Personal Loan Terms & Repayment Windows: 24 vs 36 vs 60 Months
Compare 24, 36, 48, and 60-month personal loan terms. Understand monthly payment trade-offs vs total interest costs.
By Sarah Jenkins, CFA
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Reviewed by David Vance, CFP
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5 min read
Loan Term Comparison Matrix ($15,000 Loan at 10% APR)
| Loan Term | Monthly Payment | Total Interest Paid | Total Cost |
|---|---|---|---|
| 24 Months (2 Yrs) | $692.07 | $1,609.68 | $16,609.68 |
| 36 Months (3 Yrs) | $484.01 | $2,424.36 | $17,424.36 |
| 60 Months (5 Yrs) | $318.71 | $4,122.60 | $19,122.60 |