How is the payoff time calculated?

The calculator simulates monthly payments — each month the outstanding balance accrues interest, then your payment reduces it. It reports months to zero balance and total interest paid.

What happens if I only pay the minimum due?

Paying only the 5% minimum can stretch repayment over 10+ years and 2–3× the original balance in interest. Always pay more than the minimum.

Should I take a personal loan to pay off my credit card?

Often yes — personal loans charge 11–18% vs credit-card 36–42%. The interest saving usually outweighs processing fees.

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Credit Card Payoff Calculator

Plan your way out of credit card debt and see how much interest you'll save.

Reviewed by Nisha SLast verified 6 Sept 2026RBI-compliantFact-check policy

Outstanding Balance₹1,00,000

₹5K₹20L

Annual Interest Rate (APR %)42%

12%48%

Monthly Payment₹10,000

₹500₹5L

Months to Debt-free13 months (1.1 yrs)

Total Interest Paid₹20,531

Total Amount Paid₹1,20,531

Saved vs minimum payment₹54,447

Balance over time

Balance Transfer Credit Cards

Move debt to a 0% intro APR card and save.

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Personal Loan to Consolidate Debt

Lower interest than 42% credit card APR.

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Why credit card debt is so expensive

Indian credit cards charge 36–48% APR — among the highest interest rates of any financial product. Paying only the minimum amount can keep you in debt for 10+ years.

Smart debt-payoff strategies

Avalanche method: Pay off the highest-APR card first
Snowball method: Pay off the smallest balance first for momentum
Balance transfer: Move debt to a 0% intro APR card
Personal loan: Consolidate at 10–14% instead of 42%

Frequently Asked Questions

Everything you need to know about the Credit Card Payoff Calculator.

Results are illustrative estimates for planning. Actual figures depend on bank/AMC terms, taxes and market conditions.