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Credit Card EMI Calculator

Card EMI conversions carry interest, a one-time processing fee and GST on both. Enter the purchase amount, the rate your issuer quoted and the tenure to see what the conversion actually costs.

₹
%

Card EMI rates are commonly quoted between 13% and 18% a year.

₹

Charged once when the purchase is converted to EMI.

%

18% applies to card interest and fees in India.

Monthly EMI

₹5,444

for 1 year

Total interest

₹5,326

Fee + GST

₹1,548

GST at 18%

Total cost

₹66,874

₹6,874 over the purchase price

Cost by tenure

EMI and interest at different card EMI tenures
TenureEMITotal interest
3 months₹20,536₹1,607
6 months₹10,472₹2,831
9 months₹7,119₹4,071
12 months₹5,444₹5,326
18 months₹3,771₹7,886
24 months₹2,938₹10,506

Interest only. The processing fee and GST are charged once and are shown above.

Amortisation schedule

How each instalment splits between interest and principal.

Monthly EMI

₹5,444

1 year

What it is:
An EMI calculator for a credit card purchase conversion.
What it calculates:
The instalment, total interest, processing fee and GST, and the full cost of converting.

Assumptions

  • GST applies to the interest and the fee, at 18% by default.
  • The purchase amount stays blocked against your credit limit.
  • Foreclosure charges are not included.

How it works

The EMI itself uses the standard reducing-balance formula on the purchase amount.

On top of that, issuers charge a one-time processing fee and levy GST on the interest and the fee. Both are added to the total cost, not to the EMI.

Card EMI rates are usually well above personal loan rates. For larger amounts it is worth comparing the two.

Formula

Total cost = (EMI x n) + processing fee + GST on (interest + fee)

EMI
= instalment from the reducing-balance formula
n
= tenure in months
GST
= tax on interest and fees, 18% by default

Example calculation

A ₹60,000 purchase at 16% over 12 months with a ₹499 fee

Monthly EMI
₹5,444
Total interest
₹5,326
Processing fee
₹499
GST at 18%
₹1,049
Total cost
₹66,874
Extra over the purchase price
₹6,874

Frequently asked questions

Is GST charged on card EMI?
Yes. GST applies to the interest component and to the processing fee. It is billed to your card, usually in the first statement after conversion.
Does converting to EMI free up my credit limit?
Not immediately. The purchase amount stays blocked and is released instalment by instalment as you pay.
Is card EMI cheaper than a personal loan?
Usually not for larger amounts. Card EMI rates often run higher than personal loan rates, though for small purchases the convenience and lack of paperwork can outweigh the difference.
What happens if I pay only the minimum due?
The EMI is billed in full each month. Paying only the minimum due leaves the rest revolving at the card's standard interest rate, which is far higher than the EMI rate.

Related calculators

Further reading

Sources

Reviewed by Pradipta Ray, Editor · Last updated