Monthly Payment on a $500 Loan at 11% APR for 12 Months
A $500 loan at 11% APR repaid over 12 months has a monthly payment of $44.19. Over the full 12 months (1 year) term you'd pay $30.29 in total interest, bringing the total cost of the loan to $530.29. 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
$44.19
at 11% APR
Total Interest
$30.29
over 12 months
Total Cost
$530.29
principal + interest
Loan Summary
$500 · 11% APR · 12 months
| Loan amount | $500 |
| Interest rate (APR) | 11% |
| Term | 12 months (1 year) |
| Monthly payment | $44.19 |
| Total interest paid | $30.29 |
| Total cost of loan | $530.29 |
Loan Calculator
Monthly Payment
$44.19
Total Paid
$530.29
Total Interest
$30.29
$500 at 11% APR · 12-Month Loan FAQs
What is the monthly payment on a $500 loan at 11% APR for 12 months?
The monthly payment on a $500 loan at 11% APR over 12 months is $44.19. 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 $500 loan?
At 11% APR over 12 months, you'll pay $30.29 in total interest on a $500 loan. Combined with the $500 you borrowed, the total amount repaid is $530.29.
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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