$1,500 Loan Calculator — 12 Month Term
At the average personal loan rate of 11%, a $1,500 loan over 12 months costs $132.57/month with $90.87 in total interest. Use the calculator below or compare rates across all credit tiers.
Monthly Payment
$132.57
at 11% APR
Total Interest
$90.87
at 11% APR
Total Paid
$1,590.87
over 12 months
Payment Comparison by Credit Score
$1,500 loan · 12 months
| Credit Tier | APR | Monthly | Total Interest | Total Paid |
|---|---|---|---|---|
| Excellent (760+) | 5% | $128.41 | $40.93 | $1,540.93 |
| Very Good (720+) | 7% | $129.79 | $57.48 | $1,557.48 |
| Good (690+) | 10% | $131.87 | $82.49 | $1,582.49 |
| Fair (660+) | 13% | $133.98 | $107.71 | $1,607.71 |
| Poor (620+) | 17% | $136.81 | $141.69 | $1,641.69 |
| Bad (<620) | 21% | $139.67 | $176.05 | $1,676.05 |
Loan Calculator
Monthly Payment
$132.57
Total Paid
$1,590.87
Total Interest
$90.87
Amortization Schedule
$1,500 at 11% APR — 12 payments of $132.57
| Mo | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $132.57 | $118.82 | $13.75 | $1,381 |
| 2 | $132.57 | $119.91 | $12.66 | $1,261 |
| 3 | $132.57 | $121.01 | $11.56 | $1,140 |
| 4 | $132.57 | $122.12 | $10.45 | $1,018 |
| 5 | $132.57 | $123.24 | $9.33 | $895 |
| 6 | $132.57 | $124.37 | $8.20 | $771 |
| 7 | $132.57 | $125.51 | $7.06 | $645 |
| 8 | $132.57 | $126.66 | $5.91 | $518 |
| 9 | $132.57 | $127.82 | $4.75 | $391 |
| 10 | $132.57 | $128.99 | $3.58 | $262 |
| 11 | $132.57 | $130.18 | $2.40 | $131 |
| 12 | $132.57 | $131.37 | $1.20 | $0 |
$1,500 · 12-Month Loan FAQs
What is the monthly payment on a $1,500 loan for 12 months?
At the national average rate of 11%, your monthly payment on a $1,500, 12-month loan is approximately $132.57. Over the life of the loan you'd pay $90.87 in interest for a total of $1,590.87.
How does the term length affect my $1,500 loan payment?
A shorter term means higher monthly payments but less total interest. For $1,500: a 12-month loan at 11% costs $132.57/mo, while a 60-month loan costs $32.61/mo but you'd pay $365.95 more in total interest.
What credit score do I need for a $1,500 personal loan?
For a $1,500 personal loan, most lenders require a minimum score of 580–620. Borrowers with scores above 720 qualify for the best rates (around 5–7%), while scores below 620 may face rates of 20%+.
Is 12 months a good term for a $1,500 loan?
A 12-month term keeps total interest costs low — you'd pay only $90.87 at 11% — but the monthly payment of $132.57 is higher. This is ideal if you can comfortably afford the payment and want to get out of debt quickly.
Other Terms for a $1,500 Loan
Other Amounts for a 12-Month Loan
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