Credit Card EMI Calculator
Convert a card purchase to EMI? See the true cost first.
Monthly EMI
₹5,501
Card issuers usually add a one-time processing fee (1–3%) and GST at 18% on interest and fees — the true cost is higher than the EMI alone.
How is a credit card EMI calculated?
Your EMI (Equated Monthly Instalment) is computed with the standard reducing-balance formula: EMI = P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the tenure in months. Early EMIs are interest-heavy; as the balance falls, more of each EMI repays principal — the year-wise schedule below the results shows exactly how that shifts.
How to use this calculator
Drag the sliders — loan amount, interest rate and tenure — and the EMI updates instantly. Try the combinations lenders actually offer: a longer tenure lowers the monthly EMI but increases total interest, while even a 0.5% lower rate can save lakhs over a long tenure. Use the total-interest figure, not just the EMI, to compare offers.
The hidden cost of card EMIs
Converting a purchase into EMIs looks painless, but issuers charge interest (typically 14–24% p.a.), a processing fee, and 18% GST on both. A 'no-cost EMI' usually means the interest is given as an upfront discount — the GST on interest still applies. Always compare the total payment here against paying in full.
Frequently asked questions
Is the EMI shown here final?
It's an accurate estimate using the same formula banks use. Your sanctioned EMI can differ marginally based on the exact disbursal date, lender rounding rules and any processing-fee capitalisation.
Does a longer tenure always mean a cheaper loan?
No — the opposite. A longer tenure reduces the monthly EMI but increases the total interest you pay. Pick the shortest tenure whose EMI fits your monthly budget comfortably.
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