Monthly Payment on a $10,000 Personal Loan (2024)

The monthly payment on a $10,000 loan ranges from $137 to $1,005, depending on the APR and how long the loan lasts. For example, if you take out a $10,000 loan for one year with an APR of 36%, your monthly payment will be $1,005. But if you take out a $10,000 loan for seven years with an APR of 4%, your monthly payment will be $137.

Almost all personal loans offer payoff periods that fall between one and seven years, so those periods serve as the minimum and maximum in our calculations. In addition, these calculations assume that if the lender has an origination fee, it’s built into the APR. Some lenders charge an origination fee up front, so your monthly payments might be smaller as a result.

Below are the monthly payments that you can expect on a $10,000 loan with different payoff periods. The table assumes you will be paying interest at an APR of 15%, which is roughly the average personal loan APR.

Monthly Payments on a $10,000 Personal Loan

Payoff period


Monthly payment

1 year



2 years



3 years



4 years



5 years



6 years



7 years



The length of your repayment period will help dictate how much you pay in interest, along with your APR. For example, paying off a $10,000 loan with a 15% APR over the course of one year will cost you approximately $830 in interest, while extending the same loan's payment period to seven years leads to $6,200 in interest.

If you’d like to try out any other combinations of payoff periods and interest rates before you apply, you can use WalletHub’s free personal loan calculator.

Once you get approved for a personal loan, you will receive information on exactly what your monthly payment will be, and you’ll be able to access that information any time through your online account or by looking at one of your monthly bills.

This answer was first published on 08/31/21 and it was last updated on 12/12/23. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

Monthly Payment on a $10,000 Personal Loan (2024)


What is the monthly payment on a $10,000 personal loan? ›

Here's how much you'd pay each month for a $10,000 personal loan
Two-Year Repayment$452.27/month, $854.55 in interest over time
Five-Year Repayment$202.76/month, $2,165.84 in interest over time
Seven-Year Repayment$155.86/month, $3,092.42 in interest over time
Jan 17, 2024

What would be my monthly payment on a 10000 loan? ›

Representative Example

Representative 6.1% APR, based on a loan amount of £10,000, over 5 years, at a Fixed Annual Interest Rate of 5.9358%, (nominal). This would give you a monthly repayment of £193.02 and a total amount repayable of £11,581.20.

What credit score do I need for a $10000 personal loan? ›

To increase your chance of qualifying for a $10,000 unsecured loan, you should have a credit score of 600 or higher. Some lenders start their minimum credit score requirements at 600, however, there are some lenders that require a credit score in the high 600s or low 700s.

How easy is it to get a $10,000 dollar loan? ›

Your credit score can make or break your ability to get a $10,000 loan. Generally, it can be hard to meet personal loan requirements if your credit score is below 640. That doesn't mean that it's impossible, but you may need to stick to bad credit loans (which typically have higher APRs).

How much is a $10,000 loan for 5 years? ›

Advertising Disclosures
Loan AmountLoan Term (Years)Estimated Fixed Monthly Payment*
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Is $10000 considered a small loan? ›

Key takeaways:

And small loans generally range from $1,000 to $10,000 and can generally be obtained with lower interest rates than credit cards. Borrowers should shop around for lenders that offer loans in the size they need and understand the fees associated with taking out a loan.

How much would a $100000 loan cost per month? ›

Monthly payments for a $100,000 mortgage
Annual Percentage Rate (APR)Monthly payment (15-year)Monthly payment (30-year)
5 more rows

How much can I borrow on a personal loan? ›

The personal loan amount you can qualify for is typically determined by your credit score, income, debt-to-income ratio and other factors. Although loan amounts vary across lenders, the maximum amount for personal loans typically ranges from $500 to $100,000.

How much would I pay back on a $15,000 loan? ›

Representative example
Loan amount £15,000Monthly repayments £289.54Length of agreement 60 months
Total amount repayable £17,372.40Representative 6.1% APRFixed Annual Rate of Interest (nominal) 5.9358%
1 more row

Is it hard to get a $10,000 personal loan? ›

The main factor in determining if you qualify for a $10,000 personal loan is your credit history. You'll need a credit score of at least 670 before you apply. Lenders look at your debt-to-income ratio when deciding approval. A DTI ratio of 36% or lower is ideal.

Who is the easiest to get a personal loan from? ›

Easiest-to-get personal loans compared 2024
TitleAPRMin. credit score
BadCreditLoans.com5.99% to 35.99%Undisclosed
Upstart5.2% to 35.99%300
Avant9.95% to 35.99%580
LendingClub8.98% to 35.99%600
6 more rows
May 7, 2024

How to get 10k immediately? ›

Types of instant money loans
  1. Payday loans: Short-term loans typically repaid by your next payday.
  2. Personal loans: Unsecured loans with quick approval and disbursal, often used for various purposes.
  3. Emergency loans: Specifically designed for unexpected financial needs, with quick approval and funding.
Mar 18, 2024

What is the easiest loan to get approved for? ›

What is the easiest loan to get approved for? The easiest types of loans to get approved for don't require a credit check and include payday loans, car title loans and pawnshop loans — but they're also highly predatory due to outrageously high interest rates and fees.

Can anyone get a 10k loan? ›

$10,000 loans may be available to borrowers with different kinds of credit histories, but each lender will have its own requirements for approval. It's worth keeping in mind that the best loan terms usually go only to people with excellent credit.

What bank gives personal loans? ›

Summary: Best Personal Loans From Banks
CompanyForbes Advisor RatingCurrent APR range
TD Bank3.58.99% to 23.99%
Discover3.57.99% to 24.99%
Wells Fargo3.57.49% to 23.24%
PNC Bank3.0Rates may vary by ZIP code
2 more rows
May 1, 2024

What is the monthly payment on $9000 personal loan? ›

Personal Loan Calculator
24 mos.$267$480
36 mos.$199$358
48 mos.$166$298
60 mos.$147$264

How much would a $8000 loan cost per month? ›

Example Monthly Payments on an $8,000 Personal Loan
Payoff periodAPRMonthly payment
12 months15%$722
24 months15%$388
36 months15%$277
48 months15%$223
3 more rows
Aug 31, 2021

Which bank is best for a personal loan? ›

  • HDFC Bank Personal Loan.
  • State Bank of India Personal Loan.
  • Axis Bank Personal Loan.
  • IDFC FIRST Bank Personal Loan.
  • ICICI Bank Personal Loan.
  • Federal Bank Personal Loan.
  • Bajaj Finserv Personal Loan.
  • IndusInd Bank Personal Loan.
May 15, 2024

What credit score do you need for a personal loan? ›

Payment history is weighed the most heavily in determining your credit score, along with your total outstanding debt. Generally, borrowers need a credit score of at least 610 to 640 to even qualify for a personal loan. To qualify for a lender's lowest interest rate, borrowers typically need a score of at least 800.

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