Credit Card Payoff Calculator
Months and interest to clear a card balance when you pay a fixed amount. You type the monthly rate. Calculated instantly in your browser.
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Your result
Months to clear
1 yr 1 mo
- Total interest
- ₹20,675
- Total paid
- ₹1,20,675
- Interest in month one
- ₹3,000
- Balance left
- ₹0
Chacha's tip
Small changes move the numbers more than you'd think. Tap one to try it.
- The monthly rate is the one you typed from the card's terms. It is not a statutory rate, and this page does not add GST or a late fee.
Month by month
| Month | Interest | Payment | Balance left |
|---|---|---|---|
| 1 | ₹3,000 | ₹10,000 | ₹93,000 |
| 2 | ₹2,790 | ₹10,000 | ₹85,790 |
| 3 | ₹2,574 | ₹10,000 | ₹78,364 |
| 4 | ₹2,351 | ₹10,000 | ₹70,715 |
| 5 | ₹2,121 | ₹10,000 | ₹62,836 |
| 6 | ₹1,885 | ₹10,000 | ₹54,721 |
| 7 | ₹1,642 | ₹10,000 | ₹46,363 |
| 8 | ₹1,391 | ₹10,000 | ₹37,754 |
| 9 | ₹1,133 | ₹10,000 | ₹28,886 |
| 10 | ₹867 | ₹10,000 | ₹19,753 |
Disclaimer: A payoff sketch from numbers you typed, not a card statement and not a statutory rate.
How it's calculated
Month interest = balance left × monthly rate
New balance = balance + interest − payment
The last month's payment is only what is left, including that month's interest
This is a revolving balance with no new spends. It is not a minimum-due formula, and it is not the reducing-balance EMI used for a personal loan.
Assumptions
- The monthly rate, the balance and the payment are what you type.
- No new swipes are added.
- No GST, late fee or annual fee.
- The sketch stops at 360 months if the payment is only just above the interest.
How to use this calculator
- Enter the balance. The amount you are revolving, not the credit limit.
- Enter the monthly rate. The rate on the card terms. Replace the 3% placeholder.
- Enter the monthly payment. The rupee amount you will pay, which must be more than the interest or the balance will not fall.
- Read the months and the interest. Then try a higher payment. Compare a personal-loan EMI separately if you have a sanction.
Frequently asked questions
What rate should I type?
The monthly interest rate in the card's most important terms, or on the statement. The 3% in the form is a placeholder so the page has a number. It is not your card's rate and not a Reserve Bank cap.
Does this use the minimum amount due?
No. Banks set the minimum due in the card terms, and it is not one statutory percentage. Type the rupee amount you will actually pay each month.
What if the payment is less than the interest?
The balance does not fall. Months to clear stays at zero, and the note shows the first month's interest. Paying only the interest leaves the principal where it is.
Are GST and late fees included?
No. The interest here is balance times the monthly rate you typed. GST on interest, annual fees and late fees are extra. They are not added on this page.
How do I compare this with a personal loan?
Use the EMI calculator with the rate and tenure on the sanction letter. This page does not choose a loan rate. A loan is cheaper only if the card stays cleared afterwards.
Why does a higher payment help so much?
Interest is charged on whatever balance is left. A payment that clears principal, not only interest, shortens the months. Raise the payment box and read Months to clear again.
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Results from FinanceChacha are estimates for planning and education, not financial, tax or legal advice.