Calculate revolving monthly interest charges and payoff timeline on unpaid credit card balances.
Result
Excludes 18% GST charged on finance fees. Pay off high-interest card debt promptly.
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Monthly Finance Charge = (Outstanding Balance × Monthly Rate% × Days) / 365
₹75,000 balance at 3.5%/month (42% APR) paying ₹6,000/month.
Payoff Time: 17 Months | Total Interest Paid: ~₹24,400.
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Open calculatorCredit cards are completely unsecured revolving loans with no collateral. Most Indian banks charge between 3.0% and 3.6% per month, equating to an annual percentage rate (APR) of 36% to 43.2%.
Paying only the 5% Minimum Amount Due primarily covers interest fees, leaving principal balance compounding indefinitely for decades.
Carrying a rolling balance terminates your card's interest-free grace period, meaning every new transaction incurs instant daily finance charges from the purchase date.