Monthly Payment on a $12,000 Loan at 20% APR for 18 Months
A $12,000 loan at 20% APR repaid over 18 months has a monthly payment of $777.16. Over the full 18 months (1.5 years) term you'd pay $1,988.85 in total interest, bringing the total cost of the loan to $13,988.85. 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
$777.16
at 20% APR
Total Interest
$1,988.85
over 18 months
Total Cost
$13,988.85
principal + interest
Loan Summary
$12,000 · 20% APR · 18 months
| Loan amount | $12,000 |
| Interest rate (APR) | 20% |
| Term | 18 months (1.5 years) |
| Monthly payment | $777.16 |
| Total interest paid | $1,988.85 |
| Total cost of loan | $13,988.85 |
Loan Calculator
Monthly Payment
$777.16
Total Paid
$13,988.85
Total Interest
$1,988.85
$12,000 at 20% APR · 18-Month Loan FAQs
What is the monthly payment on a $12,000 loan at 20% APR for 18 months?
The monthly payment on a $12,000 loan at 20% APR over 18 months is $777.16. 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 $12,000 loan?
At 20% APR over 18 months, you'll pay $1,988.85 in total interest on a $12,000 loan. Combined with the $12,000 you borrowed, the total amount repaid is $13,988.85.
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.
Same Loan at a Different APR
Explore This Loan Further
Related tools:
Loan Calculator Debt Payoff Calculator Compound Interest Calculator