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Credit Card Interest Calculator

See exactly how long it takes to pay off a credit card balance with a fixed monthly payment, and the shocking amount of interest you'll pay at typical card rates.

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💳 Enter Balance Details

36%
Warning: Credit card rates are 24–48% p.a. Always pay full dues to avoid interest!

📊 Payoff Results

Enter values and click Calculate
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Disclaimer: Results provided by this calculator are for educational and estimation purposes only. They do not constitute formal financial, investment, or tax advice. Actual returns, rates, and tax treatment depend on your specific circumstances and prevailing regulations. Consult a certified financial advisor or chartered accountant before making financial decisions.

Why Credit Card Debt Is So Expensive

Indian credit card issuers typically charge 30-42% APR on revolving (unpaid) balances — dramatically higher than any other common form of borrowing. This calculator simulates paying down your balance with a fixed monthly payment, applying interest to the remaining balance each month, to show exactly how long payoff takes and how much interest accrues.

Worked Example

A ₹50,000 balance at a typical 36% APR, paying ₹3,000/month: it takes 24 months to clear, and you'll pay ₹20,360 in interest — over 40% of the original balance, on top of everything you already owed. Paying only the minimum due (often just 5% of the balance) stretches payoff to many years longer and can multiply the total interest paid several times over.

Frequently Asked Questions

Minimum payments (typically 5% of the balance) are structured to keep you in debt as long as possible — at 36% APR, a ₹1 lakh balance paying only the minimum can take over 9 years to clear and cost ₹2.5+ lakh in interest. Always pay as much above the minimum as you can, or better, pay the full statement balance every cycle to avoid interest entirely.
Often yes — this is called debt consolidation. Personal loan rates (10-24%) are typically far below credit card rates (30-42%), so transferring the balance can cut your interest cost substantially, provided you don't run the credit card balance back up afterward. Compare the personal loan's total cost against continuing to pay down the card directly using this calculator.
Yes — your credit utilization ratio (balance ÷ credit limit) is a major factor in your CIBIL score. Keeping utilization below 30% of your limit, and ideally paying the full balance each month, both improves your score and avoids interest entirely.
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