Debt & Cards calculator
See how long a credit card balance takes to clear and how much interest it costs at a chosen monthly payment, or with only the minimum payment, and compare paying more each month.
Interactive calculator
Estimate the payoff time and interest on a revolving credit card balance, and compare paying more each month. This is an estimate, not a card statement.
What to do next
Formula, example, assumptions, and FAQs — open any section for the detail.
Monthly rate = APR ÷ 12 ÷ 100 · Interest = balance × monthly rateThe annual rate is divided by 12 for a monthly rate. Interest is added to the balance each month before the payment is applied.
New balance = balance + interest − paymentEach month the interest is added and the payment is subtracted. The balance falls only if the payment is larger than the interest.
Minimum = higher of (balance × minimum % ) and the minimum floorThe minimum is usually a percentage of the balance, or a small fixed floor when that percentage is tiny. Because it shrinks as the balance falls, the minimum stretches repayment over many years.
Fixed mode: 50% higher payment · Minimum mode: the first minimum kept flatThe comparison re-runs the payoff with a larger or flat payment to show how many months and how much interest a higher payment saves.
A balance of ₹1,00,000 sits at 42% a year (3.5% a month). The first month’s interest alone is ₹3,500.
Calculation:Paying a fixed ₹5,000 a month clears it in about 35 months with roughly ₹74,989 interest. Paying only the minimum (5% of the balance or ₹200) takes about 226 months and roughly ₹2,03,573 interest. Holding the first minimum of ₹5,175 flat instead would clear it in about 33 months.
Result:A fixed ₹5,000 a month clears the card in under 3 years; the minimum-only route takes nearly 19 years and costs far more interest. Paying a steady, higher amount dramatically cuts both time and cost.
Payoff is simulated month by month using a monthly rate of APR ÷ 12, with whole-rupee rounding. Real cards may compute interest daily, use different cycles, and add fees and GST, so the actual cost can be higher. The minimum-payment percentage and floor are editable typical values, not a specific card’s terms.
On a revolving balance, interest is charged on the outstanding amount, here using the annual rate divided by 12 each month. It is added to the balance before your payment is applied, so unpaid interest itself starts earning interest.
The minimum is a small share of the balance, so most of it goes to interest and the balance falls slowly. As the balance drops, the minimum drops too, stretching repayment over many years and multiplying the interest.
If the payment is smaller than the month’s interest, the balance does not reduce and can grow. The calculator flags this so you can raise the payment above the monthly interest.
Usually no. Credit card rates are typically much higher than home or personal loan rates, which is why a card balance is one of the most expensive forms of everyday borrowing.
No. It estimates interest and payoff only. Late fees, over-limit fees, GST on interest and fees, and other charges are not included and would add to the cost.
Yes. Enter your own balance, rate, and payment. The calculator does not assume any specific bank or card; the percentage and floor for the minimum are editable.
Pay a fixed amount well above the monthly interest, keep it steady instead of dropping to the minimum, and avoid adding new purchases to a revolving balance. The comparison shows the effect of paying more.
Cards may compute interest daily, apply different billing cycles, add fees and taxes, or treat purchases and cash withdrawals differently. Treat this as a planning estimate and check your statement.
This calculator provides a general estimate for understanding credit card costs, not financial advice or a card statement. Actual interest, fees, taxes, and minimum payments depend on your card issuer and agreement. Check your statement and terms.Read the full disclaimer.