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Loading PaisaToolsHow long to clear your card — and what paying only the minimum really costs
Reviewed by the PaisaTools Editorial Team · Last reviewed September 2026
How to use: Enter your outstanding balance, the card's yearly rate and what you can pay each month — you'll see the time to clear it, the interest, and how the minimum-due path compares.
Example₹1,00,000 at 42%, paying ₹5,000/month → clears in ~3 years; paying only the minimum → 20+ years and over ₹2 lakh interest
Per year. Indian cards typically charge 36–48% a year (about 3–4% per month).
Your plan
2y 11m
to clear it, paying ₹5,000 a month
Interest you'll pay
₹74,989
Total paid
₹1,74,989
If you pay only the minimum
Paying just the ~5% minimum due, this balance takes 20y 8m to clear and costs ₹2.27L in interest — often more than the amount you borrowed.
Your plan saves about ₹1.52L in interest and clears it 17y 9m sooner.
A monthly reducing-balance estimate. Real cards add GST on interest, late fees and finance charges on new spends — treat this as a planning guide. The minimum-due figure uses a typical ~5% rule.
A credit card is the most expensive everyday borrowing most people ever do — roughly 3–4% a month, 36–48% a year. The danger isn't the rate on its own; it's the “minimum amount due” printed on every statement. Pay only that (about 5% of the balance) and the bank is delighted: most of it clears the interest, barely any touches the principal, and a modest balance can sit on your card for over a decade.
This calculator makes the trap visible. Enter your outstanding balance, the card's rate and what you can pay each month, and it shows how long you'll actually take to clear it and the total interest — right next to the minimum-only path, so you can see exactly what paying more buys you.
Two rules follow from the maths: pay well above one month's interest (or the balance never shrinks), and stop putting new spends on the card until it's clear. If the rate is 40%+, also check whether a personal loan or an EMI conversion at a lower rate would cost far less overall.
A monthly reducing-balance calculation: interest = balance × (APR ÷ 12), added each month before your payment is applied. Indian credit cards commonly charge 3–4% per month (about 36–48% annually), and the minimum amount due is typically around 5% of the outstanding, subject to a floor. This tool estimates interest only; actual statements also levy 18% GST on the interest, late-payment fees and finance charges on fresh spends, so real costs run higher. It's an educational planning guide, not financial advice — check your card's exact terms.