Monthly Payment on a $5,000 Loan at 20% APR for 18 Months
A $5,000 loan at 20% APR repaid over 18 months has a monthly payment of $323.82. Over the full 18 months (1.5 years) term you'd pay $828.69 in total interest, bringing the total cost of the loan to $5,828.69. A 20% 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
$323.82
at 20% APR
Total Interest
$828.69
over 18 months
Total Cost
$5,828.69
principal + interest
Loan Summary
$5,000 · 20% APR · 18 months
| Loan amount | $5,000 |
| Interest rate (APR) | 20% |
| Term | 18 months (1.5 years) |
| Monthly payment | $323.82 |
| Total interest paid | $828.69 |
| Total cost of loan | $5,828.69 |
Loan Calculator
Monthly Payment
$323.82
Total Paid
$5,828.69
Total Interest
$828.69
$5,000 at 20% APR · 18-Month Loan FAQs
What is the monthly payment on a $5,000 loan at 20% APR for 18 months?
The monthly payment on a $5,000 loan at 20% APR over 18 months is $323.82. 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 20% APR over 18 months, you'll pay $828.69 in total interest on a $5,000 loan. Combined with the $5,000 you borrowed, the total amount repaid is $5,828.69.
Is 20% a good APR for a personal loan?
A 20% 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.
Same Loan at a Different APR
Explore This Loan Further
Related tools:
Loan Calculator Debt Payoff Calculator Compound Interest Calculator