$1,000 Loan Calculator — 18 Month Term
At the average personal loan rate of 11%, a $1,000 loan over 18 months costs $60.52/month with $89.33 in total interest. Use the calculator below or compare rates across all credit tiers.
Monthly Payment
$60.52
at 11% APR
Total Interest
$89.33
at 11% APR
Total Paid
$1,089.33
over 18 months
Payment Comparison by Credit Score
$1,000 loan · 18 months
| Credit Tier | APR | Monthly | Total Interest | Total Paid |
|---|---|---|---|---|
| Excellent (760+) | 5% | $57.78 | $40.05 | $1,040.05 |
| Very Good (720+) | 7% | $58.68 | $56.33 | $1,056.33 |
| Good (690+) | 10% | $60.06 | $81.03 | $1,081.03 |
| Fair (660+) | 13% | $61.45 | $106.06 | $1,106.06 |
| Poor (620+) | 17% | $63.33 | $139.94 | $1,139.94 |
| Bad (<620) | 21% | $65.24 | $174.41 | $1,174.41 |
Loan Calculator
Monthly Payment
$60.52
Total Paid
$1,089.33
Total Interest
$89.33
$1,000 · 18-Month Loan FAQs
What is the monthly payment on a $1,000 loan for 18 months?
At the national average rate of 11%, your monthly payment on a $1,000, 18-month loan is approximately $60.52. Over the life of the loan you'd pay $89.33 in interest for a total of $1,089.33.
How does the term length affect my $1,000 loan payment?
A shorter term means higher monthly payments but less total interest. For $1,000: a 12-month loan at 11% costs $88.38/mo, while a 60-month loan costs $21.74/mo but you'd pay $243.97 more in total interest.
What credit score do I need for a $1,000 personal loan?
For a $1,000 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 18 months a good term for a $1,000 loan?
A 18-month term keeps total interest costs low — you'd pay only $89.33 at 11% — but the monthly payment of $60.52 is higher. This is ideal if you can comfortably afford the payment and want to get out of debt quickly.
Other Terms for a $1,000 Loan
Other Amounts for a 18-Month Loan
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