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Installment loan payment calculator

For loans repaid monthly — $1,000 to $5,000 territory. See what the payment really is and what the loan costs in total before you sign.

Monthly payment

$268.84

Total interest

$1226.05

Total repaid

$3226.05

Standard amortization illustration — your lender's payment schedule, fees, and rounding will differ slightly. The loan agreement's TILA disclosure controls.

How to use the numbers

Two rules of thumb: the monthly payment must fit your budget in a month where nothing goes right — not your best month — and the total repaid is the honest price of the loan. A longer term shrinks the payment but grows the total; run both versions and compare. Installment APRs for thin-credit borrowers commonly run 36% to 400%+ depending on lender and state.

Comparing against a payday-style single-payment loan? Use the payday loan cost calculator and compare total repayment on each. Amount guides: $1,500 · $2,000 · $2,500 · $5,000 · or see installment loans for bad credit.