Credit Card EMI Calculator

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MONTHS
%
Yearly/monthly repayment schedule
2025
MonthBeginning balanceEMIPrincipalInterestEnding Balance
Mar20,00,00067,38845,72121,66719,54,279
Apr19,54,27967,38846,21721,17119,08,062
May19,08,06267,38846,71720,67118,61,345
Jun18,61,34567,38847,22320,16518,14,122
Jul18,14,12267,38847,73519,65317,66,387
Aug17,66,38767,38848,25219,13617,18,135
Sep17,18,13567,38848,77518,61316,69,360
Oct16,69,36067,38849,30318,08516,20,057
Nov16,20,05767,38849,83717,55115,70,220
Dec15,70,22067,38850,37717,01115,19,843
2026
MonthBeginning balanceEMIPrincipalInterestEnding Balance
Jan15,19,84367,38850,92316,46514,68,920
Feb14,68,92067,38851,47515,91314,17,445
Mar14,17,44567,38852,03215,35613,65,413
Apr13,65,41367,38852,59614,79213,12,817
May13,12,81767,38853,16614,22212,59,651
Jun12,59,65167,38853,74213,64612,05,909
Jul12,05,90967,38854,32413,06411,51,585
Aug11,51,58567,38854,91212,47610,96,673
Sep10,96,67367,38855,50711,88110,41,166
Oct10,41,16667,38856,10911,2799,85,057
Nov9,85,05767,38856,71610,6719,28,341
Dec9,28,34167,38857,33110,0578,71,010
2027
MonthBeginning balanceEMIPrincipalInterestEnding Balance
Jan8,71,01067,38857,9529,4368,13,058
Feb8,13,05867,38858,5808,8087,54,478
Mar7,54,47867,38859,2148,1746,95,264
Apr6,95,26467,38859,8567,5326,35,408
May6,35,40867,38860,5046,8845,74,904
Jun5,74,90467,38861,1606,2285,13,744
Jul5,13,74467,38861,8225,5664,51,922
Aug4,51,92267,38862,4924,8963,89,430
Sep3,89,43067,38863,1694,2193,26,261
Oct3,26,26167,38863,8533,5342,62,408
Nov2,62,40867,38864,5452,8431,97,863
Dec1,97,86367,38865,2442,1441,32,619
2028
MonthBeginning balanceEMIPrincipalInterestEnding Balance
Jan1,32,61967,38865,9511,43766,668
Feb66,66867,38866,6667222
EMI payable
Total Interest
Payable amount

Managing credit card expenses can be challenging, especially when faced with a high outstanding balance. This is where a credit card EMI calculator becomes essential. It is a powerful online tool that helps you estimate your monthly EMI payments, making loan repayment more manageable. By using this calculator, you can plan your finances efficiently and avoid financial strain. In this article, we’ll explore how the credit card loan EMI calculator works, its key benefits, and how you can use it to streamline your financial planning.

What Is Credit Card EMI Calculator?

A credit card EMI Calculator is an internet-based application that assists you in approximating your monthly installment when you convert your credit card dues into EMIs. With the input of vital information such as the outstanding balance, rate of interest, and repayment period, the calculator gives you a precise calculation of your Equated Monthly Installment (EMI).

The calculator makes financial planning easier by enabling you to compare various repayment plans, assisting you in managing your credit card payments effectively without financial hardship.

How To Use Credit Card EMI Calculator?

You can follow these simple steps to use the credit card EMI calculator:

  • Scroll up to the top of this page. 
  • Enter the principal amount, interest rate and tenure into the online calculator.
  • The calculator will automatically calculate the monthly instalment amount within a split second. 
  • There is also a year-on-year amortisation schedule of the repayment tenure that you can use to understand the total interest payable during the tenure. 

What Is Credit Card EMI Calculator Formula?

