Monthly Payment on a $8,000 Loan at 9% APR for 60 Months
A $8,000 loan at 9% APR repaid over 60 months has a monthly payment of $166.07. Over the full 60 months (5 years) term you'd pay $1,964.01 in total interest, bringing the total cost of the loan to $9,964.01. 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
$166.07
at 9% APR
Total Interest
$1,964.01
over 60 months
Total Cost
$9,964.01
principal + interest
Loan Summary
$8,000 · 9% APR · 60 months
| Loan amount | $8,000 |
| Interest rate (APR) | 9% |
| Term | 60 months (5 years) |
| Monthly payment | $166.07 |
| Total interest paid | $1,964.01 |
| Total cost of loan | $9,964.01 |
Loan Calculator
Monthly Payment
$166.07
Total Paid
$9,964.01
Total Interest
$1,964.01
$8,000 at 9% APR · 60-Month Loan FAQs
What is the monthly payment on a $8,000 loan at 9% APR for 60 months?
The monthly payment on a $8,000 loan at 9% APR over 60 months is $166.07. 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 $8,000 loan?
At 9% APR over 60 months, you'll pay $1,964.01 in total interest on a $8,000 loan. Combined with the $8,000 you borrowed, the total amount repaid is $9,964.01.
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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