What happens if I pay only the minimum due on my credit card?

Paying only the minimum due means you'll carry a balance forward and be charged interest on the remaining amount. This can lead to significant interest charges over time and may negatively impact your CIBIL score.

How is credit card interest calculated?

Credit card interest is typically calculated monthly on the unpaid balance. Banks charge between 3-4% per month (36-48% annually) on the outstanding amount after your payment.

Does paying minimum due affect my CIBIL score?

Yes, consistently paying only the minimum due can negatively affect your CIBIL score by increasing your credit utilization ratio and signaling financial stress to lenders.

Disclaimer - Minimum Due CalculatorMinimum Due Calculator

Disclaimer: This calculator provides estimates only. Actual interest rates and terms may vary based on your credit card issuer and individual circumstances.