Credit Card Interest Calculator

Indian credit card rates range from 24–48% APR because unsecured revolving credit has no collateral. The RBI does not cap credit card rates. Banks price in high default risk on revolving balances. This is 3–5x higher than personal loan rates (11–18%).

Paying only the minimum (usually 5% of balance) means you never clear the principal. On ₹50,000 at 36% APR: paying ₹2,500/month (5%) takes over 3 years and costs ₹45,000+ in interest — nearly doubling your payment. Always pay the full statement amount.

Yes — if you pay the FULL statement outstanding by the due date every month, you pay zero interest (20–50 day interest-free period). Interest kicks in only when you carry a balance (revolve). Paying even ₹1 less than full outstanding triggers interest on the entire amount.

Interest accrues daily from the transaction date if you revolve. Formula: Outstanding × (APR/365) × days. For 36% APR: daily rate is 0.0986%. On ₹50,000, that is ₹49/day or ₹1,500/month. Many banks also charge a flat 2–3.5% per month.

Two proven methods: (1) Avalanche — pay highest-rate card first, minimums on rest. Saves most interest. (2) Snowball — pay smallest balance first for psychological wins. Consider a balance transfer to a 0% card or a personal loan at 12–15% to convert high-rate CC debt.