How to work out the total you repay on a small loan
Updated November 6, 2026
The total you repay is the amount you borrow plus the finance charge, plus any other fee in the agreement. On a loan offer in the United States, the Truth in Lending disclosure prints this as the "total of payments", so you can check your own math against it before you sign.
It takes about as long as reading this page, and it is the single most useful thing to do with an offer. A fee that sounds small can be large for the time you have the money.
The four numbers to find
- Amount financed. The money you actually get to use. It can be lower than the headline amount if a fee comes off the top.
- Finance charge. The cost of the credit in dollars.
- Annual percentage rate. The cost as a yearly rate, which lets you compare loans of different lengths.
- Total of payments. Everything you will have paid once the last payment clears, if you pay on schedule.
Next to those, look for the payment schedule: how many payments, how much each one is, and the dates.
A worked example with one payment
Take a two week loan of $300 with a fee of $15 per $100 borrowed. That fee level is the one the Consumer Financial Protection Bureau uses in its own example, not a quote from any lender.
| Amount borrowed | $300 |
|---|---|
| Fee ($15 for each $100) | $45 |
| Total due in 14 days | $345 |
| APR | About 391 percent |
To check the APR yourself, divide the fee by the amount borrowed, multiply by 365, then divide by the number of days. Here that is 45 divided by 300, times 365, divided by 14.
The question that matters most is the last one on the page: will $345 leave enough in your account on that date for rent, food and the next bill? If not, the loan may come back around as a second fee.
A worked example with several payments
For an installment loan, multiply one payment by the number of payments. Six payments of $90 come to $540. If you borrowed $400, the cost of that credit is $140. These are round numbers for the arithmetic only. Your offer will have its own.
Then look at the dates. A plan that takes a payment every two weeks moves faster than one that takes a payment every month, even when the total looks the same.
Costs that can sit outside the total
The total of payments assumes that everything goes to plan. Read the agreement for these as well:
- A late fee, and when it starts.
- A returned payment fee if a debit fails. Your own bank may charge a separate fee for the same failure.
- A rollover or renewal fee. Paying only the fee to push the due date back does not reduce what you owe.
- Any origination fee that reduces the money you receive.
Questions to ask before you accept
- What is the total of payments, in dollars?
- Can I repay early, and would that lower the cost?
- What happens on the day a payment fails?
- If I get into trouble, do you offer a payment plan?
If you are worried about that last one, our guide on extended payment plans covers how to ask. And if anyone asks you to pay before you receive a loan, read how to spot an upfront fee scam.
Short answers
Is the APR the same as the fee?
No. The fee is a dollar amount. The APR expresses that cost as a yearly rate, which is why a small fee over two weeks can show a very high APR.
Which number should I compare between two offers?
Compare the APR when the loans have different lengths, and compare the total of payments to see what leaves your account in dollars.
Does StarlineLend set these numbers?
No. StarlineLend is not a lender. Each lender sets its own rates and fees, and they appear in the lender's agreement.
Go to the request form