Monthly Payment on a $3,000 Loan at 9% APR for 60 Months
A $3,000 loan at 9% APR repaid over 60 months has a monthly payment of $62.28. Over the full 60 months (5 years) term you'd pay $736.50 in total interest, bringing the total cost of the loan to $3,736.50. A 9% 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
$62.28
at 9% APR
Total Interest
$736.50
over 60 months
Total Cost
$3,736.50
principal + interest
Loan Summary
$3,000 · 9% APR · 60 months
| Loan amount | $3,000 |
| Interest rate (APR) | 9% |
| Term | 60 months (5 years) |
| Monthly payment | $62.28 |
| Total interest paid | $736.50 |
| Total cost of loan | $3,736.50 |
Loan Calculator
Monthly Payment
$62.28
Total Paid
$3,736.50
Total Interest
$736.50
$3,000 at 9% APR · 60-Month Loan FAQs
What is the monthly payment on a $3,000 loan at 9% APR for 60 months?
The monthly payment on a $3,000 loan at 9% APR over 60 months is $62.28. 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 9% APR over 60 months, you'll pay $736.50 in total interest on a $3,000 loan. Combined with the $3,000 you borrowed, the total amount repaid is $3,736.50.
Is 9% a good APR for a personal loan?
A 9% 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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