $45 and a $200 loan costs $30. Enter your amount and state below to see the fee and total to repay.
How much will I repay?
Estimate only. Your lender shows your exact cost before you sign.
Ready to get the money? See if you qualify — it takes about 3 minutes.
What's included, and what can be added
The quoted fee is the full cost of a loan repaid on time. A few things can change the final amount:
- Extensions or renewals. Where state law allows, extending the due date usually means paying the fee again, for example another $75 at $15 per $100, while the $500 stays due. Many states limit renewals, and some require lenders to offer an extended payment plan.
- Returned-payment fees from the lender and your bank if the payment doesn't go through. State law limits what lenders can charge.
- Instant-funding fees, if a lender offers faster delivery to a debit card for a charge.
The simplest way to keep your cost at the quoted fee: borrow what you need, note the payoff amount and date, and keep that amount in your account on payday.
What you need to get a $500 payday loan
- Age 18 or older (19 or 21 in a few states for some loans)
- A valid government ID
- Steady income, from a job, benefits or other regular source
- An active checking account in your name
- A working phone number and email
Many lenders focus on income and may use alternative credit data instead of a traditional hard pull, so all credit types are considered. Lenders also look at whether $500 fits your income; some states limit a payday loan to a share of your monthly pay. See the maximum payday loan amount.
What lenders look at
Payday lenders keep their review simple, which is why decisions can come so quickly. Most focus on a few points:
- Income and pay schedule. Lenders want to see regular income and know when your next payday is, since that's usually your due date.
- Your checking account. An active account in your name is used to deposit the loan and collect the payment. Some lenders review recent deposits and balance history.
- Existing short-term loans. Many states limit how many payday loans you can have at once, and some lenders check specialty databases to confirm you're within those limits.
- Your state's rules. The lender must follow your state's maximum amount, fee cap and any limit tied to your income.
Your traditional credit score usually matters less than these factors, so people with all credit types apply.
How to improve your approval odds
- Request an amount that fits your income. If $500 is more than your state or your paycheck supports, a slightly smaller request may be easier to approve, and it costs less: at $15 per $100, $400 costs $60 instead of $75.
- Enter accurate details. Your income, pay dates and bank information should match your documents so lenders can verify them quickly.
- Have your documents handy. A recent pay stub or bank statement and your ID can speed things up if a lender asks.
- Apply on a business day. Requests completed earlier in the day are more likely to be funded by the next business day.
- Use one form. Our network lets one request reach several lenders that serve your state, instead of filling out separate applications.
See if you qualify for $500 — it takes about 3 minutes.
How repayment works
Most $500 payday loans are repaid in one payment on your next payday. You'll usually authorize the lender to collect the payment electronically from your checking account, or in some cases provide a post-dated check. Your agreement lists the exact due date and amount, for example $575 at $15 per $100.
To keep things smooth, make sure the full amount is in your account on the due date, and contact your lender before the due date if anything changes. Some lenders let you pay early, which can be convenient if you have the money sooner. If your state requires an extended payment plan option, your lender's agreement or your state payday loan page explains how it works.
How fast you can get $500
Our online form takes about 3 minutes. Decisions often come within minutes, and if you're approved and sign, funds are often deposited the next business day, depending on the lender and your bank. You're never obligated to accept an offer, and using the form is free.
Need it handled today? Start your request now.
When an installment loan fits better
If you'd rather spread $500 over a few months, or you need more than your state's payday cap, a personal installment loan lets you repay in fixed monthly payments. For example, $500 at 36% over six months is about $92.30 a month, about $54 in total interest. Lenders in our network offer installment loans from $100 to $5,000 depending on your state. See $500 loans and installment loans.
Not sure which fits? One form covers both — tell us what you need and we'll look for lenders that serve your state.
Frequently asked questions
How much is a $500 payday loan per month?
A payday loan is usually repaid in one payment, not monthly. At $15 per $100, you'd repay $575 on your next payday; at $10 per $100 it's $550, and at $30 per $100 it's $650. If you want monthly payments, a $500 installment loan at 36% over six months is about $92 a month. Our form can check both options.
How much do I pay back on a $500 payday loan?
You pay back the $500 plus the lender's fee. With typical fees of $10 to $30 per $100, that's $550 to $650 in total, usually due on your next payday. Many states cap the fee lower. Your lender shows the exact amount, due date and APR in the loan agreement before you sign, so you'll know the full total up front.
Which payday loan gives the most money?
The maximum depends mostly on your state's cap and your income, not the lender. Many states limit payday loans to around $500 or less; a few allow more, and some limit the loan to a share of your monthly income. If you need more than your state allows, lenders in our network offer installment loans up to $5,000, depending on your state.
Is $75 a normal fee for a $500 payday loan?
Yes. $75 is what you'd pay at $15 per $100, a common fee and within the typical $10 to $30 per $100 range. Some states cap fees lower, so you might pay less where you live. Check your state's payday loan page for its cap, and compare the total to repay on any offer before you sign.
Can I get a $500 payday loan with bad credit?
Possibly. Payday lenders mostly look at your income and checking account rather than your credit score, and many use alternative credit data instead of a traditional hard pull. Approval isn't guaranteed and depends on the lender and your state, but our free form lets you check in about 3 minutes with no obligation to accept.