72-Month Personal Loan
Explore monthly payments, total interest costs, and key considerations for a 72-month (6-year) personal loan repayment term.
Who Is a 72-Month Term For?
Calculate Your 72-Month Payment
Monthly Payment
$200.69
Total Interest
$4,449.68
Total Cost
$14,449.68
72-Month Payment Examples
Monthly payments at three APR levels: 7.99% (low), 15.99% (mid), and 29.99% (high).
| Loan Amount | 7.99% APR | 15.99% APR | 29.99% APR |
|---|---|---|---|
| $5,000 | $87.64 | $108.43 | $150.39 |
| $10,000 | $175.28 | $216.86 | $300.78 |
| $15,000 | $262.93 | $325.30 | $451.17 |
| $25,000 | $438.21 | $542.16 | $751.94 |
| $50,000 | $876.42 | $1,084.32 | $1,503.89 |
Understanding 72-Month Personal Loans
A 72-month (6-year) personal loan represents the longer end of what most lenders offer. This extended term provides the lowest possible monthly payment for your loan amount, which can make it feasible to borrow larger sums while keeping monthly obligations manageable. However, the extended repayment period means you will pay substantially more in total interest.
Fewer lenders offer 72-month terms compared to the standard 36 or 60-month options. Lenders such as SoFi, Discover, and Marcus by Goldman Sachs include 72-month terms for borrowers who qualify. Availability may depend on your credit profile, loan amount, and the specific lender's policies.
When to Consider a 72-Month Term
A 72-month term is most sensible when you qualify for a relatively low interest rate. At rates below 10%, the additional interest from the longer term is more moderate and may be an acceptable trade-off for significantly lower monthly payments. At higher rates, the extra two years of interest can make the loan substantially more expensive than shorter alternatives.
If you are considering a 72-month loan at a rate above 20%, carefully evaluate whether the total repayment amount is worth the convenience of lower monthly payments. In many cases, finding ways to reduce the loan amount or secure a lower rate through credit improvement may be more beneficial in the long run.
Frequently Asked Questions
Which lenders offer 72-month personal loans?
Not all lenders offer 72-month terms. SoFi, Discover, Marcus by Goldman Sachs, and Upgrade are among the lenders that include 72-month options. Check each lender's term range when comparing offers.
How much more interest do you pay over 72 months?
Significantly more than shorter terms. On a $25,000 loan at 12% APR, you would pay approximately $10,072 in total interest over 72 months, compared to $4,800 over 36 months. The total interest roughly doubles.
Is a 72-month loan ever a smart choice?
A 72-month term can be reasonable if you qualify for a low interest rate and need the lowest possible monthly payment. If your rate is below 10%, the extra interest from the longer term is less punishing. It is generally not recommended at high APRs.
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Related Resources
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Learn moreCompare Lenders
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