Monthly Payment on a $1,500 Loan at 6% APR for 24 Months
A $1,500 loan at 6% APR repaid over 24 months has a monthly payment of $66.48. Over the full 24 months (2 years) term you'd pay $95.54 in total interest, bringing the total cost of the loan to $1,595.54. A 6% APR is typical for borrowers with excellent credit (760+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$66.48
at 6% APR
Total Interest
$95.54
over 24 months
Total Cost
$1,595.54
principal + interest
Loan Summary
$1,500 · 6% APR · 24 months
| Loan amount | $1,500 |
| Interest rate (APR) | 6% |
| Term | 24 months (2 years) |
| Monthly payment | $66.48 |
| Total interest paid | $95.54 |
| Total cost of loan | $1,595.54 |
Loan Calculator
Monthly Payment
$66.48
Total Paid
$1,595.54
Total Interest
$95.54
$1,500 at 6% APR · 24-Month Loan FAQs
What is the monthly payment on a $1,500 loan at 6% APR for 24 months?
The monthly payment on a $1,500 loan at 6% APR over 24 months is $66.48. This is calculated with the standard amortization formula and assumes equal fixed payments for the full term.
How much total interest will I pay on this $1,500 loan?
At 6% APR over 24 months, you'll pay $95.54 in total interest on a $1,500 loan. Combined with the $1,500 you borrowed, the total amount repaid is $1,595.54.
Is 6% a good APR for a personal loan?
A 6% APR is generally available to borrowers with excellent credit (760+). This is among the lower rates lenders offer and reflects strong creditworthiness.
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