Credit Card Interest Calculator
Calculate interest charges and payoff timeline
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Months to Pay Off
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Monthly Interest
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Total Interest Paid
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Total Amount Paid
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What is credit card interest?
Credit card interest is charged on balances not paid in full by the due date. Credit cards in India charge 24–48% APR — among the highest of any loan product. Missing even one full payment means interest compounds rapidly on your outstanding balance.
Formula used
Monthly interest = Outstanding balance × (APR ÷ 12 ÷ 100)
Months to pay off:
n = log(payment ÷ (payment − balance × monthly rate)) ÷ log(1 + monthly rate)
Where monthly rate = APR ÷ 12 ÷ 100
How to use this calculator
- Enter your outstanding credit card balance
- Enter the Annual Percentage Rate / APR (check your card's MITC — typically 36–42% in India)
- Enter your planned monthly payment
- Click Calculate — see months to payoff and total interest
Example
Example 1 — Typical Indian credit card debt:
Balance: ₹50,000 | APR: 36% | Monthly payment: ₹3,000
Monthly interest = ₹50,000 × 3% = ₹1,500
Only ₹1,500 of your ₹3,000 reduces the debt!
Months to pay off: 22 months | Total interest paid: ₹16,400
Example 2 — Paying minimum only (very costly):
Balance: ₹50,000 | APR: 36% | Minimum payment: ₹2,100
Time to payoff: over 7 years | Total interest: over ₹1,30,000
You pay ₹1.8 lakh to clear a ₹50,000 debt!
How much extra payment saves:
| Monthly payment | Months to clear | Total interest |
|---|---|---|
| ₹2,000 (minimum) | 86 months | ₹1,22,000 |
| ₹3,000 | 22 months | ₹16,400 |
| ₹5,000 | 12 months | ₹7,800 |
Frequently asked questions
Most Indian credit cards charge 3–3.5% per month = 36–42% per annum. Some premium cards offer lower rates of 2–2.5%/month (24–30% APR). Check your card's MITC (Most Important Terms & Conditions) document.
A late fee of ₹500–1,200 is charged, you lose the interest-free period on new purchases, and your CIBIL score drops. Missed payments are reported to credit bureaus after 30 days.
Yes, if you cannot pay the full balance. Converting to a 3–12 month EMI at 12–18% is far cheaper than the 36%+ revolving credit charge. Call your bank to do this.