Discover the true cost of paying only the minimum on your credit card. Calculate interest, see CIBIL impacts, and get tips to manage your debt smarter. Supports HDFC, SBI, ICICI, and more banks in India.
Start Calculating NowTrending on Google: Convert your balance to EMI for fixed monthly payments at lower rates (typically 1-2% monthly). This calculator simulates EMI impact to compare with minimum due payments.
Your new balance including interest:
Interest for this month:
Managing credit card payments wisely is essential for maintaining a strong CIBIL score, which influences your ability to secure loans at favorable rates. Paying only the minimum due might seem convenient, but it can have lasting effects on your credit health. High credit utilization from carrying over balances month-to-month signals potential financial strain to credit bureaus like CIBIL. Over time, this practice can lower your score, making it harder to qualify for premium credit cards or low-interest personal loans. Conversely, paying more than the minimum demonstrates responsible credit management, helping to build a positive payment history—the most significant factor in your CIBIL score calculation (35% weightage). Regularly reviewing your credit report and keeping utilization under 30% are proven strategies to boost your score. Our calculator highlights these impacts to guide you toward better financial habits.
Paying only the minimum due can:
Your CIBIL score is affected by:
To improve your CIBIL score:
Navigating credit card debt requires strategic planning to avoid common pitfalls like escalating interest charges and debt spirals. Our credit card repayment calculator reveals the hidden costs of minimum payments, but proactive tips can help you regain control. Start by prioritizing high-interest debts and consider consolidating balances through balance transfers to cards with promotional 0% interest periods. Budgeting apps trending on Google can track your spending in real-time, ensuring you stay within limits. For those with multiple cards, the debt snowball method—paying off smallest debts first—builds momentum, while the avalanche method targets highest rates for maximum savings. Always negotiate with your bank for lower rates if you have a good payment history. Incorporating these credit card debt management strategies not only reduces interest but also enhances your overall financial wellness and CIBIL score.
Always try to pay more than the minimum due to avoid high interest charges and reduce your debt faster.
Know your card's interest rate and how it's calculated. A 3.5% monthly rate equals 42% annually!
Make payments before the due date to avoid late fees and negative marks on your credit report.
Consider transferring your balance to a card with lower interest rates or a 0% introductory offer.
Cash advances typically have higher interest rates and no grace period. Avoid them whenever possible.
Track your credit card spending to ensure it doesn't exceed 30% of your credit limit for a healthy CIBIL score.
The minimum due is the smallest amount you must pay each month to keep your credit card account in good standing, typically 5% of your outstanding balance, but it varies by bank like SBI, HDFC, or ICICI.
Minimum due is calculated as the higher of 5% of your outstanding balance plus interest, fees, and past dues, or a fixed minimum (e.g., ₹100), depending on your bank’s policy.
Yes, paying only the minimum due can increase your credit utilization above 30% and signal financial stress, potentially lowering your CIBIL score by 50-100 points.
Repaying with only minimum payments can take years or decades due to compounding interest, especially with high rates from banks like HDFC or SBI.
Pay more than the minimum due, use a minimum due calculator like ours for HDFC or ICICI, keep utilization below 30%, consider balance transfers, and avoid cash advances.
Disclaimer: This calculator provides estimates only. Actual interest rates and terms may vary based on your credit card issuer and individual circumstances. The calculations assume that you make no additional purchases and that the minimum payment remains consistent. This tool is for educational purposes only and should not be considered financial advice.
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