Credit Card Interest Calculator
Enter your card balance, interest rate and monthly payment — the truth of how many months it takes and how much interest you'll pay is laid bare.
How to use — Credit Card Interest Calculator
- Enter the credit card's total outstanding balance.
- Enter the card's monthly interest rate — found on the statement, usually 3–3.75% per month.
- Enter how much you can pay each month.
- Click Calculate — see how many months it'll take and the real total interest.
FAQ
Why is credit card interest so high?
Card rates are 3–3.75% PER MONTH = 36–45% per year! That's 3x higher than a personal loan (11–16%). This is why carrying a card balance is the most expensive kind of debt.
What happens if I only pay the minimum due?
Paying the minimum due (~5%) avoids the late fee, but interest keeps accruing on the rest of the balance — and new purchases lose their grace period too. A ₹50,000 balance can take years to clear at minimum due.
What's the right way to avoid interest?
Pay the FULL bill by the due date — that's zero interest. If the balance is large, converting to a personal loan (11–16%) or a balance transfer card works out cheaper.
How is this calculated?
Each month: interest at balance × monthly rate is added, then your payment is subtracted. Months are counted until the balance reaches zero. If the payment is less than the interest, the balance will never clear — the calculator will warn you.