See the fixed monthly payment, total interest and balance by year if you clear a credit card balance (or a loan used to repay it) over a set period.
Card issuers in India usually quote interest as a monthly percentage on the outstanding balance. This calculator converts that into a fixed monthly payment that clears the balance in the time you choose, assuming you stop using the card for new purchases while you repay.
How to use it. Multiply the monthly rate in your card's MITC or KFS by 12 and enter it as the annual rate (3.5% a month = 42% a year; 3.75% = 45%). Enter the period in years (1.5 = 18 months). If you plan to move the balance to a personal loan or a card EMI plan, enter that rate instead and put the processing fee with 18% GST under upfront costs.
Worked example (illustrative). ₹1,00,000 at 42% a year over 2 years needs about ₹6,227 a month; total interest is about ₹49,455. The same balance on a loan at 14% over 2 years costs about ₹4,801 a month and about ₹15,231 in interest, before fees. The calculation ignores GST on card interest, which the issuer adds to the interest each month, so the real card cost is about 18% higher on the interest part.
Limits. Card interest is charged on daily balances from transaction dates, and new spending restarts the clock, so real payments differ. Use this to compare options, not to predict your statement. See the minimum amount due and card EMIs.
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