Credit Card EMI Calculator
Converting a large credit card outstanding into an EMI plan is one of the cheapest ways to avoid finance charges of 36-48% per annum. Card issuers typically offer EMI at 12-18% p.a. Use this calculator to see the monthly cost and total interest before you convert.
By FinancePaisa Editorial Team · Research & editorialUpdated
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Compare lenders’ current rates on the loan rates page.
years
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Paid after every 12th EMI, with the EMI kept the same so the loan closes sooner.
What this means
Every ₹1 lakh you borrow costs ₹8,979 a month on these terms.
Your monthly EMI₹8,979
Principal 93%Interest 7%
Principal₹1.00 lakh
Total interest₹7,745
Total you repay₹1,07,745
Could you pay it off faster? Try the prepayment calculatorYear-by-year schedule
| Year | Principal paid | Interest paid | Split | Balance at year end |
|---|---|---|---|---|
| 1 | ₹1,00,000 | ₹7,745 | ₹0 |
- Year 1Balance ₹0Principal ₹1,00,000Interest ₹7,745
Figures use the standard reducing-balance method and are rounded to the nearest rupee. Your lender's schedule may differ slightly because of rounding and the date of your first EMI.
When to convert card outstanding to EMI
Convert whenever your outstanding will take more than one billing cycle to clear. At 14% EMI vs 42% finance charges, converting a ₹1 lakh balance for 12 months saves you roughly ₹20,000-₹25,000 in interest over the year.
Two ways to convert
- Merchant EMI — opted at checkout on select merchants (Amazon, Flipkart, retail stores). Rate is often lower and sometimes 0% for short tenures.
- Post-purchase / statement EMI — opted after the transaction through the card app or by calling the bank. Rate is 12-18% p.a. Processing fee of 1-2% typical.
Things to check before converting
- Confirm the interest rate in writing before conversion
- Ask about the processing fee (1-2% is typical)
- Foreclosure charge on EMI is usually 3% of outstanding
- The blocked EMI amount is deducted from your available credit limit
- Any new spends on the card outside EMI still attract full finance charges
Frequently asked questions
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