$1,500 Loans: What Your Credit Score Means for the Cost
Page last reviewed: October 27, 2026 · Reviewed for accuracy by Betty Walsh
On a $1,500 loan, your credit score does most of the pricing. The same 12-month loan can cost under $100 or several hundred dollars in interest, depending on the APR you're offered. See where you're likely to land, then request $1,500 online.
- Median APR is 26.90% for scores of 601–660 and 10.90% at 781+, per TransUnion data
- Credit union PAL II loans cover $1,500, with APR capped at 28%
- Prequalifying with a soft credit pull doesn't affect your score
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What $1,500 Costs at Your Credit Score
Median APRs on funded personal loans by credit tier, from TransUnion data reported by Bankrate in February 2026, applied to $1,500 over 12 months. Medians below 601 aren't published, so the last two rows are examples of higher-cost pricing.
| Credit score | APR | Monthly payment | Total interest |
|---|---|---|---|
| 781+ (super prime) | 10.90% (median) | $132.50 | $90.00 |
| 721–780 (prime plus) | 13.00% (median) | $133.98 | $107.76 |
| 661–720 (prime) | 17.80% (median) | $137.38 | $148.56 |
| 601–660 (near prime) | 26.90% (median) | $143.95 | $227.40 |
| 600 or below | 36% (example) | $150.69 | $308.28 |
| 600 or below, high-cost lender | 99% (example) | $201.63 | $919.56 |
TransUnion's figures describe loans that were actually funded. Your own offer can be higher or lower.
What to Try First at Each Score Range
Where you start shopping matters as much as where you end up. Our credit score guides go deeper on each range.
Cheaper Routes to $1,500 for Credit Union Members
- PAL II, not PAL I: the first type of payday alternative loan stops at $1,000, so $1,500 needs a PAL II, which goes up to $2,000 over 1 to 12 months at no more than 28% APR, plus an application fee of up to $20.
- Regular credit union loans: federal credit unions can't charge more than 18% APR on most loans through September 10, 2027.
$1,500 Loan Questions
How can I borrow $1,500 instantly?
No legitimate lender guarantees approval, but many online lenders decide within minutes and fund the same day or within a few business days after you sign. Having your ID, income details and bank account ready shortens the process.
What is the monthly payment on a $1,500 loan?
Over 12 months, about $137.38 at the 17.80% median for scores of 661–720 and $143.95 at the 26.90% median for 601–660. At 36% APR it's about $150.69.
Is it possible to get a $1,500 loan with bad credit?
Yes, but the APR climbs as your score drops, so compare offers by total cost. Prequalifying with several lenders using a soft pull shows your likely rate without hurting your score. Installment loans with bad credit.
What credit score do I need for a $1,500 loan?
There's no single cutoff. Each lender sets its own, and some lenders weigh income and bank history more heavily than the score. Your score mainly decides the price: the TransUnion median APR more than doubles between 781+ and 601–660.
See what you'd pay for $1,500
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