Monthly Payment on a $12,000 Loan at 20% APR for 84 Months
A $12,000 loan at 20% APR repaid over 84 months has a monthly payment of $266.47. Over the full 84 months (7 years) term you'd pay $10,383.85 in total interest, bringing the total cost of the loan to $22,383.85. 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
$266.47
at 20% APR
Total Interest
$10,383.85
over 84 months
Total Cost
$22,383.85
principal + interest
Loan Summary
$12,000 · 20% APR · 84 months
| Loan amount | $12,000 |
| Interest rate (APR) | 20% |
| Term | 84 months (7 years) |
| Monthly payment | $266.47 |
| Total interest paid | $10,383.85 |
| Total cost of loan | $22,383.85 |
Loan Calculator
Monthly Payment
$266.47
Total Paid
$22,383.85
Total Interest
$10,383.85
$12,000 at 20% APR · 84-Month Loan FAQs
What is the monthly payment on a $12,000 loan at 20% APR for 84 months?
The monthly payment on a $12,000 loan at 20% APR over 84 months is $266.47. 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 84 months, you'll pay $10,383.85 in total interest on a $12,000 loan. Combined with the $12,000 you borrowed, the total amount repaid is $22,383.85.
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.
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