Where do these numbers come from?
- Standard formulasAmortization M = P·r(1+r)^n / ((1+r)^n − 1) and monthly compoundingreviewed Oct 23, 2026
- Freddie MacPMMS mortgage-rate benchmarkweek of Oct 22, 2026
Checked Oct 23, 2026. $320,000 at 6.5% over 360 months: this calculator gives $2,022.62 a month and =PMT(6.5%/12; 360; -320000) in LibreOffice Calc (same PMT as Excel and Google Sheets) returns 2,022.62.
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$1,000 personal loan: monthly payment
| APR | 12 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|
| 8% | $86.99 | $45.23 | $31.34 | $24.41 | $20.28 |
| 12% | $88.85 | $47.07 | $33.21 | $26.33 | $22.24 |
| 16% | $90.73 | $48.96 | $35.16 | $28.34 | $24.32 |
| 20% | $92.63 | $50.90 | $37.16 | $30.43 | $26.49 |
| 25% | $95.04 | $53.37 | $39.76 | $33.16 | $29.35 |
| 30% | $97.49 | $55.91 | $42.45 | $36.01 | $32.35 |
Worked example
At 12% APR over 36 months, the payment is $33.21 and total interest is $196. The same loan at 25% APR costs $431 in interest: the rate matters more than the term for total cost.
Rates in the tables are a range for comparison, not current market quotes. Payments are principal and interest only unless stated.
Frequently asked questions
What is the monthly payment on a $1,000 loan?
$33.21 for 36 months at 12% APR.