Monthly Payment on a $3,000 Loan at 5% APR for 18 Months
A $3,000 loan at 5% APR repaid over 18 months has a monthly payment of $173.34. Over the full 18 months (1.5 years) term you'd pay $120.15 in total interest, bringing the total cost of the loan to $3,120.15. 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
$173.34
at 5% APR
Total Interest
$120.15
over 18 months
Total Cost
$3,120.15
principal + interest
Loan Summary
$3,000 · 5% APR · 18 months
| Loan amount | $3,000 |
| Interest rate (APR) | 5% |
| Term | 18 months (1.5 years) |
| Monthly payment | $173.34 |
| Total interest paid | $120.15 |
| Total cost of loan | $3,120.15 |
Loan Calculator
Monthly Payment
$173.34
Total Paid
$3,120.15
Total Interest
$120.15
$3,000 at 5% APR · 18-Month Loan FAQs
What is the monthly payment on a $3,000 loan at 5% APR for 18 months?
The monthly payment on a $3,000 loan at 5% APR over 18 months is $173.34. 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 $3,000 loan?
At 5% APR over 18 months, you'll pay $120.15 in total interest on a $3,000 loan. Combined with the $3,000 you borrowed, the total amount repaid is $3,120.15.
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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