$1,500 Loan Calculator — 24 Month Term
At the average personal loan rate of 11%, a $1,500 loan over 24 months costs $69.91/month with $177.88 in total interest. Use the calculator below or compare rates across all credit tiers.
Monthly Payment
$69.91
at 11% APR
Total Interest
$177.88
at 11% APR
Total Paid
$1,677.88
over 24 months
Payment Comparison by Credit Score
$1,500 loan · 24 months
| Credit Tier | APR | Monthly | Total Interest | Total Paid |
|---|---|---|---|---|
| Excellent (760+) | 5% | $65.81 | $79.37 | $1,579.37 |
| Very Good (720+) | 7% | $67.16 | $111.81 | $1,611.81 |
| Good (690+) | 10% | $69.22 | $161.22 | $1,661.22 |
| Fair (660+) | 13% | $71.31 | $211.51 | $1,711.51 |
| Poor (620+) | 17% | $74.16 | $279.92 | $1,779.92 |
| Bad (<620) | 21% | $77.08 | $349.88 | $1,849.88 |
Loan Calculator
Monthly Payment
$69.91
Total Paid
$1,677.88
Total Interest
$177.88
Amortization Schedule
$1,500 at 11% APR — 24 payments of $69.91
| Mo | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $69.91 | $56.16 | $13.75 | $1,444 |
| 2 | $69.91 | $56.68 | $13.24 | $1,387 |
| 3 | $69.91 | $57.20 | $12.72 | $1,330 |
| 4 | $69.91 | $57.72 | $12.19 | $1,272 |
| 5 | $69.91 | $58.25 | $11.66 | $1,214 |
| 6 | $69.91 | $58.78 | $11.13 | $1,155 |
| 7 | $69.91 | $59.32 | $10.59 | $1,096 |
| 8 | $69.91 | $59.87 | $10.05 | $1,036 |
| 9 | $69.91 | $60.41 | $9.50 | $976 |
| 10 | $69.91 | $60.97 | $8.94 | $915 |
| 11 | $69.91 | $61.53 | $8.38 | $853 |
| 12 | $69.91 | $62.09 | $7.82 | $791 |
| 13 | $69.91 | $62.66 | $7.25 | $728 |
| 14 | $69.91 | $63.24 | $6.68 | $665 |
| 15 | $69.91 | $63.81 | $6.10 | $601 |
| 16 | $69.91 | $64.40 | $5.51 | $537 |
| 17 | $69.91 | $64.99 | $4.92 | $472 |
| 18 | $69.91 | $65.59 | $4.33 | $406 |
| 19 | $69.91 | $66.19 | $3.72 | $340 |
| 20 | $69.91 | $66.79 | $3.12 | $273 |
| 21 | $69.91 | $67.41 | $2.51 | $206 |
| 22 | $69.91 | $68.02 | $1.89 | $138 |
| 23 | $69.91 | $68.65 | $1.26 | $69 |
| 24 | $69.91 | $69.28 | $0.64 | $0 |
$1,500 · 24-Month Loan FAQs
What is the monthly payment on a $1,500 loan for 24 months?
At the national average rate of 11%, your monthly payment on a $1,500, 24-month loan is approximately $69.91. Over the life of the loan you'd pay $177.88 in interest for a total of $1,677.88.
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 24 months a good term for a $1,500 loan?
A 24-month term keeps total interest costs low — you'd pay only $177.88 at 11% — but the monthly payment of $69.91 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 24-Month Loan
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