Monthly Payment on a $20,000 Loan at 18% APR for 12 Months
A $20,000 loan at 18% APR repaid over 12 months has a monthly payment of $1,833.60. Over the full 12 months (1 year) term you'd pay $2,003.20 in total interest, bringing the total cost of the loan to $22,003.20. A 18% APR is typical for borrowers with fair credit (630–689). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$1,833.60
at 18% APR
Total Interest
$2,003.20
over 12 months
Total Cost
$22,003.20
principal + interest
Loan Summary
$20,000 · 18% APR · 12 months
| Loan amount | $20,000 |
| Interest rate (APR) | 18% |
| Term | 12 months (1 year) |
| Monthly payment | $1,833.60 |
| Total interest paid | $2,003.20 |
| Total cost of loan | $22,003.20 |
Loan Calculator
Monthly Payment
$1,833.60
Total Paid
$22,003.20
Total Interest
$2,003.20
$20,000 at 18% APR · 12-Month Loan FAQs
What is the monthly payment on a $20,000 loan at 18% APR for 12 months?
The monthly payment on a $20,000 loan at 18% APR over 12 months is $1,833.60. 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 $20,000 loan?
At 18% APR over 12 months, you'll pay $2,003.20 in total interest on a $20,000 loan. Combined with the $20,000 you borrowed, the total amount repaid is $22,003.20.
Is 18% a good APR for a personal loan?
A 18% APR is generally available to borrowers with fair credit (630–689). 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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