The following is the formula that the credit card EMI calculator uses to calculate the monthly instalment amount:

E=[P×R×(1+R)^N] ÷ [(1+R)^N-1]

Where,

  • E refers to the Equated Monthly Instalment amount
  • P refers to the principal amount
  • R refers to the interest rate the lender charges
  • N refers to the total duration of the credit card loan

Example Of Credit Card EMI Calculator

Let us understand the above formula with an example,

  • For instance, you have opted for a Rs. 1,00,000 credit card for 12 months at a 9% interest rate. 
  • Using the above formula, the monthly instalment amount will be Rs. 8745, and the total interest payable for the tenure is Rs. 4,942. 
  • In addition, the total amount you owe to your lender is Rs. 1,04,942, including the interest amount.

Credit Card Interest Rates and Tenure

Credit card interest rates significantly impact your overall borrowing costs. However, the credit card interest rate and tenure differ from one lender to another. Usually, you can select the credit card tenure between 3, 6, 9, 12, 24, 26 and 48 months according to your repayment capacity. 

In addition, here is a table portraying the monthly and annual percentage rates of credit cards offered by top banks in India:

Bank NameMonthly Percentage Rate (MPR)%Annual Percentage Rate (APR)%
HDFC Bank3.40%40.80%
SBI BankUp to 3.50%Up to 42%
Axis BankUp to 3.60%Up to 52.86%
IndusInd BankUp to 3.83%Up to 46%
Kotak Mahindra BankUp to 2.49%Up to 29.88%
Yes BankUp to 2.4%Up to 28.8%

Note: Please keep in mind the interest rates of these banks are subject to change. 

Benefits Of Using Credit Card EMI Calculator

The following are some key benefits of using the credit card no-cost EMI calculator:

  • Precise Estimations: It gives precise EMI estimation, which is very useful in effective financial planning and budgeting, thereby aiding in making the right financial decisions.
  • Saves Time: The calculator saves time because it is able to provide EMI details instantaneously, hence eliminating the necessity of doing the calculations manually.
  • User-Friendly Interface: The calculator is made with a minimalistic layout in mind, hence making it very simple for anyone who wants to use it irrespective of technical expertise.
  • Customisable Options: It simply calculates and compares a number of rates and tenures for any given combinations of interest. Flexibility enables the individual to enjoy the best schedule consistent with their choice in relation to their finances, resulting in overall satisfaction.

Factors Affecting Credit Card EMI

Here are the key factors that can affect your credit card EMI:

Principal Amount: 

  • It is the amount outstanding which you want to convert into EMIs.
  • The greater the principal amount, the higher your monthly instalments will be, impacting your budget and financial planning significantly.

Interest Rate: 

  • The rate of interest levied on your outstanding credit card balance plays an important role in EMI calculation. 
  • The lower the interest rate, the lower the EMIs become and the lower the cost of borrowing, which has a direct impact on your finances.

Loan Tenure: 

  • It is the period for which a user will be repaying the EMI. 
  • If the tenure is stretched, it may reduce the value of EMI to be paid each month but will increase the total interest amount over time. 
  • Therefore, it is crucial to balance between affordability and total costs.

Processing Fee: 

  • In most cases, the processing fee is levied on credit card dues while c converting it into an EMI. 
  • Hence, it adds to the overall cost of EMI. 

Foreclosure and Prepayment: 

  • These are terms associated with the premature closure or prepayment of EMI payments. 
  • Some lenders demand penalties if the tenure is closed before expiration, so you must know these conditions to prevent extra fees and ensure smooth repayment.

How To Convert Credit Card Bill Into EMI

Converting your credit card bill into EMIs is a simple process that can be done through various methods. Here’s how you can do it:

  • Check Eligibility: Verify if your credit card provider offers an EMI conversion option and whether your transaction meets the required criteria.
  • Select the Transaction: Choose the specific transaction or the total outstanding amount you wish to convert into EMIs.
  • Determine the Tenure: Pick a repayment period that suits your budget, typically ranging between 3 to 24 months.
  • Confirm the Process: Complete the EMI conversion through net banking, phone banking, or by contacting customer support.

