Monthly Payment on a $5,000 Loan at 5% APR for 12 Months
A $5,000 loan at 5% APR repaid over 12 months has a monthly payment of $428.04. Over the full 12 months (1 year) term you'd pay $136.45 in total interest, bringing the total cost of the loan to $5,136.45. A 5% APR is typical for borrowers with excellent credit (760+). Adjust the figures in the calculator below to see how a different rate, amount, or term changes your payment.
Monthly Payment
$428.04
at 5% APR
Total Interest
$136.45
over 12 months
Total Cost
$5,136.45
principal + interest
Loan Summary
$5,000 · 5% APR · 12 months
| Loan amount | $5,000 |
| Interest rate (APR) | 5% |
| Term | 12 months (1 year) |
| Monthly payment | $428.04 |
| Total interest paid | $136.45 |
| Total cost of loan | $5,136.45 |
Loan Calculator
Monthly Payment
$428.04
Total Paid
$5,136.45
Total Interest
$136.45
$5,000 at 5% APR · 12-Month Loan FAQs
What is the monthly payment on a $5,000 loan at 5% APR for 12 months?
The monthly payment on a $5,000 loan at 5% APR over 12 months is $428.04. 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 $5,000 loan?
At 5% APR over 12 months, you'll pay $136.45 in total interest on a $5,000 loan. Combined with the $5,000 you borrowed, the total amount repaid is $5,136.45.
Is 5% a good APR for a personal loan?
A 5% APR is generally available to borrowers with excellent credit (760+). This is among the lower rates lenders offer and reflects strong creditworthiness.
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