Credit card interest & payoff
See how long a credit-card balance takes to clear and what the interest really costs, and why paying only the minimum due keeps you in debt for years.
Runs entirely in your browserRuns entirely on your device — nothing you type is sent anywhere. Educational only, and not investment advice.
How to use this calculator
Each step names a control you will find on screen above.
- Outstanding balance
What you currently owe on the card and are carrying past the due date.
- Interest rate (annual)
Indian cards charge roughly 3–3.75% a month, which is about 40–45% a year. Check your statement for the exact figure.
- Monthly payment
What you will actually pay each month. Try the minimum (about 5% of the balance) and then a larger fixed amount, and watch the difference.
Worked example: A ₹1,00,000 balance at 42%
A ₹1,00,000 balance at 42% a year, paying a fixed ₹5,000 a month.
What to enter
- Outstanding balance
- ₹1,00,000
- Interest rate (annual)
- 42%
- Monthly payment
- ₹5,000
What it shows you
- Time to clear
- 35 months (2y 11m)
- Total interest
- ≈ ₹74,989
- Interest vs balance
- ~75% of what you owed
- Paying only the minimum
- Years, and far more interest
Where this is taught
A calculator gives you a number. These explain what the number means and when it misleads you.
- Market Basics10 minYour credit score, and why an investor should careNot a market topic, and it decides what your borrowing costs — which decides whether investing borrowed money was ever sensible.
- Market Basics11 minUsing a credit card well, or not at allA free short-term loan and a record of your reliability — or the most expensive borrowing available to an Indian household. The difference is one behaviour.