Credit Card EMI Calculator | EMI & Interest Calculator with GST
†APR calculation excludes GST.
Payment Breakdown
Click a year row to expand and see month wise breakup. Figures are approximate.
| Year | Principal Paid | Interest Paid | Total Payment | Balance at Year End | Loan Paid to Date |
|---|
Last month, I was in urgent need of a bike, so I went to my nearest bike dealer. But what I found there was that all of the bikes are out of my range, even the one I wanted so badly. I was just about to go out when one of the salesmen said, “Sir, do you have your credit card? Why not get your bike now, using credit card EMI?” And then I remember I recently got my credit card from my bank, and yes, I got my bike, the one which I wanted, without paying any money at that moment.
That’s how, in today’s world, credit cards offer great convenience to their customers, but still, if you don’t use them wisely, it can get you in trouble. That’s why we have a Credit Card EMI Calculator for you, which is an online tool that helps you calculate and manage your credit card EMIs and keep your budget in check. In this article, I will cover how you can use our Credit Card EMI Calculator for better financial planning.
What is a Credit Card EMI?
I will describe it in simple words. Let’s say you are a regular bank customer with a good transaction history, then your bank will offer you a credit card for your purchases. It is a digital currency tool or card that has some limits on credit. When you purchase something using your credit card, it will deduct some limit from your card, whether you have money in your bank or not at that time, then your bank or merchant will offer you the time to repay your credit card bills or your EMI for credit card.
In this way, you will repay your purchase amount in EMIs, not in one go. You will get 3, 6, 12, 24, or 36 months’ tenures and sometimes even with zero interest rate on your purchases, although processing fees and GST may apply.
For larger purchases, you might also consider calculating your home loan EMI Calculator, especially if you’re planning to buy property.
Why Use a Credit Card EMI Calculator?
It is an online tool that comes in handy when you don’t want to get yourself stuck in a situation like poor financial management. Instead of relying on wild guesses, you should use these tools to make an informed decision, as you will get accurate details on:
- Monthly EMI amount
- Total interest payable (if any)
- Processing fee and GST
- Total amount you’ll repay
This will help you make better decisions by comparing purchases with different vendors or at different rate of interest at different tenures. In case you’re comparing it with home loans, also check our SBI home loan calculator for a clearer comparison of how EMIs stack up against other financial products.
Key Variants of Credit Card EMI Calculators
- Credit Card EMI Interest Calculator – Shows the actual interest component when the EMI is not interest-free.
- Credit Card EMI GST Calculator – Specifically calculates the GST (usually 18%) on processing fees or interest.
- Credit Card EMI Calculator with GST – Combines everything: principal, interest (if applicable), processing fee, and GST in one go.
How Does a Credit Card EMI Calculator with GST Work?
It is simple and easy to use it. You just need to do as follows:
- Visit Card EMI Calculator.
- Enter the loan amount or the amount of your purchase.
- Enter the rate of interest and the tenure offered by the lender (remember that the longer the tenure, the higher the total payable interest).
- Enter the amount of Processing fees with GST. Sometimes banks may offer purchases with 0% interest, but processing fees and GST will cover the expenses.
- Enter the prepayment amount if you will make any, and enter its duration that could be yearly (12 months), Half (6 months), Quarterly (3 months), or as you prefer.
The Credit Card EMI calculator will calculate the exact EMI amount, total interest payable, processing fees with GST and the GST on interest for you. If you are also considering a personal loan or business loan, our EMI calculation calculator can help you compare financing options.
Features of Credit Card EMI Calculator
- Credit Card EMI Interest Calculator: The tool shows the total interest payable on the EMI when the purchase is not interest-free.
- Credit Card EMI GST Calculator: This calculator also specifically calculates the Processing Fee GST and GST on interest.
Example Calculation (with GST and Processing Fee)
Let’s say you buy a Bike worth ₹160,000 on EMI:
| Parameter | Value |
| Transaction Amount | ₹150,000 |
| Tenure | 2 Years |
| Interest Rate | 12% p.a. |
| Processing Fee | 2% + GST |
| GST Rate | 18% |
Using a credit card EMI interest calculator + credit card EMI GST calculator, the result would be approximately:
| Description | Amount |
| Processing Fee (2%) | ₹3,000 |
| Total Processing Fee + GST | ₹3,540 |
| Principal Amount | ₹150,000 |
| Total Interest | ₹19,465 |
| GST on Interest | ₹3,504 |
| Total Amount Payable | ₹1,76,508 |
| Monthly EMI | ₹7,061 |
You will also find the Amortization Schedule for your EMIs below the calculator
Benefits of Using an Online Credit Card EMI Calculator
- Fast and accurate results in a few seconds.
- You can compare different tenures and interest rates from different banks on your purchases.
- You can avoid interest by paying processing fees and GST.
- Make a good choice by determining whether an EMI is cheaper than a personal loan.
- Prepare a good monthly budget plan.
Friendly Asked Questions
Is it true that credit card EMI doesn’t have any interest?
A majority of the No Cost EMI offers are not free. The merchant usually pays up-front interest in the form of a discount, although you still might be required to pay processing fees and GST.
How do you figure out GST on credit card EMI?
GST (18%) is not applied to the amount on which it is being paid, but only on the processing fee and interest paid before that time. To get the precise figures, a credit card EMI GST calculator will do.
Is it possible to pay my EMI on my credit card early?
Yes, the majority of banks allow you to repay your loan before its term matures, but they may impose a foreclosure fee on the outstanding loan in 3% plus GST.
Is a credit card EMI better than a personal loan?
EMI through a credit card is generally cheaper and quicker over the short term (3-12 months). Long-term personal loans tend to be less expensive.
Why is the amount of my EMI different from what the shop said?
The stores can conceal the processing fees or lower the prices. Alternatively, they use GST and processing fees.
Conclusion
The credit card EMI calculator is not just a tool when you are making a purchase of a substantial amount; it becomes your financial lifeline. The knowledge of what the entire cost (including interest, processing fees and GST) will cost you will ensure that you remain in control of your finances and prevent yourself into unnecessary debt traps. In case of a no-cost EMI banner, you can spend 30 seconds to enter a reputable card EMI calculator. It will end up saving you a great deal of money. Be smart with your money!