Credit Card Interest Calculator
Calculate daily, monthly and annual interest on your credit card balance. See the real cost of paying only the minimum.
Most Indian credit cards charge 36–42% APR. Minimum payment is typically 5% of outstanding balance or ₹500, whichever is higher.
Credit cards charge some of the highest interest rates of any financial product — typically 36–42% APR in India (3–3.5% per month), compared to home loans at 8–9% and personal loans at 12–18%. If you carry an outstanding balance on your credit card without paying in full each month, the compounding interest can quickly become a debt trap. This calculator shows you exactly how much interest accrues daily, monthly, and annually on your outstanding balance — and the sobering reality of what happens if you only pay the minimum every month.
📋 How to Use This Calculator
Enter your current outstanding credit card balance. Enter the annual percentage rate (APR) — find this in your credit card statement, usually listed as "Finance Charges" or "Annualised Interest Rate" (typical range: 36–44% p.a.). Set the minimum payment percentage (most cards: 5% of outstanding or ₹500, whichever is higher). The calculator shows daily interest, monthly interest, annual interest projection, and crucially — how many months it takes to pay off the balance making only minimum payments, and how much total interest you pay in that time.
💡 Key Facts & Information
Credit card finance charges in India: charges apply from the transaction date if you do not pay the full statement balance. Monthly rate is typically 2.5–3.75% (APR 30–45%). Even if you pay 99% of your balance, the remaining ₹1 triggers interest on the entire spending for that month in most card agreements (full statement billing cycle interest). The minimum payment trap: on a ₹50,000 balance at 40% APR with 5% minimum payment, paying only minimums takes approximately 36 months and costs ₹29,000+ in interest on a ₹50,000 debt — almost 60% extra.