Monthly Payment on a $10,000 Loan at 20% APR for 18 Months
A $10,000 loan at 20% APR repaid over 18 months has a monthly payment of $647.63. Over the full 18 months (1.5 years) term you'd pay $1,657.38 in total interest, bringing the total cost of the loan to $11,657.38. A 20% 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
$647.63
at 20% APR
Total Interest
$1,657.38
over 18 months
Total Cost
$11,657.38
principal + interest
Loan Summary
$10,000 · 20% APR · 18 months
| Loan amount | $10,000 |
| Interest rate (APR) | 20% |
| Term | 18 months (1.5 years) |
| Monthly payment | $647.63 |
| Total interest paid | $1,657.38 |
| Total cost of loan | $11,657.38 |
Loan Calculator
Monthly Payment
$647.63
Total Paid
$11,657.38
Total Interest
$1,657.38
$10,000 at 20% APR · 18-Month Loan FAQs
What is the monthly payment on a $10,000 loan at 20% APR for 18 months?
The monthly payment on a $10,000 loan at 20% APR over 18 months is $647.63. 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 $10,000 loan?
At 20% APR over 18 months, you'll pay $1,657.38 in total interest on a $10,000 loan. Combined with the $10,000 you borrowed, the total amount repaid is $11,657.38.
Is 20% a good APR for a personal loan?
A 20% 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.
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