Credit Card EMI Calculator
Convert a credit card purchase into EMIs and see the real cost including processing fee and GST.
About the Credit Card EMI Calculator
Enter the purchase amount, the card's EMI interest rate, the tenure and the processing fee. The calculator gives the monthly EMI and the true total including GST on interest and fees.
Card EMIs charge interest on the reducing balance, plus a one-time processing fee. GST at 18% applies to both the interest and the fee, so the true cost is higher than the quoted rate. 'No-cost EMI' offers usually pass the interest on as a discount, but you still pay GST on it.
The formula
EMI = P × r ÷ (1 − (1 + r)⁻ⁿ); GST = 18% × (interest + fee)
Worked example
₹60,000 at 15% over 12 months with a 1% fee
- EMI: ₹5,415.50
- Interest ₹4,986 + fee ₹600 + 18% GST on both (₹1,005)
- Total ₹66,591, 11% more than the price
Questions people ask
Does EMI affect my credit limit?
Yes, the full purchase blocks your limit and frees up as you repay.
Can I prepay?
Usually, with a foreclosure fee plus GST.