Tools Explore credit cards
Tools

Credit card payoff calculator

Instead of asking "what does the minimum due cost me," this asks the more useful question: pick a date you want to be debt-free, and see exactly what fixed payment gets you there.

Your goal

₹80,000
42%

Indian credit card rates commonly range from roughly 30% to 45% p.a. — check your card's actual rate on your statement.

12 months

Your payoff plan

Required monthly payment
—
—
If you only pay the minimum
—
—
Total interest on this plan₹0
Total repaid on this plan₹0
Interest saved vs. minimum only₹0
See the minimum-due trap in detail →
An estimate, not your statement. This assumes a constant interest rate, a fixed payment made every month, and no new spending added to the balance. The minimum-due comparison assumes a common 5%-of-balance minimum with a ₹200 floor — your card's actual minimum-due formula may differ. Check your statement and issuer terms for the exact figures.
Minimum Due Calculator Credit Card EMI Calculator DTI Calculator The real cost of the minimum due Credit card EMI: how it works and when to avoid it

A goal, not just a "what if"

Our minimum due calculator answers "what does my current payment cost me." This calculator answers the question the other way round: "I want to be done with this by a certain date — what does that actually require?" Once you commit to a fixed payment and stop adding new spend, the balance behaves like a normal loan, not a shrinking minimum due.

How this calculator works

Required payment = the fixed monthly amount that clears the outstanding balance in your target number of months, using the standard reducing-balance EMI formula.
Minimum-only comparison = simulated month by month, since a percentage-of-balance minimum has no closed-form formula — see the minimum due calculator for exactly how that simulation works.

A worked example

₹80,000 outstanding at 42% p.a., targeting a 12-month payoff:

The required fixed payment is about ₹8,279 a month, for a total interest cost of roughly ₹19,345. Paying only a typical 5%-of-balance minimum (with a ₹200 floor) instead would take about 234 months — nearly 20 years — and cost around ₹1,80,333 in interest. Committing to the 12-month plan here saves over ₹1.6 lakh in interest, simply by fixing the payment instead of letting it shrink.

Choosing a realistic target

A shorter target lowers total interest but raises the required monthly payment; a longer one eases the monthly amount but costs more overall. There's no target that's both fast and cheap on a high-rate balance — the honest trade-off is between what you can actually afford each month and how much interest you're willing to pay for the flexibility. Check your own affordability on the DTI calculator before committing to a number.

FAQ

Common questions

How is this different from the minimum due calculator?
The minimum due calculator starts from a payment and shows how long payoff takes. This calculator starts from a payoff date you choose and works out the fixed payment needed to hit it — useful when you have a goal in mind rather than a payment amount.
What if I can't afford the required payment?
Try a longer target payoff time — the required monthly payment drops, though total interest rises. There's a real trade-off between speed and monthly affordability; there's no target that gives you both a fast payoff and a low payment on a high-rate balance.
Does this assume I stop using the card?
Yes. This calculator assumes no new spending is added to the balance while you pay it down. Continued spending extends the real payoff time beyond what's shown here.
Why is the required payment so much higher than the minimum due?
Because a minimum due set as a small percentage of the balance shrinks as the balance does, which stretches repayment over many years. A fixed payment sized to hit a real target date is usually several times the minimum on a high-rate card balance.
See the minimum-due cost instead Back to Tools