Monthly Payment on a $3,000 Loan at 28% APR for 48 Months
A $3,000 loan at 28% APR repaid over 48 months has a monthly payment of $104.56. Over the full 48 months (4 years) term you'd pay $2,018.71 in total interest, bringing the total cost of the loan to $5,018.71. A 28% 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
$104.56
at 28% APR
Total Interest
$2,018.71
over 48 months
Total Cost
$5,018.71
principal + interest
Loan Summary
$3,000 · 28% APR · 48 months
| Loan amount | $3,000 |
| Interest rate (APR) | 28% |
| Term | 48 months (4 years) |
| Monthly payment | $104.56 |
| Total interest paid | $2,018.71 |
| Total cost of loan | $5,018.71 |
Loan Calculator
Monthly Payment
$104.56
Total Paid
$5,018.71
Total Interest
$2,018.71
$3,000 at 28% APR · 48-Month Loan FAQs
What is the monthly payment on a $3,000 loan at 28% APR for 48 months?
The monthly payment on a $3,000 loan at 28% APR over 48 months is $104.56. 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 $3,000 loan?
At 28% APR over 48 months, you'll pay $2,018.71 in total interest on a $3,000 loan. Combined with the $3,000 you borrowed, the total amount repaid is $5,018.71.
Is 28% a good APR for a personal loan?
A 28% 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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