Credit Card Interest Calculator
See how long it takes and how much interest you pay if you only pay the minimum due, compared with a fixed monthly payment.
About Credit Card Interest Calculator
Carrying a credit card balance is expensive, and paying only the minimum due makes it last for years. This free credit card interest calculator shows exactly how long and how costly that is. Enter the outstanding balance and your card's monthly interest rate, as printed on your statement.
Add the minimum due percentage and floor amount, then enter a fixed amount you could pay instead. The calculator compares the two plans: months to clear the balance and total interest paid. Indian cards typically charge 3–3.75% a month plus GST on interest, so the difference can be large. It runs in your browser.
How to use Credit Card Interest Calculator
- Enter the outstanding balance and your card’s monthly interest rate.
- Enter the minimum due percentage and floor amount from your statement.
- Enter a fixed amount you could pay instead and compare the two plans.
Frequently asked questions
How expensive is credit card debt?
Indian cards typically charge 3–3.75% a month on unpaid balances — about 36–45% a year — plus 18% GST on the interest. Paying only the minimum can stretch a balance over many years.
What is the minimum amount due?
Usually 5% of the total outstanding (or a floor such as ₹200), plus any EMIs, fees and overlimit amounts. Paying it avoids late fees but not interest.
Is this exact?
It assumes no new spending and that interest is charged on the balance left after each payment. In reality, once you carry a balance you also lose the interest-free period on new purchases and interest runs from each transaction date, so the true cost is usually higher.
How is credit card interest calculated?
Interest is charged monthly on the unpaid balance at the card's monthly rate, from the transaction date once you carry a balance, plus 18% GST on the interest.
What is the minimum due on a credit card?
It is the smallest amount you must pay by the due date to avoid a late fee, usually about 5% of the outstanding plus any EMIs and fees.
What happens if I pay only the minimum due?
You avoid a late fee, but interest is charged on the remaining balance and on new purchases, so the debt can take years to clear.
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