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Credit Card EMI Calculator

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Calculate credit card EMI cost and compare with paying in full

Calculate
₹50 thousand
₹
%
%
Monthly EMI
₹4,489/ month
Four Thousand Four Hundred Eighty Nine Rupees
Total interest
₹3,872
Processing fee
₹500
Total payment
₹54,372
including the fee
Banks also add 18% GST on the interest and the processing fee; it is not included here.
TenureEMITotal interestTotal payment
3 mo₹17,057₹1,171₹51,171
6 mo₹8,677₹2,061₹52,061
12 mo (selected)₹4,489₹3,872₹53,872
24 mo₹2,401₹7,615₹57,615

Runs entirely in your browser. Nothing you type or upload is sent to us or stored.

Results are estimates, not financial advice. Rates, charges and rules change, so confirm with your bank, post office or a financial adviser before you decide. Terms of use

How to Use

  1. Choose Purchase EMI to turn a new purchase into EMIs, or Revolving balance to see how long an existing outstanding takes to pay off.
  2. Purchase EMI: enter the purchase amount, the annual interest rate (the bank's EMI rate, usually 12–18% p.a.), the tenure and the processing fee. The comparison table lists the other tenures side by side.
  3. Revolving balance: enter the outstanding balance, the monthly interest rate (usually 3–4% a month) and what you can pay each month. You'll see how many months it takes to clear and the total interest.
  4. Results update as you type. Download the table as CSV/Excel or a pdf report, and use the numbers to decide whether EMI conversion is worth it.

Credit card interest: the cost people don't see

Revolving interest on credit cards in India usually runs at 36–48% a year (3–4% a month). Few financial products cost more. Carry a balance for even a few months and a modest purchase can cost you thousands in interest. This credit card EMI calculator shows what converting to EMI costs, and what happens if you just keep revolving the balance.

EMI conversion vs revolving credit

FeatureEMI conversionRevolving credit (min payment)
Interest rate12–18% p.a.36–48% p.a.
PredictabilityFixed EMI, fixed end dateVariable, and can drag on for years
Reward pointsUsually forfeited on EMIEarned on purchase
Processing fee1–2% of amountNil (but high interest)

The minimum payment trap

The minimum due is usually 5% of the outstanding. Paying just that keeps your card in good standing, but it hardly touches the principal. At 3.5% a month plus 18% GST on the interest, about four-fifths of a 5% minimum payment goes to interest and GST. A ₹50,000 balance paid off at the minimum (never less than ₹200) takes over 20 years to clear and costs about ₹1.8 lakh in interest and GST. Pay the full statement amount whenever you can.

Credit card tips

  • Pay the full statement balance before the due date, not just the minimum.
  • You only get the interest-free period (usually 45–52 days) if you paid last month's balance in full.
  • Convert big purchases (above ₹10,000) to EMI only when you really can't pay in full.
  • "No-cost EMI" isn't always free. The discount you'd get for paying upfront is often built into the price.

Frequently Asked Questions

Usually 12–18% p.a. for converting a purchase to EMI (Axis, HDFC and ICICI typically charge 13–15%). Revolving credit, where you pay only the minimum, costs 36–48% p.a. (3–4% a month). Some 'no-cost EMI' offers look interest-free because the merchant gives the bank a discount or cashback that covers the interest. In return you may give up an upfront discount you could have negotiated, or your right to return the item.

A personal loan is usually cheaper. It typically costs 10–14% p.a., against 13–18% for card EMI and 36–48% for revolving credit. Card EMI is quicker, though: no documents, instant approval and no separate loan agreement. For more than ₹50,000 or longer than 12 months, a personal loan normally works out cheaper. For smaller sums over 3–6 months, card EMI is convenient.

The full purchase amount is blocked from your limit when you convert, then released bit by bit as you pay each EMI. Say you have a ₹1 lakh limit and put a ₹60,000 purchase on a 6-month EMI. Your usable limit drops to ₹40,000, then goes up to ₹50,000 after the first month, and so on.

Several things. You pay a late fee (₹500–₹1,200 depending on the outstanding). Interest is charged on the whole outstanding at the revolving rate (3–4% a month). Some banks cancel the EMI conversion and bill the full amount at once. And your CIBIL score takes a hit, a big one if you're 30+ days late. Set up auto-pay for at least the minimum amount.