Mistakes To Avoid In Credit Card EMI Calculator

Here are a few mistakes you must avoid when using a credit card EMI calculator to make informed financial decisions:

Entering Incorrect Loan Amounts: 

  • One of the most common mistakes is putting in the wrong loan amount. 
  • A higher figure will inflate your calculated EMI, and a smaller amount might make you feel you can afford the loan, which might not be true. 
  • You must always review if the amount reflects your actual borrowing needs.

Ignoring Loan Tenure: 

  • Selecting a shorter tenure will lower the interest cost, but increase monthly installments, pushing your expenses over limits and making it difficult to manage finances. 
  • Therefore, consider your financial status to select a tenure as per your income and expenses.

Ignoring Interest Rates: 

  • The interest rate plays a pivotal role in calculating your EMI. 
  • Ignoring it can lead to huge differences between estimated and actual payments. 
  • Always check the prevailing interest rate to plan accurately.

Overlooking Additional Charges: 

  • Borrowers usually consider the amount borrowed and the interest rates; they forget the processing fees, prepayment charges, or late payment penalties. 
  • All these can fortune in the end for your total repayment amount. 
  • Hence, you must dig up information on all the relevant fees to make a better budget.

Not Considering Prepayment Options:

  • Some lenders do not charge penalties for early repayments, presenting an opportunity to reduce overall interest costs. 
  • You can check with the financial lender regarding their prepayment policies and determine whether making additional payments is financially beneficial for you.

Taking Cash Advances: 

  • Some credit cards offer cash advances but with relatively high interest rates. 
  • Therefore, it is best used only in situations where an urgent need arises, and there are no other options available. 
  • Be sure to understand the interest rate and any hidden fees of the cash advance

The credit card EMI calculator is an invaluable tool for managing credit card debt effectively. By providing instant and accurate calculations, it empowers users to make informed financial decisions regarding repayments. This tool simplifies the process of converting outstanding dues into manageable EMIs while offering insights into interest rates and loan tenures. With its user-friendly interface, borrowers can explore various repayment options tailored to their financial situation. Ultimately, leveraging a credit card loan EMI calculator enhances financial planning, making debt management easier and reducing financial stress.

                                          Related Credit Card EMI Calculators
SBI Credit Card EMI CalculatorICICI Credit Card EMI CalculatorKotak Credit Card EMI Calculator
Axis Bank Credit Card EMI CalculatorHDFC Credit Card EMI Calculator 
                                                Related Loan EMI Calculators
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Frequently Asked Questions

What is the credit card EMI interest rate?

The interest rate for credit card EMIs differs from one lender to another. It depends on the card issuer and transaction type.

Does a credit card EMI calculator come with GST?

Credit card EMI calculators may include GST in their calculations. When determining the EMI, ensure that applicable taxes on interest and processing fees are included.

Can I use a credit card EMI calculator for 36 months of credit tenure?

Yes, you can use the credit card EMI calculators to compute repayments for tenures up to 36 months. Many financial lenders provide this option for flexibility in long-term planning.

How is EMI calculated on a credit card?

EMI is calculated on a credit card using the formula: [P x R x (1+R)^N] / [(1+R)^N-1], where P is the principal, R is the monthly interest rate, and N is the tenure.

Does credit card EMI have interest?

Yes, most credit card EMIs include interest, which is charged based on the outstanding amount and tenure.

What bank credit card EMI calculators can I find?

Almost all major banks, including HDFC, SBI, ICICI, and Kotak, offer credit card no-cost EMI calculator on their websites or mobile apps.

What information should I include in these credit card EMI calculators?

You must provide details in the credit card EMI calculators, like the outstanding amount, interest rate, and desired tenure for accurate EMI calculations.

Is the EMI calculator for different bank credit cards a paid service?

No, most credit card no-cost EMI calculators offered by banks and financial institutions are free to use.

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