Monthly Payment on a $500 Loan at 9% APR for 48 Months
A $500 loan at 9% APR repaid over 48 months has a monthly payment of $12.44. Over the full 48 months (4 years) term you'd pay $97.24 in total interest, bringing the total cost of the loan to $597.24. 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
$12.44
at 9% APR
Total Interest
$97.24
over 48 months
Total Cost
$597.24
principal + interest
Loan Summary
$500 · 9% APR · 48 months
| Loan amount | $500 |
| Interest rate (APR) | 9% |
| Term | 48 months (4 years) |
| Monthly payment | $12.44 |
| Total interest paid | $97.24 |
| Total cost of loan | $597.24 |
Loan Calculator
Monthly Payment
$12.44
Total Paid
$597.24
Total Interest
$97.24
$500 at 9% APR · 48-Month Loan FAQs
What is the monthly payment on a $500 loan at 9% APR for 48 months?
The monthly payment on a $500 loan at 9% APR over 48 months is $12.44. 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 9% APR over 48 months, you'll pay $97.24 in total interest on a $500 loan. Combined with the $500 you borrowed, the total amount repaid is $597.24.
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.
Same Loan at a Different APR
Explore This Loan Further
Related tools:
Loan Calculator Debt Payoff Calculator Compound Interest Calculator