Monthly Payment on a $10,000 Loan at 20% APR for 30 Months
A $10,000 loan at 20% APR repaid over 30 months has a monthly payment of $426.30. Over the full 30 months (2.5 years) term you'd pay $2,788.88 in total interest, bringing the total cost of the loan to $12,788.88. 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
$426.30
at 20% APR
Total Interest
$2,788.88
over 30 months
Total Cost
$12,788.88
principal + interest
Loan Summary
$10,000 · 20% APR · 30 months
| Loan amount | $10,000 |
| Interest rate (APR) | 20% |
| Term | 30 months (2.5 years) |
| Monthly payment | $426.30 |
| Total interest paid | $2,788.88 |
| Total cost of loan | $12,788.88 |
Loan Calculator
Monthly Payment
$426.30
Total Paid
$12,788.88
Total Interest
$2,788.88
$10,000 at 20% APR · 30-Month Loan FAQs
What is the monthly payment on a $10,000 loan at 20% APR for 30 months?
The monthly payment on a $10,000 loan at 20% APR over 30 months is $426.30. 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 30 months, you'll pay $2,788.88 in total interest on a $10,000 loan. Combined with the $10,000 you borrowed, the total amount repaid is $12,788.88.
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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