Monthly Payment on a $1,500 Loan at 18% APR for 60 Months
A $1,500 loan at 18% APR repaid over 60 months has a monthly payment of $38.09. Over the full 60 months (5 years) term you'd pay $785.41 in total interest, bringing the total cost of the loan to $2,285.41. A 18% APR is typical for borrowers with fair credit (630–689). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$38.09
at 18% APR
Total Interest
$785.41
over 60 months
Total Cost
$2,285.41
principal + interest
Loan Summary
$1,500 · 18% APR · 60 months
| Loan amount | $1,500 |
| Interest rate (APR) | 18% |
| Term | 60 months (5 years) |
| Monthly payment | $38.09 |
| Total interest paid | $785.41 |
| Total cost of loan | $2,285.41 |
Loan Calculator
Monthly Payment
$38.09
Total Paid
$2,285.41
Total Interest
$785.41
$1,500 at 18% APR · 60-Month Loan FAQs
What is the monthly payment on a $1,500 loan at 18% APR for 60 months?
The monthly payment on a $1,500 loan at 18% APR over 60 months is $38.09. 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 18% APR over 60 months, you'll pay $785.41 in total interest on a $1,500 loan. Combined with the $1,500 you borrowed, the total amount repaid is $2,285.41.
Is 18% a good APR for a personal loan?
A 18% APR is generally available to borrowers with fair credit (630–689). This is a mid-range rate — improving your credit score or adding a co-signer could help you qualify for a lower one.
Same Loan at a Different APR
Explore This Loan Further
Related tools:
Loan Calculator Debt Payoff Calculator Compound Interest Calculator