Credit Card EMI Calculator

Calculate Credit Card EMI Interest Online with Credit Card EMI Calculator. Get a quick estimate of your monthly EMI payments
Monthly EMI
Principal Amount
Total Interest
Total Amount

What is a Credit Card EMI Calculator?

A Credit Card EMI Calculator is a user-friendly online financial tool designed to help you determine your monthly installment amounts and interest charges on credit card transactions. This handy tool is available around the clock, accessible from any location, and completely free. With its algorithmic precision, it simplifies the process into three easy steps, requiring no technical expertise.

Benefits of Using a Credit Card EMI Calculator

Instant Results: Get quick access to crucial information, including your monthly EMI and accrued interest on the loan, allowing you to plan your finances effectively.

Easy Accessibility: Access it anytime, anywhere, empowering you to make informed decisions about your credit card usage with ease.

Eliminates Manual Calculations: By automating EMI and interest calculations, this tool removes potential inaccuracies associated with manual computations.

Enhances Decision-Making: Swiftly assess your spending capacity, enabling you to make well-informed choices regarding your credit card usage.

How to use IND Money's Credit Card EMI Calculator?

Using our Credit card EMI Calculator is simple:

  • Enter the Credit Card loan amount.
  • Input the Credit card interest rate. Interest Rates for major Banks is listed below in this page.
  • Specify the loan tenure.
  • Click "Calculate."

Following these steps empowers borrowers to make accurate financial projections, helping them plan their expenses effectively.

Formula to determine Credit Card EMI amount

EMIs are calculated using the following formula:

EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]

where –

  • P is the principal amount
  • R is the rate of interest
  • N is the loan tenure

This is the standardized formula used by any online loan calculator. Some variables may be added based on the type of loan. INDMoney's Education Loan EMI Calculator does this calculation for you in a jiffy and lets you know the exact EMIs saving you from this tedious calculation.

How does EMI on Credit Card work?

EMI on a credit card is a straightforward process. If you're buying a product valued over Rs.50,000, like electronics, furniture, or a vehicle, you have the option to convert it into an EMI.

The EMI is determined by the bank's interest rate, your chosen tenure, and the down payment you provide.

For instance, let's say you buy a phone worth Rs.30,000 and make a down payment of Rs.10,000. The remaining Rs.20,000 can be paid in EMIs over a year at an interest rate of 12%. This would result in a monthly EMI of Rs.1,777 for 12 months.

What are the benefits of converting credit card purchases into EMIs?

Benefits of Opting for EMI Conversion on Credit Card Purchases:

Interest Rate Flexibility: Different banks offer varying interest rates on EMIs. Shorter tenures typically have lower rates, while longer tenures may have slightly higher rates.

Reduced Interest Charges: Most banks use the reducing balance method for interest calculation, resulting in lower monthly interest payments over time.

Flexible Tenure Choices: Choose a tenure ranging from 6 months to 2 years (some banks offer 3-month tenures) to optimize interest savings.

Potential Processing Fee Waiver: Some banks may waive the processing fee for EMI conversion, particularly during promotional periods like festivals.

Foreclosure and Cancellation Options: If you have the means to repay the loan early, banks allow foreclosure or cancellation, possibly with a foreclosure fee waiver for long-time customers.

By taking advantage of these benefits, converting credit card purchases into EMIs offers financial flexibility and potential savings.

Credit Card EMI Interest Rates 

Bank/ Credit Card ProviderInterest Rate
HDFC Bank18% p.a.* | 15% p.a. onwards**
SBI Card22% p.a.* | 14% p.a. onwards**
Citibank24% p.a.* | 13% p.a. onwards**
Axis Bank18% p.a. | 13% p.a. onwards**
Bank of Baroda18% p.a. | 13% p.a. onwards**
RBL Bank13% p.a. onwards**
ICICI15.96% p.a.* | 12.99% p.a. onwards**
Standard Chartered BankStarts from 12.96% p.a.* | 13% p.a. onwards**

* Post Purchase EMI Interest Rate

** Merchant Interest Rate

Frequently Asked Questions

  • How is Credit Card EMI Calculated?

    Credit Card EMI is calculated using a Formula: 

    EMI = [P x R x (1+R) ^N]/ [(1+R) ^ (N-1)]


    P = Credit Card Loan Amount

    R = Credit Card Interest Rate ; This Rate can be different for different banks.

    N = Loan Tenure

  • Which Credit Card is Best for EMI?

    The best credit card for EMI depends on your specific financial situation and spending habits. It's recommended to look for cards with low or zero processing fees, competitive interest rates, and flexible repayment tenures. Additionally, consider cards that offer EMI conversion options for a wide range of purchases and provide benefits like cashback or rewards. It's advisable to compare offerings from different banks and financial institutions to find the one that aligns best with your needs.

  • How much loan can I avail on my credit card via EMI?

    The maximum loan amount you can avail via EMI on your credit card depends on various factors, including your credit limit, the terms and conditions set by your credit card issuer, and the specific EMI plan you choose.

    You can check your credit score on INDMoney in few seconds here

  • Is Credit Card EMI Calculator free to use?

    Yes, INDMoney's Credit Card EMI Calculator is completely free to use for everyone who wants to estimate their EMI on Credit Card Loans.