$5,000 personal loan: monthly payment by APR and term

A $5,000 loan is often used for a repair or bill that can’t wait. Because the amount is small, fees and the number of payments matter more than you might expect.

Example payments on $5,000

Examples, not offers: $5,000 repaid in 12, 24 or 36 monthly payments at 9.9% to 24.9% APR, with no origination fee. Each cell shows the monthly payment and the total repaid.

  • 12 monthly payments

    9.9% APR
    $439.35 a month$5,272 total
    14.9% APR
    $451.06 a month$5,413 total
    19.9% APR
    $462.93 a month$5,555 total
    24.9% APR
    $474.98 a month$5,700 total

  • 24 monthly payments

    9.9% APR
    $230.49 a month$5,532 total
    14.9% APR
    $242.20 a month$5,813 total
    19.9% APR
    $254.23 a month$6,102 total
    24.9% APR
    $266.61 a month$6,399 total

  • 36 monthly payments

    9.9% APR
    $161.10 a month$5,800 total
    14.9% APR
    $173.08 a month$6,231 total
    19.9% APR
    $185.56 a month$6,680 total
    24.9% APR
    $198.53 a month$7,147 total

Loan availability, amounts, rates and terms vary by state and lender. See example rates and terms for how these figures are calculated.

What people use $5,000 for

  • A car repair or replacement tires
  • A medical or dental bill after insurance
  • Moving deposits and the first month’s rent

Things to know at $5,000

  • Some lenders set minimum loan amounts above $5,000, so you may see fewer offers than for larger amounts.
  • A flat or percentage origination fee takes a bigger bite out of a small loan. Check how much you’ll receive before you sign.
  • If you could repay within a few months, a card with a 0% introductory APR or a payment plan with the biller may cost less than any loan.

If a lender charges an origination fee

Some lenders take a fee out of the loan before paying it to you. With a 5% fee on $5,000, the lender keeps $250 and you receive $4,750, but you repay the full $5,000 plus interest.

The fee raises the APR. A loan with a 14.9% interest rate over 24 months and a 5% fee has an APR of about 20.2%. If you need the full $5,000 in hand, you’d have to borrow about $5,263. Open the payment calculator to try a different fee.

Questions

Is a $5,000 loan easier to get than a larger one?

Often, because the payment is a smaller share of your income. Lenders still look at your credit and income, and some don’t lend amounts this small.

Should I pick the shortest term?

A shorter term means a higher payment but less interest in total. Pick the shortest term whose payment you can still make comfortably in a tight month.

Similar amounts

Send one request for $5,000 to lenders in our network. It doesn’t affect your credit score, and FastLoan is not a lender.