My Money

Credit card interest & payoff calculator

The “minimum amount due” feels manageable. It’s designed to be. See how long it takes and what it costs, and how much a bigger payment saves.

₹
₹1 lakh
 %
≈ 45% a year, plus 18% GST on the interest
₹
At least ₹4,425 just covers this month’s interest
How your bank sets the minimum due
This month it’s about ₹5,863. Check the “minimum amount due” on your statement.
Paying only the minimum costs you
₹3,00,406
in interest, over 22 yrs 2 mo. Paying ₹10,000 a month clears it in 1 yrs 2 mo.
Interest, minimum only
₹3 L
Interest, ₹10K/month
₹35K
You save
₹2.65 L

Balance month by month

0₹25K₹50K₹75K₹1 LYr 020m40mYr 580m100mYr 10
Minimum due only₹10,000 a month

Chart shows the first 10 years.

Card interest runs over 50% a year once GST is added — no investment reliably beats that. Clear it before investing, and pay the full bill every month from now on.
Can’t pay it off quickly? Ask your bank to convert it to an EMI, or take a personal loan at 11–16% to clear it — both cost far less than revolving.
How it’s calculated

The maths, in plain words

Monthly interest

Indian cards charge about 3–3.75% a month on a revolving balance, and 18% GST is added to that interest.

Minimum due

Big banks now make you pay the GST in full every month. HDFC Bank adds 5% of the balance and interest; SBI Card and Axis Bank take the interest in full plus 2% of the balance. Pick your bank’s rule.

Assumption

No new spending on the card while you pay it off.

Questions

People also ask

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What happens if I pay only the minimum due?
Most of each payment goes to interest and GST, so the balance falls very slowly. At 3.75% a month, ₹1 lakh takes about 22 years to clear under HDFC Bank’s rule and costs around ₹3 lakh in interest; about 17 years and ₹2.2 lakh under SBI Card’s.
Does paying the minimum hurt my credit score?
It avoids a late-payment mark, but a persistently high balance raises your credit utilisation, which does pull your score down.
Understand it

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