Credit Card Payoff Calculator
See how long it'll take to clear a balance, and the total interest you'll pay.
Payoff timeline
Hover, tap, or use the arrow keys on the chart to inspect values for each period.
Time to pay off
2 yr 7 mo
Total interest paid
₹54,995
Total amount paid
₹1,54,995
How this is calculated
Each month, interest accrues on the remaining balance at the monthly rate (APR ÷ 12), and the rest of your payment reduces the principal, the same way card issuers calculate it. Making only the minimum payment shown on a statement is usually far below what this calculator assumes; a fixed, higher payment is what actually clears a balance in a reasonable time.
How to use this calculator
- Enter your card balance.
- Enter the annual interest rate and monthly payment.
- Review the estimated payoff time, interest, and balance chart.
- Increase the payment to compare how much time and interest you could save.
What your result means
The calculator estimates how many months are needed to clear the balance and how much interest may be paid if no new spending is added.
How it is calculated
Each month, interest is added to the outstanding balance and the chosen payment is subtracted. The calculation stops when the balance reaches zero or identifies when the payment is too low.
Example
Compare the payoff time for a ₹50,000 balance at 36% annual interest with a ₹3,000 payment versus a ₹5,000 payment.
Assumptions and limitations
- No new purchases or cash advances are added.
- The interest rate remains constant.
- Late fees, annual fees, taxes, and lender-specific daily-interest rules are not included.
Frequently asked questions
Why can a low payment fail to clear the balance?
If the payment is close to or below the monthly interest, the balance may grow instead of falling.
Does paying more save interest?
Yes. A higher payment generally reduces both the payoff period and total interest.