What is the Credit Card Interest Calculator? A credit card interest calculator shows how a card balance grows at around 3.5% a month plus GST, and how long it takes to clear when you pay only the minimum due or a fixed amount.
How to use the Credit Card Interest Calculator
- Enter your card outstanding.
- Enter the card's monthly interest rate.
- Enter what you can pay each month, or 0 for the minimum due.
- Compare the time and interest against paying only the minimum.
Frequently asked questions
Why does paying the minimum due cost so much?
Interest of about 3.5% a month plus 18% GST keeps running on the unpaid balance, and new purchases also attract interest until the card is cleared.
How much interest do credit cards charge?
Most Indian cards charge 3 to 3.75% a month, roughly 36 to 45% a year, plus GST.
Results are estimates based on the inputs you enter, not guaranteed returns or financial advice.