Credit Card EMI Calculator
Credit Card EMI Calculator
EMI Calculator — Loan on Credit Card · Works for All Banks · Monthly Repayment Schedule with GST
Your Loan Repayment Schedule
Month-wise split of principal, interest and GST. GST is charged at 18% on the interest amount of the EMI on a monthly basis.
* For the First EMI, interest is calculated from the loan booking date till the date of payment scheduled for the First EMI, based on a typical credit card statement cycle (payment due ~20 days after the statement date). Your bank's exact cycle and day-count convention may vary slightly.
* GST is charged at 18% on the interest amount of the EMI on a monthly basis, as per Indian GST law — this applies to all card issuers. All amounts in ₹ (Indian Rupees).
* Processing fees vary by card issuer and offer, and are not included in the EMI shown above.
Credit Card Loan Interest Rates — Quick Reference
Indicative interest rate ranges for loans against credit cards in India. Exact rates depend on your bank, card variant, and pre-approved offer.
| Product | Typical Interest Rate | What It Is |
|---|---|---|
| Loan on credit card (pre-approved) | 11% – 16% p.a. | Instant loan against your credit limit, disbursed to your bank account. No documentation. |
| Purchase converted to EMI | 14% – 21% p.a. | A large purchase on your card split into monthly EMIs (often called SmartEMI, Flexipay, Instant EMI, etc.). |
| Balance transfer on EMI | 11% – 15% p.a. | Outstanding balance of another bank's card transferred and repaid in EMIs. |
| Revolving credit (unpaid card dues) | 36% – 48% p.a. | Interest charged if you pay only the minimum due — 2–3× costlier than converting to EMI. |
Tip: If you can't clear your card bill in full, converting the outstanding to EMI almost always costs far less than revolving it.
How to Use This Credit Card EMI Calculator
This calculator works for loans on credit cards from any Indian bank — HDFC, SBI Card, ICICI, Axis, Kotak, and others. It shows your exact monthly EMI plus the two things most calculators miss: 18% GST on the interest portion of every EMI, and the first-EMI interest that depends on your statement cycle.
- Enter the loan amount — the amount you're borrowing against your credit card limit.
- Choose how you know the rate — banks quote credit card loan rates either per annum (e.g. 15%) or per month (e.g. 1.25%). Use the toggle to match what your bank told you.
- Enter the interest rate and pick your repayment tenure (3 to 72 months).
- Set the loan booking date and statement date — this determines the extra interest on your first EMI.
- Click Calculate — you get the monthly EMI, total interest, total GST, and a month-wise repayment schedule you can print or copy.
Example — ₹1,00,000 loan at 15% p.a. for 12 months
| Loan amount | ₹1,00,000 |
| Interest rate | 15% p.a. (1.25% p.m.) |
| Monthly EMI | ₹9,026 |
| Total interest (12 months) | ₹8,310 |
| GST @ 18% on interest | ₹1,496 |
| Total repayment (EMI + GST) | ≈ ₹1,09,806 |
Figures assume a standard monthly cycle; your first EMI varies slightly with your booking and statement dates.
Why is the first EMI different?
Your loan doesn't start on a neat monthly boundary. Interest for the first EMI is charged from the loan booking date until the payment date of your first EMI, which follows your credit card statement cycle (payment is typically due about 20 days after the statement date). Book a loan just after your statement is generated and you'll pay more broken-period interest; book just before it and you'll pay less. The calculator handles this automatically from the two dates you enter.
Why is GST added on top of the EMI?
Under Indian GST law, the interest component of a credit card EMI attracts 18% GST, billed every month along with the EMI. The principal component carries no GST. That's why your card statement always shows a slightly higher debit than the quoted EMI — this calculator shows you that exact EMI + GST figure for every month.
Running a business? Don't stop at EMIs.
Calculate GST on your invoices in seconds with our free GST calculator — CGST/SGST & IGST, all slabs.
Frequently Asked Questions About Credit Card EMIs
Credit card EMIs use 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, and n is the tenure in months. Interest is charged only on the outstanding balance, so the interest portion of your EMI falls every month while the principal portion rises. For example, ₹1,00,000 at 15% p.a. for 12 months gives an EMI of about ₹9,026.
GST at 18% applies to the interest component of every credit card EMI (and to the processing fee), as credit card services are taxable under Indian GST law. It does not apply to the principal. So if a month's EMI includes ₹1,000 of interest, ₹180 GST is added to that month's bill. This applies to all card issuers — HDFC, SBI Card, ICICI, Axis, and others.
The first EMI includes broken-period interest — interest from the day your loan is booked until the payment date of your first EMI, which follows your statement cycle. Depending on where your booking date falls in the cycle, this can cover anywhere from ~20 to ~50 days, making the first instalment differ from the regular EMI. Enter your booking and statement dates in the calculator above to see your exact first-EMI amount.
Pre-approved loans on credit cards typically range from 11% to 16% per annum, while converting purchases to EMI usually costs 14–21% p.a. depending on the bank, tenure, and offer. This is far cheaper than revolving credit — carrying unpaid card dues costs 36–48% p.a. Rates are often quoted per month (e.g. 1.1% p.m. = 13.2% p.a.); use the per-month toggle in the calculator if that's how your bank quoted it.
Most loans on credit cards are carved out of your existing credit limit, so your available limit drops by the loan amount and is restored as you repay. Some banks offer loans over and above the limit for select customers. The loan itself doesn't hurt your CIBIL score — but it raises your credit utilisation, and any missed EMI is reported like a missed card payment, so timely repayment matters.
Yes. All banks allow foreclosure of credit card loans, usually with a foreclosure charge of around 3% of the outstanding principal (plus 18% GST on that charge). Some banks waive it after a minimum number of EMIs. If you foreclose early in the tenure, the interest saved usually far outweighs the charge — compare your remaining interest in the schedule above against the foreclosure cost before deciding.
No. Banks charge a one-time processing fee — typically ₹199–₹999 flat or about 1% of the loan amount, plus 18% GST — billed separately in your first statement, not built into the EMI. This calculator shows the pure EMI + GST outflow; add your bank's processing fee to get the total cost of the loan.
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