Credit Card Interest & Minimum Due Calculator
See exactly what paying only the minimum due really costs you.
Payoff Timeline (Minimum-Only Path)
| Year | Total Paid So Far | Balance Remaining |
|---|---|---|
| Calculating… | ||
These calculators are provided for general informational and educational purposes only and do not constitute financial, tax, or legal advice. Results are estimates only. Please consult a qualified financial professional before making any financial decisions.
How Credit Card Interest Actually Works
Credit cards charge interest on any balance you carry past the due date, typically at 30-45% per year in India - far higher than most loans. Interest compounds monthly, and paying only the minimum due keeps you technically current while the balance barely shrinks.
The Formula
Interest = Balance × (APR ÷ 12) ÷ 100
Frequently Asked Questions
What happens if I only ever pay the minimum due?
Paying only the minimum due keeps your account in good standing, but the remaining balance keeps accruing interest - often at 30-45% per year on Indian cards - so the payoff can stretch for years and cost several times the original balance in interest.
Is credit card interest calculated on the full statement balance or just the unpaid part?
Once you carry forward any balance, most issuers charge interest on the entire outstanding amount from the transaction date, and new purchases usually lose their interest-free period too until the revolving balance is cleared.
Does paying a little extra each month actually help?
Yes, significantly - because credit card APRs are so high, even a modest extra payment on top of the minimum due cuts both the payoff time and total interest by a large margin.