Credit card interest calculator
Find out how long a card balance takes to clear if you pay only the minimum due, compared with a fixed amount each month.
Enter the rate from your bank or lender. Rates change; this tool does not know current rates.
The smallest minimum due your card asks for.
Assumes no new purchases, no late fees, and every payment made on time.
Minimum due only
277 months (about 23.1 years)
- Interest
- ₹1,53,419.44₹1.5 lakh
- GST on interest
- ₹27,615.49
- Total paid
- ₹2,31,034.93₹2.3 lakh
Fixed ₹5,000 a month
14 months (about 1.2 years)
- Interest
- ₹13,416.92
- GST on interest
- ₹2,415.04
- Total paid
- ₹65,831.96
| Year | Minimum due only | Fixed amount |
|---|---|---|
| 1 | ₹43,910 | ₹5,569 |
| 2 | ₹38,562 | ₹0 |
| 3 | ₹33,865 | ₹0 |
| 4 | ₹29,740 | ₹0 |
| 5 | ₹26,118 | ₹0 |
| 6 | ₹22,937 | ₹0 |
| 7 | ₹20,143 | ₹0 |
| 8 | ₹17,690 | ₹0 |
| 9 | ₹15,535 | ₹0 |
| 10 | ₹13,643 | ₹0 |
| 11 | ₹11,981 | ₹0 |
| 12 | ₹10,522 | ₹0 |
| 13 | ₹9,240 | ₹0 |
| 14 | ₹8,115 | ₹0 |
| 15 | ₹7,126 | ₹0 |
| 16 | ₹6,258 | ₹0 |
| 17 | ₹5,496 | ₹0 |
| 18 | ₹4,827 | ₹0 |
| 19 | ₹4,239 | ₹0 |
| 20 | ₹3,716 | ₹0 |
| 21 | ₹3,012 | ₹0 |
| 22 | ₹1,868 | ₹0 |
| 23 | ₹8 | ₹0 |
| 24 | ₹0 | ₹0 |
Estimates for illustration only, based on the numbers you enter. Your bank or lender may calculate differently. This is not financial, tax or legal advice.
Real cards charge interest daily from each transaction date, stop the interest-free period while you carry a balance, and may add late fees. Your actual cost can be higher. Check your card statement for your rate.
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Join the betaHow it's calculated
Assumptions: no new purchases, no late fees, and every payment made on time.
Each month, interest is the balance × the monthly rate, rounded to the paisa. If GST is on, 18% of the interest is added. The statement is the balance plus interest plus GST.
The minimum due is the larger of the minimum percentage of the statement and the minimum amount. The payment is the minimum due (or your fixed amount), never more than the statement, and the rest carries forward.
The calculation stops when the balance reaches zero, or after 100 years.
Questions
Why does paying the minimum take so long?
Most of a small minimum payment goes to interest and GST, so the balance falls very slowly. Paying a fixed, larger amount clears it much faster.
What monthly rate should I enter?
Use the monthly finance charge shown on your card statement or in your card's terms. It is often quoted per month.
Is GST charged on card interest?
Yes, GST applies to interest and fees charged by card issuers. You can switch it off above to compare.