One-time fee deducted from your loan proceeds (typically 1-6%)
Additional amount paid each month beyond the minimum. See how much time and interest you can save.
Monthly Payment
$384.05
48 months at 10.5% APR — Payoff: March 2030
Loan Amount
$15,000.00
Total Interest
$3,434.43
Total Cost
$18,434.43
Payoff Date
March 2030
Principal
$15,000.00 (81.4%)
Interest
$3,434.43 (18.6%)
Origination Fee
$300.00 (2%)
Stated Interest Rate
10.5%
Rate used to calculate monthly interest charges
Effective APR
11.58%
True cost including 2% origination fee
The APR (Annual Percentage Rate) includes all fees and charges, giving you the true annual cost of borrowing. The interest rate only reflects the cost of interest itself. When comparing loan offers, always compare APRs for an apples-to-apples comparison.
| Year | Payments | Principal Paid | Interest Paid | Balance |
|---|---|---|---|---|
| Year 1 | $4,608.61 | $3,183.94 | $1,424.66 | $11,816.06 |
| Year 2 | $4,608.61 | $3,534.83 | $1,073.78 | $8,281.23 |
| Year 3 | $4,608.61 | $3,924.38 | $684.23 | $4,356.86 |
| Year 4 | $4,608.61 | $4,356.86 | $251.75 | $0.00 |
| Month | Payment | Principal | Interest | Cumul. Interest | Balance |
|---|---|---|---|---|---|
| 1 | $384.05 | $252.80 | $131.25 | $131.25 | $14,747.20 |
| 2 | $384.05 | $255.01 | $129.04 | $260.29 | $14,492.19 |
| 3 | $384.05 | $257.24 | $126.81 | $387.09 | $14,234.94 |
| 4 | $384.05 | $259.49 | $124.56 | $511.65 | $13,975.45 |
| 5 | $384.05 | $261.77 | $122.29 | $633.94 | $13,713.68 |
| 6 | $384.05 | $264.06 | $119.99 | $753.93 | $13,449.63 |
| 7 | $384.05 | $266.37 | $117.68 | $871.61 | $13,183.26 |
| 8 | $384.05 | $268.70 | $115.35 | $986.97 | $12,914.56 |
| 9 | $384.05 | $271.05 | $113.00 | $1,099.97 | $12,643.51 |
| 10 | $384.05 | $273.42 | $110.63 | $1,210.60 | $12,370.09 |
| 11 | $384.05 | $275.81 | $108.24 | $1,318.84 | $12,094.28 |
| 12 | $384.05 | $278.23 | $105.82 | $1,424.66 | $11,816.06 |
| ... 33 more payments ... | |||||
| 46 | $384.05 | $374.14 | $9.91 | $3,424.47 | $758.14 |
| 47 | $384.05 | $377.42 | $6.63 | $3,431.10 | $380.72 |
| 48 | $384.05 | $380.72 | $3.33 | $3,434.43 | $0.00 |