Monthly Payment on a $1,500 Loan at 20% APR for 48 Months
A $1,500 loan at 20% APR repaid over 48 months has a monthly payment of $45.65. Over the full 48 months (4 years) term you'd pay $690.99 in total interest, bringing the total cost of the loan to $2,190.99. A 20% APR is typical for borrowers with poor or building credit (below 630). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$45.65
at 20% APR
Total Interest
$690.99
over 48 months
Total Cost
$2,190.99
principal + interest
Loan Summary
$1,500 · 20% APR · 48 months
| Loan amount | $1,500 |
| Interest rate (APR) | 20% |
| Term | 48 months (4 years) |
| Monthly payment | $45.65 |
| Total interest paid | $690.99 |
| Total cost of loan | $2,190.99 |
Loan Calculator
Monthly Payment
$45.65
Total Paid
$2,190.99
Total Interest
$690.99
$1,500 at 20% APR · 48-Month Loan FAQs
What is the monthly payment on a $1,500 loan at 20% APR for 48 months?
The monthly payment on a $1,500 loan at 20% APR over 48 months is $45.65. 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 20% APR over 48 months, you'll pay $690.99 in total interest on a $1,500 loan. Combined with the $1,500 you borrowed, the total amount repaid is $2,190.99.
Is 20% a good APR for a personal loan?
A 20% APR is generally available to borrowers with poor or building credit (below 630). This is on the higher end. Shopping multiple lenders, reducing your debt-to-income ratio, or improving your credit before applying can lower your rate substantially.
Same Loan at a Different APR
Explore This Loan Further
Related tools:
Loan Calculator Debt Payoff Calculator Compound Interest Calculator