Calculate how long it takes to pay off your credit card and how much interest you pay.
| Total Interest Paid | — |
| Total Amount Paid | — |
| Interest if paying only 5% of balance monthly (hypothetical illustration - balance under ₹10 treated as cleared; no fees/GST modeled) | — |
Indian credit cards charge high revolving interest on unpaid balances - for example, SBI Card charges up to 3.75% per month (45% per annum) on unsecured cards per its MITC. Paying only the minimum due (a small share of the balance; the formula varies by issuer) can take many years to clear the full balance and cost several times the original debt in interest.
Q: What is minimum due on Indian credit cards?
A: It varies by issuer. SBI Card calculates it as 100% of GST, EMI, fees and finance charges plus 2% of the remaining balance (rule effective July 2025). HDFC Bank calculates it as 5% of retail spends, cash advances and finance charges, plus 100% of fees and GST (effective June 2025). Paying only the minimum due extends repayment for years and accumulates heavy interest - always pay the full outstanding by the due date.
Q: What happens if I miss a credit card payment?
A: Late payment fee (₹500-1,300), interest charged from transaction date, CIBIL score impact, and potential account blocking. Always set auto-pay for at least minimum due.
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