36-month vs 48-month personal loan
$68.82/month difference in monthly payment
$674 difference in total interest
36 months: $331.47 a month. 48 months: $262.65 a month.
Source: Federal Reserve G.19 average bank rate on 24-month personal loans (May 2026): 11.86%, applied to both terms. An average, not an offer.
Side by side
| 36 months | 48 months | |
|---|---|---|
| Amount borrowed | $10,000 | $10,000 |
| Rate | 11.86% | 11.86% |
| Monthly payment | $331.47 | $262.65 |
| Paid off in | 3 years | 4 years |
| Total interest | $1,933 | $2,607 |
Questions
Which has the lower monthly payment?
48 months, by $68.82 a month ($331.47 vs $262.65).
Which costs less overall?
36 months saves $674 in interest ($1,933 vs $2,607).
What rates are these figures based on?
Federal Reserve G.19 average bank rate on 24-month personal loans (May 2026): 11.86%, applied to both terms.
Can I compare a different amount?
Yes: change the amount above and press Compare. The page recalculates with the same rates.
Sources
- Personal loan, 24 months average: 11.86%. Federal Reserve G.19 Consumer Credit, terms of credit at commercial banks, series TERMCBPER24NS, as of May 1, 2026; retrieved September 26, 2026.
Numbers on this page last changed September 26, 2026. How they are calculated: methodology.