Monthly Payment on a $2,500 Loan at 8% APR for 48 Months
A $2,500 loan at 8% APR repaid over 48 months has a monthly payment of $61.03. Over the full 48 months (4 years) term you'd pay $429.55 in total interest, bringing the total cost of the loan to $2,929.55. A 8% APR is typical for borrowers with very good credit (720+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$61.03
at 8% APR
Total Interest
$429.55
over 48 months
Total Cost
$2,929.55
principal + interest
Loan Summary
$2,500 · 8% APR · 48 months
| Loan amount | $2,500 |
| Interest rate (APR) | 8% |
| Term | 48 months (4 years) |
| Monthly payment | $61.03 |
| Total interest paid | $429.55 |
| Total cost of loan | $2,929.55 |
Loan Calculator
Monthly Payment
$61.03
Total Paid
$2,929.55
Total Interest
$429.55
$2,500 at 8% APR · 48-Month Loan FAQs
What is the monthly payment on a $2,500 loan at 8% APR for 48 months?
The monthly payment on a $2,500 loan at 8% APR over 48 months is $61.03. 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 $2,500 loan?
At 8% APR over 48 months, you'll pay $429.55 in total interest on a $2,500 loan. Combined with the $2,500 you borrowed, the total amount repaid is $2,929.55.
Is 8% a good APR for a personal loan?
A 8% APR is generally available to borrowers with very good credit (720+). This is among the lower rates lenders offer and reflects strong creditworthiness.
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