$1,000 Loan — All Term Options

Monthly payments and total interest for a $1,000 loan at 8.5% APR across all available terms.

12 months
$87.22/mo
$46.64 total interest
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24 months
$45.46/mo
$90.94 total interest
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36 months
$31.57/mo
$136.43 total interest
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48 months
$24.65/mo
$183.12 total interest
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60 months
$20.52/mo
$230.99 total interest
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72 months
$17.78/mo
$280.04 total interest
Full breakdown →
84 months
$15.84/mo
$330.26 total interest
Full breakdown →

Full Comparison Table

Term Monthly Payment Total Interest Total Repaid
12 months (1 yr) $87.22 $46.64 $1,046.64
24 months (2 yrs) $45.46 $90.94 $1,091.04
36 months (3 yrs) $31.57 $136.43 $1,136.52 Popular
48 months (4 yrs) $24.65 $183.12 $1,183.20
60 months (5 yrs) $20.52 $230.99 $1,231.20
72 months (6 yrs) $17.78 $280.04 $1,280.16
84 months (7 yrs) $15.84 $330.26 $1,330.56
Which term should you choose? Shorter terms mean higher monthly payments but dramatically less interest. A $1,000 loan over 36 months costs $136.43 in interest — vs $330.26 over 84 months. That's a difference of $193.83 for the same loan.

How Is the Monthly Payment Calculated?

All figures use the standard amortisation formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P = $1,000 principal, r = monthly rate (8.5% APR / 12), and n = term in months. Every payment covers interest accrued that month plus a portion of principal — with the interest share decreasing each month.

See Detailed Breakdowns