Credit card interest calculator
Month-by-month estimate
Educational estimate only. Actual charges depend on issuer rules, taxes, and transaction dates.
Formula
Monthly interest is estimated using Annual interest rate ÷ 12. The balance reduces each month after adding interest and subtracting your payment.
Worked example
Example: if the balance is ₹60,000, the annual rate is 36%, and the monthly payment is ₹5,000, the first month interest estimate is around ₹1,800.
How to interpret the result
If your payment barely exceeds monthly interest, repayment becomes very slow and total interest climbs quickly.
Important limitations
Actual card issuers may use daily balance methods, transaction dates, GST, fees, and fresh purchases differently. This tool is a simple estimate, not a billing statement.
Frequently asked questions
Why is my card interest so high?
Because credit card annual rates are usually much higher than many other forms of borrowing.
What if my payment is too low?
This calculator warns you when the payment is too low to meaningfully reduce the balance.
Do new purchases make repayment slower?
Yes. If you add fresh charges while repaying, the total time and interest can increase.
Is minimum due enough?
Minimum due usually avoids immediate default, but it often leads to very slow repayment.
Does this include all bank fees?
No. It is an educational estimate, not a full issuer charge calculator.
Finance disclaimer
This calculator is for educational purposes only. It does not provide personalized financial, tax, legal, credit, or investment advice. Results are simplified estimates and may differ from actual bank, issuer, employer, lender, or tax outcomes.