$1,500 Loan Calculator — 60 Month Term
At the average personal loan rate of 11%, a $1,500 loan over 60 months costs $32.61/month with $456.82 in total interest. Use the calculator below or compare rates across all credit tiers.
Monthly Payment
$32.61
at 11% APR
Total Interest
$456.82
at 11% APR
Total Paid
$1,956.82
over 60 months
Payment Comparison by Credit Score
$1,500 loan · 60 months
| Credit Tier | APR | Monthly | Total Interest | Total Paid |
|---|---|---|---|---|
| Excellent (760+) | 5% | $28.31 | $198.41 | $1,698.41 |
| Very Good (720+) | 7% | $29.70 | $282.11 | $1,782.11 |
| Good (690+) | 10% | $31.87 | $412.23 | $1,912.23 |
| Fair (660+) | 13% | $34.13 | $547.78 | $2,047.78 |
| Poor (620+) | 17% | $37.28 | $736.73 | $2,236.73 |
| Bad (<620) | 21% | $40.58 | $934.80 | $2,434.80 |
Loan Calculator
Monthly Payment
$32.61
Total Paid
$1,956.82
Total Interest
$456.82
$1,500 · 60-Month Loan FAQs
What is the monthly payment on a $1,500 loan for 60 months?
At the national average rate of 11%, your monthly payment on a $1,500, 60-month loan is approximately $32.61. Over the life of the loan you'd pay $456.82 in interest for a total of $1,956.82.
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 60 months a good term for a $1,500 loan?
A 60-month term keeps monthly payments low at $32.61, but you'll pay $456.82 in total interest at 11%. Consider making extra payments when possible to cut the term and save on interest.
Other Terms for a $1,500 Loan
Other Amounts for a 60-Month Loan
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