Where do these numbers come from?
- Standard formulasAmortization M = P·r(1+r)^n / ((1+r)^n − 1) and monthly compoundingreviewed Oct 23, 2026
- Freddie MacPMMS mortgage-rate benchmarkweek of Oct 22, 2026
Checked Oct 23, 2026. $320,000 at 6.5% over 360 months: this calculator gives $2,022.62 a month and =PMT(6.5%/12; 360; -320000) in LibreOffice Calc (same PMT as Excel and Google Sheets) returns 2,022.62.
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$30,000 personal loan: monthly payment
| APR | 12 mo | 24 mo | 36 mo | 48 mo | 60 mo |
|---|---|---|---|---|---|
| 8% | $2,609.65 | $1,356.82 | $940.09 | $732.39 | $608.29 |
| 12% | $2,665.46 | $1,412.20 | $996.43 | $790.02 | $667.33 |
| 16% | $2,721.93 | $1,468.89 | $1,054.71 | $850.21 | $729.54 |
| 20% | $2,779.04 | $1,526.87 | $1,114.91 | $912.91 | $794.82 |
| 25% | $2,851.33 | $1,601.15 | $1,192.79 | $994.71 | $880.54 |
| 30% | $2,924.61 | $1,677.38 | $1,273.55 | $1,080.18 | $970.60 |
Worked example
At 12% APR over 36 months, the payment is $996.43 and total interest is $5,871. The same loan at 25% APR costs $12,941 in interest: the rate matters more than the term for total cost.
Rates in the tables are a range for comparison, not current market quotes. Payments are principal and interest only unless stated.
Frequently asked questions
What is the monthly payment on a $30,000 loan?
$996.43 for 36 months at 12% APR.