Monthly Payment on a $1,500 Loan at 12% APR for 84 Months
A $1,500 loan at 12% APR repaid over 84 months has a monthly payment of $26.48. Over the full 84 months (7 years) term you'd pay $724.24 in total interest, bringing the total cost of the loan to $2,224.24. A 12% APR is typical for borrowers with good credit (690+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$26.48
at 12% APR
Total Interest
$724.24
over 84 months
Total Cost
$2,224.24
principal + interest
Loan Summary
$1,500 · 12% APR · 84 months
| Loan amount | $1,500 |
| Interest rate (APR) | 12% |
| Term | 84 months (7 years) |
| Monthly payment | $26.48 |
| Total interest paid | $724.24 |
| Total cost of loan | $2,224.24 |
Loan Calculator
Monthly Payment
$26.48
Total Paid
$2,224.24
Total Interest
$724.24
$1,500 at 12% APR · 84-Month Loan FAQs
What is the monthly payment on a $1,500 loan at 12% APR for 84 months?
The monthly payment on a $1,500 loan at 12% APR over 84 months is $26.48. 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 12% APR over 84 months, you'll pay $724.24 in total interest on a $1,500 loan. Combined with the $1,500 you borrowed, the total amount repaid is $2,224.24.
Is 12% a good APR for a personal loan?
A 12% APR is generally available to borrowers with good credit (690+). This is a mid-range rate — improving your credit score or adding a co-signer could help you qualify for a lower one.
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