Monthly Payment on a $1,500 Loan at 5% APR for 30 Months
A $1,500 loan at 5% APR repaid over 30 months has a monthly payment of $53.29. Over the full 30 months (2.5 years) term you'd pay $98.82 in total interest, bringing the total cost of the loan to $1,598.82. A 5% 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
$53.29
at 5% APR
Total Interest
$98.82
over 30 months
Total Cost
$1,598.82
principal + interest
Loan Summary
$1,500 · 5% APR · 30 months
| Loan amount | $1,500 |
| Interest rate (APR) | 5% |
| Term | 30 months (2.5 years) |
| Monthly payment | $53.29 |
| Total interest paid | $98.82 |
| Total cost of loan | $1,598.82 |
Loan Calculator
Monthly Payment
$53.29
Total Paid
$1,598.82
Total Interest
$98.82
$1,500 at 5% APR · 30-Month Loan FAQs
What is the monthly payment on a $1,500 loan at 5% APR for 30 months?
The monthly payment on a $1,500 loan at 5% APR over 30 months is $53.29. 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 5% APR over 30 months, you'll pay $98.82 in total interest on a $1,500 loan. Combined with the $1,500 you borrowed, the total amount repaid is $1,598.82.
Is 5% a good APR for a personal loan?
A 5% 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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