Credit Card EMI Calculator
Calculate your monthly EMI for credit card purchases. Plan your payments with accurate interest calculations and understand the total cost of your purchase.
per month for 12 months
Payment Breakdown
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹4,584 | ₹3,834 | ₹750 | ₹46,166 |
| 2 | ₹4,584 | ₹3,892 | ₹692 | ₹42,274 |
| 3 | ₹4,584 | ₹3,950 | ₹634 | ₹38,325 |
| 4 | ₹4,584 | ₹4,009 | ₹575 | ₹34,315 |
| 5 | ₹4,584 | ₹4,069 | ₹515 | ₹30,246 |
| 6 | ₹4,584 | ₹4,130 | ₹454 | ₹26,116 |
| 7 | ₹4,584 | ₹4,192 | ₹392 | ₹21,924 |
| 8 | ₹4,584 | ₹4,255 | ₹329 | ₹17,668 |
| 9 | ₹4,584 | ₹4,319 | ₹265 | ₹13,350 |
| 10 | ₹4,584 | ₹4,384 | ₹200 | ₹8,966 |
| 11 | ₹4,584 | ₹4,450 | ₹134 | ₹4,516 |
| 12 | ₹4,584 | ₹4,516 | ₹68 | ₹0 |
Pay Higher EMI if Possible
Paying ₹₹5,501 instead of ₹₹4,584 can reduce your tenure and save significant interest.
Consider Shorter Tenure
A 6-month tenure instead of 12 months doubles your EMI but can save up to 40% in interest charges.
Avoid Late Payments
Late payments attract penalties and can increase your overall cost. Set up auto-pay to avoid missing due dates.
What is Credit Card EMI?
Credit Card EMI (Equated Monthly Installment) allows you to convert your large credit card purchases into smaller, equal monthly payments. Instead of paying the full amount at once, you can spread the cost over 3 to 60 months, making expensive purchases more manageable.
How is Credit Card EMI Calculated?
Credit Card EMI is calculated using the reducing balance method with the formula:
Where P = Principal amount, r = Monthly interest rate, n = Tenure in months
Key Factors to Consider
- •Interest Rate: Credit card EMI rates typically range from 12% to 42% p.a. depending on the bank and your credit profile.
- •Processing Fee: Most banks charge 1-3% of the purchase amount as a one-time processing fee.
- •Tenure: Longer tenure means lower EMI but higher total interest cost.
- •Prepayment: Some banks allow prepayment without charges, helping you save on interest.
Disclaimer
The calculations provided by this Credit Card EMI Calculator are for informational purposes only and should not be considered as financial advice. Actual EMI amounts may vary based on your bank's specific terms, conditions, and calculation methods. Interest rates, processing fees, and other charges are subject to change. Please verify all details with your credit card issuer before making any financial decisions. We recommend consulting with a financial advisor for personalized guidance.