See whether and how fast your credit card clears and what the interest costs - paying only the minimum due, a fixed monthly amount, or a little extra.
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Enter your outstanding balance to see whether and how fast the card clears and what the interest costs - at the minimum due, a fixed payment, or paying extra.
To work out how much you can put toward payoff each month, try the Salary Calculator. For a fixed-EMI loan, such as after a balance transfer, use the EMI Calculator.
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financeTL;DR
Paying only the minimum amount due on a credit card can stretch repayment over years, because the minimum is a small percent of a shrinking balance while interest keeps accruing on the full outstanding. For each of three paths - minimum only, a fixed monthly payment, and paying a little extra - it shows the months to clear, total interest, debt-free date, and interest saved, for any path that clears within the 50-year cap. Enter your balance, your card's monthly rate (typically ~3.5% a month, about 42% a year), and your minimum-due terms; everything is editable, because banks set these differently. Runs in your browser.
| Monthly rate | Typically ~3.5% a month (about 42% a year); set by your card |
| Minimum amount due | Usually about 5% of the outstanding, subject to a rupee floor; varies by bank |
| How interest works | Once you carry a balance, interest applies to the full outstanding and new purchases lose the interest-free period, until it is cleared |
| Negative amortisation | RBI requires the minimum due to be set so the balance does not grow; a payment at or below the interest does not reduce the principal, so the debt never clears |
| This tool computes | For minimum-only, fixed, and fixed-plus-extra: the months to clear, total interest, and debt-free date when a path clears within the 50-year cap |
The minimum amount due is a small percent of your outstanding balance (often around 5%), so as the balance falls the minimum falls with it, while interest keeps being charged on whatever you still owe. Early on, most of your minimum payment goes to interest and barely touches the principal, which is why a card paid at the minimum can take many years and cost more in interest than the original balance. The Reserve Bank of India requires card issuers to warn that paying only the minimum due extends repayment over years, and to disclose how finance charges are calculated.
Because interest is charged on the full outstanding, anything above the minimum goes straight at the principal and shortens the payoff sharply. Fixing a monthly payment, or adding a little extra on top, clears the card sooner and cuts the total interest - the calculator shows the difference in rupees whenever both paths clear within the 50-year cap. If you are considering moving the balance to a fixed-EMI loan or a balance transfer, compare the equated instalments with the EMI Calculator, and to plan how much you can put toward payoff each month, use the Salary Calculator. To weigh a card's rewards against its annual fee, see the Credit Card Savings Calculator.
Finance-charge disclosure, the minimum-only repayment warning, the no-negative- amortisation rule for the minimum amount due, and the treatment of interest on partial payments are from the Reserve Bank of India Master Direction - Credit Card and Debit Card (Issuance and Conduct) Directions, 2022 (as amended) and the RBI FAQ on credit cards. The exact minimum-due formula and finance-charge rate vary by issuer, so this tool takes them as editable inputs and defaults to typical values. A planning aid, not financial advice; it computes no tax.