$1,500 Loan Calculator — 24 Month Term
At the average personal loan rate of 11%, a $1,500 loan over 24 months costs $69.91/month with $177.88 in total interest. Use the calculator below or compare rates across all credit tiers.
Monthly Payment
$69.91
at 11% APR
Total Interest
$177.88
at 11% APR
Total Paid
$1,677.88
over 24 months
Payment Comparison by Credit Score
$1,500 loan · 24 months
| Credit Tier | APR | Monthly | Total Interest | Total Paid |
|---|---|---|---|---|
| Excellent (760+) | 5% | $65.81 | $79.37 | $1,579.37 |
| Very Good (720+) | 7% | $67.16 | $111.81 | $1,611.81 |
| Good (690+) | 10% | $69.22 | $161.22 | $1,661.22 |
| Fair (660+) | 13% | $71.31 | $211.51 | $1,711.51 |
| Poor (620+) | 17% | $74.16 | $279.92 | $1,779.92 |
| Bad (<620) | 21% | $77.08 | $349.88 | $1,849.88 |
Loan Calculator
Monthly Payment
$69.91
Total Paid
$1,677.88
Total Interest
$177.88
$1,500 · 24-Month Loan FAQs
What is the monthly payment on a $1,500 loan for 24 months?
At the national average rate of 11%, your monthly payment on a $1,500, 24-month loan is approximately $69.91. Over the life of the loan you'd pay $177.88 in interest for a total of $1,677.88.
How does the term length affect my $1,500 loan payment?
A shorter term means higher monthly payments but less total interest. For $1,500: a 12-month loan at 11% costs $132.57/mo, while a 60-month loan costs $32.61/mo but you'd pay $365.95 more in total interest.
What credit score do I need for a $1,500 personal loan?
For a $1,500 personal loan, most lenders require a minimum score of 580–620. Borrowers with scores above 720 qualify for the best rates (around 5–7%), while scores below 620 may face rates of 20%+.
Is 24 months a good term for a $1,500 loan?
A 24-month term keeps total interest costs low — you'd pay only $177.88 at 11% — but the monthly payment of $69.91 is higher. This is ideal if you can comfortably afford the payment and want to get out of debt quickly.
Other Terms for a $1,500 Loan
Other Amounts for a 24-Month Loan
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