Estimate Your Payment
Actual APR 19.99%–35.99% based on your eligibility. This estimate uses 27.99% as a mid-range illustration.
Payment Schedule
Month-by-month breakdown of your estimated payments, principal reduction, and interest costs.
| Month | Payment | Principal | Interest | Balance |
|---|
Payment Scenarios at a Glance
| Loan Amount | 12 Months | 24 Months | 36 Months | 48 Months | 60 Months |
|---|---|---|---|---|---|
| $1,000 | $92/mo | $52/mo | $39/mo | $32/mo | $28/mo |
| $2,500 | $230/mo | $130/mo | $97/mo | $79/mo | $70/mo |
| $5,000 | $460/mo | $261/mo | $194/mo | $158/mo | $140/mo |
| $7,500 | $690/mo | $391/mo | $291/mo | $237/mo | $210/mo |
| $10,000 | $920/mo | $521/mo | $388/mo | $315/mo | $280/mo |
| $12,000 | $1,104/mo | $625/mo | $466/mo | $378/mo | $336/mo |
Estimated at 27.99% APR. Actual APR 19.99%–35.99%. Payments shown are approximate monthly equivalents. Actual repayment may be biweekly based on your pay schedule.
Understanding Your Loan Cost
The BMG Money loan calculator uses a standard amortizing loan formula. Each monthly payment covers both a portion of the principal (the amount you borrowed) and interest charges on the remaining balance. In the early months, more of your payment goes toward interest; in the later months, more goes toward principal.
What Is APR?
Annual Percentage Rate (APR) represents the yearly cost of your loan, including interest. BMG Money's APR ranges from 19.99% to 35.99%. The APR you receive depends on your loan amount, term, state, and eligibility. The calculator uses 27.99% as a mid-range estimate — your actual rate may be lower or higher.
Shorter Term vs Longer Term
A shorter loan term means higher monthly payments but less total interest paid. A longer term means lower monthly payments but more total interest over the life of the loan. Use the calculator to find the balance that fits your monthly budget without paying more interest than necessary.
BMG Money vs Payday Loans: Real Cost Comparison
For a $1,000 emergency:
| Option | Amount | Cost | Total Repay |
|---|---|---|---|
| BMG Money (24 mo, 27.99%) | $1,000 | $315 interest | $1,315 |
| Payday Loan ($15/$100 fee, rollover 6x) | $1,000 | $900+ in fees | $1,900+ |
| Credit Card (25% APR, min payments) | $1,000 | $280+ interest | $1,280+ |
Payday loan estimate assumes 6 two-week rollover cycles at $150/cycle in fees. Source: CFPB.