Monthly Payment on a $1,000 Loan at 24% APR for 84 Months
A $1,000 loan at 24% APR repaid over 84 months has a monthly payment of $24.68. Over the full 84 months (7 years) term you'd pay $1,072.77 in total interest, bringing the total cost of the loan to $2,072.77. A 24% APR is typical for borrowers with poor or building credit (below 630). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$24.68
at 24% APR
Total Interest
$1,072.77
over 84 months
Total Cost
$2,072.77
principal + interest
Loan Summary
$1,000 · 24% APR · 84 months
| Loan amount | $1,000 |
| Interest rate (APR) | 24% |
| Term | 84 months (7 years) |
| Monthly payment | $24.68 |
| Total interest paid | $1,072.77 |
| Total cost of loan | $2,072.77 |
Loan Calculator
Monthly Payment
$24.68
Total Paid
$2,072.77
Total Interest
$1,072.77
$1,000 at 24% APR · 84-Month Loan FAQs
What is the monthly payment on a $1,000 loan at 24% APR for 84 months?
The monthly payment on a $1,000 loan at 24% APR over 84 months is $24.68. This is calculated with the standard amortization formula and assumes equal fixed payments for the full term.
How much total interest will I pay on this $1,000 loan?
At 24% APR over 84 months, you'll pay $1,072.77 in total interest on a $1,000 loan. Combined with the $1,000 you borrowed, the total amount repaid is $2,072.77.
Is 24% a good APR for a personal loan?
A 24% APR is generally available to borrowers with poor or building credit (below 630). This is on the higher end. Shopping multiple lenders, reducing your debt-to-income ratio, or improving your credit before applying can lower your rate substantially.
Same Loan at a Different APR
Explore This Loan Further
Related tools:
Loan Calculator Debt Payoff Calculator Compound Interest Calculator