Share

Credit Card Interest Calculator

What does paying only the minimum cost me?

Paying the minimum due keeps your account in good standing, and that is all it does. Because the minimum shrinks as the balance does, the payment falls faster than the debt. Enter your balance and see the difference.

₹
% per month

The card's rate before GST. Most Indian cards charge 3.5% to 3.99% a month, which is 42% to 48% a year; 18% GST on the interest is added below.

₹/month

Minimum due: time to clear

27 years 9 months

Minimum due: interest and GST paid₹2,23,010
Fixed payment: time to clear1 year 2 months
Fixed payment: interest and GST paid₹15,832
Saved by paying more₹2,07,178
Real rate a month, with GST4.13%
Real rate a year, with GSTThe monthly rate × 12, as cards quote it49.56%
Compare credit cards

Indicative only. Your lender’s figures may differ. Nothing you enter here is sent anywhere or stored.

How It's Calculated

Each month the card charges interest on the balance at the monthly rate, plus 18% GST on that interest (3.5% becomes 4.13%). The calculator then takes off your payment, either the minimum due (about 5% of the balance) or the fixed amount you enter, and repeats until the balance is clear. Payments are assumed on time, so no late fee is added. A balance that would still not be clear after 50 years shows as Never.

Because the minimum shrinks as the balance does, paying only the minimum can take years. A fixed payment clears it much sooner.

Worked Example

If you enter

  • Outstanding balance₹50,000
  • Interest rate3.5 % per month
  • If you instead paid₹5,000 /month

You get

  • Minimum due: time to clear27y 9m
  • Minimum due: interest and GST paid₹2,23,010
  • Fixed payment: time to clear1y 2m
  • Fixed payment: interest and GST paid₹15,832
  • Saved by paying more₹2,07,178
  • Real rate a month, with GST4.13%
  • Real rate a year, with GST49.56%

These are the calculator's starting values. Change them above to see your own.

Cards Worth Comparing

If interest is the worry, compare fees, interest-free days and waivers before you pick a card.

Compare These 3 →See All 221 →
DiningFeatured
HSBC Live Plus Credit Card

HSBC Live Plus Credit Card

HSBC

Joining fee
₹999 + GST
Annual fee
₹999 + GST
Rewards
1.5% base, up to 10% on dining
Fee waived on
₹2 lakh spend a year
Read more
  • Earn 10% Accelerated Cashback (up to Rs 1,000/month) on dining, food delivery and groceries and Earn unlimited 1.5% Cashback on other eligible spends
  • Save up to 15% on dining bills at 200+ partner restaurants through the HSBC Live+ Dining Programme
  • 4 complimentary domestic airport lounge visits per year (1 per calendar quarter)
  • Get Rs 1,000 Cashback when you download & log into the bank’s app and spend Rs 20,000 in first 30 days
  • Receive a complimentary 12-month Times Prime subscription, giving you free access to Spotify Premium, Uber One, Discovery+, Moneycontrol Pro, Lenskart Gold and more
  • Get Amazon Pay, Swiggy, or Zomato vouchers worth up to Rs 500 on card activation with a minimum single transaction of Rs 300
Apply NowView details
TravelFeaturedLifetime Free
Federal Scapia Credit card

Federal Scapia Credit card

Scapia, issued by Federal Bank and Punjab National Bank

Joining fee
Free
Annual fee
Free
Rewards
2% on most spends; 4% only at partner merchants
Network
Visa
Read more
  • No Joining or Annual Fees
  • Enjoy International Transactions without any additional foreign currency markup fees
  • Unlock unlimited domestic lounge, complimentary dining, shopping or spa by spending Rs 20,000 on the card every month
  • Earn 20 Scapia Coins per Rs 100 on travel bookings (flights & hotels) via the Scapia app. Earn 10 Scapia Coins per Rs 100 on most online & offline spends
  • Scapia Coins can be redeemed on Scapia App for any travel (Flight/Stays/Train/Bus) bookings for 100% of the booking value (5 Scapia Coins = Re 1)
Apply NowView details
CashbackFeaturedLifetime Free
Kiwi Credit Cards

Kiwi Credit Cards

Kiwi, issued by AU Small Finance Bank

Joining fee
Free
Annual fee
Free
Rewards
1% base, up to 1.5% on UPI payments
Network
RuPay
Read more
  • Get 1.5% Cashback on eligible Scan and Pay transactions with Kiwi LTF Card
  • Get 2% Cashback on eligible Scan and Pay transactions with Kiwi Neon Card
  • 0.5% Cashback on Online Transactions (Normal Exclusions like rent, fuel etc)
  • As a Kiwi Neon user, you can earn up to 5% Cashback and lounge access on an annual spend of Rs 50,000 & above on the Kiwi App
  • As a Kiwi Neon user, get 1 complimentary airport lounge access each time you achieve the annual spend milestones of Rs 50k, 1akh & 1.5 lakh
  • Earn 2 Reward points for every Rs 200 spent on non-UPI transactions
Apply NowView details
Fuel
SBI BPCL Credit Card

SBI BPCL Credit Card

State Bank of India

Joining fee
₹499 + GST
Annual fee
₹499 + GST
Rewards
0.25% base, up to 1.25% on dining; 3.25% only at partner merchants
Fee waived on
₹1 lakh spend a year
Apply NowView details

Card data sourced via CardAdvisor.in, India Credit Card Facts, CC BY 4.0, adapted by SkyloFin.

Common Questions

What is the minimum amount due?

Usually 5% of your outstanding balance, subject to a floor of a few hundred rupees. Paying it avoids a late fee and protects your credit score, but interest continues on the entire remaining balance.

Is credit card interest really 42% a year?

Yes. Cards quote a monthly rate, typically 3.5% to 3.99%, which works out to 42% to 48% annually. It is among the most expensive borrowing available to an individual in India.

Is GST charged on credit card interest?

Yes. 18% GST is added to the interest, and to late fees and other charges, so 3.5% a month really costs 4.13% (about 49.6% a year). The figures here include it. Paying at least the minimum on time avoids the late fee, which this calculator assumes you do.

What should I do if I cannot clear the balance?

Converting the balance to an EMI plan, or moving it to a personal loan at 12% to 16%, is usually far cheaper than revolving it. Both are worth asking your issuer about before another statement cycle.

Put this calculator on your website

Free for any website or blog. Copy this code into your page; the calculator works the same as here and keeps a small link to SkyloFin.

Other calculators

Home Loan EMI CalculatorEMI CalculatorLoan Eligibility CalculatorPersonal Loan EMI CalculatorCar Loan EMI Calculator
Credit Cards

Guides in Plain Words

Short reads that explain how it works before you decide.

All Credit Cards guides
SkyloFin - Expense Tracker

Your Money. One Clear View.

Automatically organise your spending, track expenses and understand where your money goes.

  • Reads bank SMS No account linking, no passwords.
  • Sorts every rupee Into categories you can edit.
  • Bills and cards Statements found, due dates reminded.
  • Your Google Drive Backed up to you, never to us.
Get the AppSee how it works