Monthly Payment on a $2,000 Loan at 11% APR for 12 Months
A $2,000 loan at 11% APR repaid over 12 months has a monthly payment of $176.76. Over the full 12 months (1 year) term you'd pay $121.16 in total interest, bringing the total cost of the loan to $2,121.16. A 11% 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
$176.76
at 11% APR
Total Interest
$121.16
over 12 months
Total Cost
$2,121.16
principal + interest
Loan Summary
$2,000 · 11% APR · 12 months
| Loan amount | $2,000 |
| Interest rate (APR) | 11% |
| Term | 12 months (1 year) |
| Monthly payment | $176.76 |
| Total interest paid | $121.16 |
| Total cost of loan | $2,121.16 |
Loan Calculator
Monthly Payment
$176.76
Total Paid
$2,121.16
Total Interest
$121.16
$2,000 at 11% APR · 12-Month Loan FAQs
What is the monthly payment on a $2,000 loan at 11% APR for 12 months?
The monthly payment on a $2,000 loan at 11% APR over 12 months is $176.76. 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 $2,000 loan?
At 11% APR over 12 months, you'll pay $121.16 in total interest on a $2,000 loan. Combined with the $2,000 you borrowed, the total amount repaid is $2,121.16.
Is 11% a good APR for a personal loan?
A 11% 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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