ક્રેડિટ કાર્ડ દેવું ચૂકવવાનું કૅલ્ક્યુલેટર

1. તમારા કાર્ડની બાકી રકમ અને કાર્ડની શરતોમાં લખેલો વ્યાજ દર (માસિક) દાખલ કરો (ઘણી વાર મહિને 3થી 3.75%).
2. વ્યાજ પર 18% જીએસટી ઉમેરો ચાલુ જ રહેવા દો, કારણ કે કાર્ડ કંપનીઓ ફાઇનાન્સ ચાર્જ પર તે લે છે.
3. તમે દર મહિને જે નક્કી રકમ ભરી શકો તે તમારી નક્કી માસિક ચુકવણી ખાનામાં દાખલ કરો.
4. તમારા કાર્ડનો મિનિમમ ડ્યૂનો નિયમ દાખલ કરો: મિનિમમ ડ્યૂ (સ્ટેટમેન્ટના %) અને કાર્ડ જે સૌથી નાની રકમ માગે છે તે મિનિમમ ડ્યૂની લઘુતમ રકમ.
5. તમે કેટલા સમયમાં દેવામુક્ત થશો, ફક્ત મિનિમમ ભરવાથી કેટલો ખર્ચ થશે, બાકી રકમનો ચાર્ટ અને મહિનાવાર ચુકવણીનું કોષ્ટક જુઓ.

Why credit card debt grows so fast

If you pay your full credit card bill by the due date, you pay no interest. The moment you carry even part of it forward, the card charges finance charges, usually about 3% to 3.75% a month on Indian cards, which is 36% to 45% a year. Card issuers also charge 18% GST on that interest and on fees, so 3.6% a month really costs about 4.25% a month. Few other loans in India cost this much, which is why clearing card debt quickly matters more than almost any other money goal.

How this calculator works

It repeats this every month until the balance is zero, once with your fixed payment and once paying only the minimum due (the higher of the percentage you enter and the minimum ₹ amount). Every payment is assumed to cover at least that month's interest and GST: RBI's 2022 directions on credit cards say the minimum due must not lead to the balance growing.

Simplifications. It assumes you make no new purchases and pay on time. Real cards work out interest daily from each transaction date and, while a balance is carried, usually charge interest on new purchases from the day you buy. Late fees (plus GST) apply if you miss even the minimum due. So your actual cost is likely to be somewhat higher than shown, never lower.

Worked example: the minimum due trap

You owe ₹1,00,000 at 3.6% a month, with 18% GST on interest.

• Month 1: interest ₹3,600 + GST ₹648 = ₹4,248. The statement is ₹1,04,248.
• Paying ₹10,000 a month, the balance falls to ₹94,248 after the first month and is cleared in 14 months, with about ₹32,977 paid in interest and GST.
• Paying only a 5% minimum due (₹5,212 in month 1, then less as the balance falls, never below ₹200), it takes about 31 years 6 months and costs about ₹4.28 lakh in interest and GST, over four times the original debt.

The minimum due shrinks along with the balance, so most of each payment goes to interest and very little to the principal. That is the trap: the card stays "current" and your credit report shows no default, yet the debt barely moves.

Typical charges on Indian credit cards

Exact figures differ by card. Check your card's Most Important Terms and Conditions (MITC) or the latest statement.

Ways to get out faster

• Pay as much as you can above the minimum, and stop using the card until the balance is cleared.
• Convert to EMI or take a cheaper loan. Card EMI conversion, a personal loan or a loan against an FD usually costs far less than 40%+ a year. Compare the total cost, including processing fees.
• Balance transfer to another card at a lower rate can help, but read the fee and the rate after the offer period.
• Always pay at least the minimum on time. A missed payment adds a late fee and can hurt your credit score.