Monthly Payment on a $10,000 Loan at 12% APR for 24 Months
A $10,000 loan at 12% APR repaid over 24 months has a monthly payment of $470.73. Over the full 24 months (2 years) term you'd pay $1,297.63 in total interest, bringing the total cost of the loan to $11,297.63. A 12% APR is typical for borrowers with good credit (690+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$470.73
at 12% APR
Total Interest
$1,297.63
over 24 months
Total Cost
$11,297.63
principal + interest
Loan Summary
$10,000 · 12% APR · 24 months
| Loan amount | $10,000 |
| Interest rate (APR) | 12% |
| Term | 24 months (2 years) |
| Monthly payment | $470.73 |
| Total interest paid | $1,297.63 |
| Total cost of loan | $11,297.63 |
Loan Calculator
Monthly Payment
$470.73
Total Paid
$11,297.63
Total Interest
$1,297.63
$10,000 at 12% APR · 24-Month Loan FAQs
What is the monthly payment on a $10,000 loan at 12% APR for 24 months?
The monthly payment on a $10,000 loan at 12% APR over 24 months is $470.73. 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 12% APR over 24 months, you'll pay $1,297.63 in total interest on a $10,000 loan. Combined with the $10,000 you borrowed, the total amount repaid is $11,297.63.
Is 12% a good APR for a personal loan?
A 12% APR is generally available to borrowers with good credit (690+). This is a mid-range rate — improving your credit score or adding a co-signer could help you qualify for a lower one.
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