Credit card minimum due calculator

The minimum due keeps the card in good standing but barely touches the balance. See how long it takes and what it costs, against a fixed monthly payment.

A card balance carried over

Balance on the card₹Interest a month%About 43% a yearMinimum due% of balance…but at least₹Or a fixed payment of₹

Paying only the minimum, the balance takes 31 yrs 5 mo to clear and costs ₹4,27,853 in interest and GST.

Assumes nothing new is spent on the card. Interest on a carried balance usually also applies to new purchases until the balance is cleared in full.

₹5,000

first month's minimum due

₹4,248

first month's interest with GST

1 yrs 2 mo, ₹32,977

paying ₹10,000 a month: time and cost

How it is worked out

Each month, interest at the card's monthly rate is added to the balance, with 18% GST on that interest. Then the payment is subtracted. The minimum due is usually a small share of the balance, often around 5%, with a floor such as ₹200, so as the balance shrinks the minimum shrinks too, and the last part of the balance takes years.

Card interest is usually quoted per month: 3.6% a month is about 43% a year before compounding and GST. Most cards also stop the interest-free period on new purchases while any balance is carried, which this calculator leaves out.

Questions

What happens if I pay only the minimum due on a credit card?

There is no late fee, but interest of roughly 3% to 4% a month plus GST is charged on the whole balance, and new purchases usually lose their interest-free period until the balance is cleared.

How is credit card interest calculated in India?

Interest is charged daily on the outstanding balance from the transaction date at the card's monthly rate, and GST at 18% is added to the interest.

Is paying the minimum due bad for my credit score?

Paying at least the minimum on time avoids a missed payment. A high balance compared with the card limit can still affect the score.

Educational calculator only, not financial, tax or investment advice. Results follow the formulas and the assumptions you enter; actual amounts depend on your lender, bank, employer and the rules that apply to you. Past performance does not indicate future results. Read the Disclaimer.