Credit Card Interest Calculator for India

Credit cards in India typically charge 30–46% APR. This page explains how Indian credit card interest works and what it really costs you.

How Credit Card Interest Works in India

1. Your APR (30–46% in India) is divided by 12 to get the monthly rate
2. Each month, the monthly rate is applied to your outstanding balance
3. Interest accumulates and is added to your next statement
4. If you don't pay the full statement balance, you lose the grace period (18–20 days in India)

The Real Cost at 30–46% APR

At the mid-range of India's typical APR (38%), a ₹50,000 balance with minimum-only payments could cost you over ₹90,000 in total — nearly double the original amount.

How Extra Payments Save You Money

Even small increases above the minimum payment make a huge difference. Doubling your minimum payment on a 30–46% APR card can cut your payoff time by more than half.

Key Facts for India

• Typical APR range: 30–46%
• Interest calculation: Monthly balance method
• Grace period: 18–20 days
• Minimum payment: Typically 5% of outstanding balance or ₹200–₹500 floor, whichever is higher
• Major issuers: HDFC Bank, SBI Card, ICICI Bank, Axis Bank, Kotak Mahindra