Credit Card Interest Calculator
Calculate interest on revolving credit card balances and payoff timeline
Card Details
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%
Typical range: 24% - 42% p.a.
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Credit Card Debt Warning:
Credit cards have the highest interest rates. Always pay more than the minimum to avoid debt trap.
Time to Pay Off
13 months
Principal
₹50,000
Total Interest
₹10,338
Payment Summary
Outstanding Balance₹50,000
Monthly Payment₹5,000
Interest Rate36% p.a.
Total Interest Paid₹10,338
Months to Payoff13 (1.1 years)
Total Amount Paid₹65,000
Interest Impact
Principal Amount76.9%
Interest Paid15.9%
Tip: Increasing your monthly payment by just ₹1,000 could save you thousands in interest!
How Credit Card Interest Works
Credit card interest is calculated daily and compounded monthly on your outstanding balance. If you only pay the minimum amount, most of your payment goes toward interest, not principal.
This is why credit card debt can quickly spiral out of control. Always aim to pay more than the minimum to reduce the principal faster.
Tips to Avoid Credit Card Debt
- •Pay full balance every month to avoid interest
- •Never pay just the minimum amount due
- •Use credit cards for convenience, not borrowing
- •Keep credit utilization below 30% of limit
- •Consider balance transfer to lower interest cards