Monthly Payment on a $1,500 Loan at 8% APR for 36 Months
A $1,500 loan at 8% APR repaid over 36 months has a monthly payment of $47.00. Over the full 36 months (3 years) term you'd pay $192.16 in total interest, bringing the total cost of the loan to $1,692.16. A 8% APR is typical for borrowers with very good credit (720+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$47.00
at 8% APR
Total Interest
$192.16
over 36 months
Total Cost
$1,692.16
principal + interest
Loan Summary
$1,500 · 8% APR · 36 months
| Loan amount | $1,500 |
| Interest rate (APR) | 8% |
| Term | 36 months (3 years) |
| Monthly payment | $47.00 |
| Total interest paid | $192.16 |
| Total cost of loan | $1,692.16 |
Loan Calculator
Monthly Payment
$47.00
Total Paid
$1,692.16
Total Interest
$192.16
$1,500 at 8% APR · 36-Month Loan FAQs
What is the monthly payment on a $1,500 loan at 8% APR for 36 months?
The monthly payment on a $1,500 loan at 8% APR over 36 months is $47.00. 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 8% APR over 36 months, you'll pay $192.16 in total interest on a $1,500 loan. Combined with the $1,500 you borrowed, the total amount repaid is $1,692.16.
Is 8% a good APR for a personal loan?
A 8% APR is generally available to borrowers with very good credit (720+). This is among the lower rates lenders offer and reflects strong creditworthiness.
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