The monthly payment on a $100,000 loan ranges from $1,367 to $10,046, depending on the APR and how long the loan lasts. For example, if you take out a $100,000 loan for one year with an APR of 36%, your monthly payment will be $10,046. But if you take out a $100,000 loan for seven years with an APR of 4%, your monthly payment will be $1,367.
Most personal loans offer payoff periods that fall between one and seven years, so those periods serve as the minimum and maximum in our calculations. In addition, these calculations assume that if the lender has an origination fee, it's built into the APR. Some lenders charge an origination fee up front, so your monthly payments might be smaller as a result.
Below are the monthly payments that you can expect on a $100,000 loan with different payoff periods. The table assumes you will be paying interest at an APR of 15%, which is roughly the average personal loan APR.
Example Monthly Payments on a $100,000 Personal Loan
| Payoff period | APR | Monthly payment | Total interest paid |
| 12 months | 15% | $9,026 | $8,310 |
| 24 months | 15% | $4,849 | $16,368 |
| 36 months | 15% | $3,467 | $24,795 |
| 48 months | 15% | $2,783 | $33,588 |
| 60 months | 15% | $2,379 | $42,740 |
| 72 months | 15% | $2,115 | $52,244 |
| 84 months | 15% | $1,930 | $62,093 |
If you'd like to try out any other combinations of payoff periods and interest rates before you apply, you can use WalletHub's free personal loan calculator.
Once you get approved for a personal loan, you will receive information on exactly what your monthly payment will be. And you'll be able to access that information any time through your online account or by looking at one of your monthly bills.
This answer was first published on 09/10/21 and it was last updated on 07/31/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.
FAQs
Consider, for example, a borrower who takes out a $100,000 loan with an interest rate of 10% and a five-year (60-month) loan term. In this case, the borrower would have a monthly payment of $2,124.70.
How much is a 100k personal loan per month? ›
Consider, for example, a borrower who takes out a $100,000 loan with an interest rate of 10% and a five-year (60-month) loan term. In this case, the borrower would have a monthly payment of $2,124.70.
What credit score is needed for a 100k loan? ›
You'll generally need a good to exceptional credit score, generally between 670 and 850, and a steady income to get a $100,000 personal loan.
Can you get a personal loan of $100,000? ›
It is possible to get a $100,000 personal loan, but it's difficult. Lenders don't typically offer loans as large as $100,000, with most banks and credit unions offering a maximum of $50,000. To qualify for a $100,000 personal loan, you'll need a credit score of 720 or above and a high income.
What is the minimum income for a 100k loan? ›
A $100,000 mortgage comes with a monthly payment around $840. Your lender will look for income in the $28,000 range to make that monthly payment, assuming you don't have debt already from a car payment or student loan, for example.
Is it easy to get 100k in personal loan? ›
To get a $100,000 personal loan at the best rates and terms, you'll need excellent credit, a high income, and the right lender. Not all personal loan companies offer six-figure loan amounts. Those that do typically only lend large amounts to borrowers with stellar financial profiles.
How long does it take to pay back a 100K loan? ›
How long does paying off $100K in student loans take? Although the standard repayment plan is typically 10 years, some loans and repayment plans have longer terms, so you could be repaying for 20 or even 30 years.
What is 5% interest on $100,000? ›
Annual compound interest earnings:
At 5.00%, your $100,000 would earn $5,000 per year.
What is the maximum personal loan you can get? ›
Many lenders cap their loans around $50,000 or less — though some, like SoFi, a Credible partner, offer loans up to $100,000. You generally need to have a good credit score and low DTI in order to qualify for a lender's maximum loan amount.
Is it hard to get a personal loan? ›
It's not difficult to apply for a personal loan. The process is typically simple and quick, and depending on the lender, you can get the funds fast. Still, it's best to take the time to search for lender options that fit your needs (and your credit profile).
Some of the easiest loans to get approved for if you have bad credit include payday loans, no-credit-check loans, and pawnshop loans. Personal loans with essentially no approval requirements typically charge the highest interest rates and loan fees.
How high is too high for a personal loan? ›
The majority of lenders state that their maximum personal loan amount is $50,000, though some will go as high as $100,000. Some borrowers—such as those who are wealthy and with high credit scores—might be able to borrow more.
How long does it take to pay back a 100k loan? ›
How long does paying off $100K in student loans take? Although the standard repayment plan is typically 10 years, some loans and repayment plans have longer terms, so you could be repaying for 20 or even 30 years.
Is it easy to borrow 100k? ›
You can loan £100k with an unsecured loan if you have a strong credit score. In most cases, the funds will be paid to you. However, if you have a bad or less than perfect credit score, you can use your home or property as collateral.
What does it cost to borrow 100000? ›
How much would a 100k mortgage cost monthly? At the time of writing (June 2024), the average monthly repayments on a £100,000 mortgage are £585. This is based on current interest ranges being around 5%, a typical mortgage term of 25 years and most borrowers opting for a capital repayment mortgage.
