About this tool
Indian credit cards typically charge 3–3.75% a month (about 36–45% a year). Paying only the minimum can stretch a balance over years.
Getting out of credit card debt faster
Credit card debt is expensive because interest is charged every month at a high rate, and GST is added on top of that interest. If you carry a balance, the most powerful step is simply paying more than the minimum. This calculator shows how long it will take to clear what you owe and how much interest you will pay along the way, so you can see the effect of a larger monthly payment.
The difference can be striking. On a ₹1 lakh balance at around 42% a year, paying ₹5,000 a month takes roughly 44 months and costs over ₹1.1 lakh in interest and GST. Doubling the payment to ₹10,000 clears the balance in about 14 months, with interest of around ₹32,000. The extra ₹5,000 a month saves more than ₹80,000 and nearly three years.
A few practical habits help. Stop using the card for new purchases while you pay it down, otherwise the balance keeps refilling. If you have savings earning far less than the card charges, using part of them to clear the debt is usually sensible, provided you keep a small emergency fund. Converting the balance to an EMI plan or taking a personal loan at a lower rate can also cut costs, but check the processing fees first. Once the balance is cleared, setting the card to auto-pay the full statement amount each month means you never pay card interest again, and your credit score benefits too. If you hold balances on more than one card, clear the one with the highest rate first while paying the minimum on the rest.
How to use it
- Enter your numbers in the boxes, or drag the sliders.
- Read the result on the right. It updates as you type.
- Open the year-by-year table, if shown, to see how the numbers change over time.
- Use 'Copy link with these values' to save the calculation or send it to someone.
Questions
Why does my balance fall so slowly?
At around 42% a year, most of a small payment goes to interest. Raising the payment even a little shortens the payoff time sharply.
Is converting to EMI cheaper?
Usually yes. Card EMI conversions are often 13–24% a year plus a processing fee, far below the revolving rate.
Last reviewed 16 October 2026. Results are estimates for planning. Check important figures with your bank, employer or a qualified adviser.