Making only the minimum payment on your credit card is one of the most expensive financial habits. At India's typical 36–42% annual interest rate, even a ₹50,000 balance on minimum-only payments (5% of balance) takes over 9 years and costs ₹65,000+ in interest — more than the original balance. Worse...
BANK PRESET
Month 1 Min
₹2,500
Month 1 Interest
₹1,500
Net Principal
₹1,000
CLEAR THIS DEBT IN EXACTLY N MONTHS
MINIMUM PAYMENT TOTAL COST
₹65,499
in interest over 9 yr 3 mo · 131% of original balance
TIME TO PAY OFF
9 yr 3 mo
TOTAL INTEREST
₹65,499
INTEREST / PRINCIPAL
131%
TOTAL PAID
₹1.15 L
INTEREST AS % OF ORIGINAL BALANCE
BALANCE DECLINE (MIN. ONLY)
Monthly interest = balance × 36% ÷ 12
Enter your outstanding balance, annual interest rate (check your card statement — typically 36–42% in India), and your bank's minimum payment rule (percentage and floor amount).
The calculator shows your complete month-by-month minimum payment schedule — including a warning if your minimum payment is so low that your balance actually grows.
See the total interest you will pay as a percentage of your original balance — the number that reveals just how expensive minimum payments really are.
Use the fixed payment targets to see exactly how much you need to pay monthly to clear the debt in 12, 24, or 36 months — and how much interest you save compared to minimum-only.
Sunita has a ₹1,00,000 credit card balance at 42% p.a. Her bank's minimum is 5% of balance or ₹500. Month 1 minimum: ₹5,000. Month 1 interest: ₹3,500. Making only minimum payments: 188 months (15 years 8 months), total interest ₹2,17,499 — that's 217% of the original balance. To pay off in 24 months instead: ₹5,442/month, total interest ₹30,608 — saving ₹1,86,891. Lesson: fixed payment saves over ₹1.86 lakh on a ₹1 lakh debt.
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Min payment = max(floor, pct% × balance) · Monthly interest = balance × rate/12 · Negative amortization when min payment < interest · Last updated: 29 April 2026 · Eagle-eyed accuracy for every calculation.