Credit Card Payoff Calculator: How Fast Can I Clear My Card Debt?
Add your cards with their balance, interest rate and minimum payment. Enter what you can pay each month to see when you will be debt-free, or a target date to see the payment you need. Both payoff orders are compared.
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Calculator and results
Paying ₹8,000 a month clears ₹85,000 in 1 year 2 months with the highest rate first (₹26,852 in interest and GST), ₹1,491 less than smallest balance first.
Example values; enter your card's figures from your statement or the bank's schedule of charges.
Debt-free in
1 year 2 months
Highest rate first
₹26,852
interest + GST (avalanche)
Smallest balance first
₹28,343
interest + GST, 1 year 3 months (snowball)
Avalanche saves
₹1,491
against snowball
When each card is cleared
- Card 1 (42%)month 12 / 15
- Card 2 (36%)month 14 / 7
Highest rate first / smallest balance first.
Would an EMI or a personal loan be cheaper?
Card interest is usually far higher than a personal loan or a card EMI plan. Compare the cost with the credit card EMI calculator, the personal loan EMI calculator or the debt payoff calculator, including any processing fee.
Saved scenarios stay in this browser only. No sign-up.
Debt-free in
1 year 2 months
- What it is:
- A plan for clearing one or more credit cards, comparing the avalanche and snowball methods.
- What it calculates:
- Months to be debt-free or the monthly payment needed, total interest and GST, and when each card clears.
Key Assumptions
- Default inputs are examples, not any bank's figures; enter your card's figures from your statement or the bank's schedule of charges.
- GST is charged at 18% on interest and fees, as stated in banks' card terms, and is never added to the balance that earns interest (Unpaid charges, levies and taxes are not capitalised for charging or compounding interest.)
- No new spends on the cards while paying them off.
- Rates and minimum payments stay as entered.
How does the Credit Card Payoff Calculator work?
Each month every card is charged interest at its annual rate ÷ 12, plus GST on that interest. You pay every card's minimum, and the rest of your budget goes to one card: the highest interest rate first (avalanche) or the smallest balance first (snowball). When a card is cleared, its payment moves to the next.
Avalanche always costs the least interest. Snowball closes small cards sooner. The calculator shows both so you can choose.
For a target date, it finds the smallest monthly payment that clears all the cards in time, highest rate first.
Credit Card Payoff Calculator formula
Each month: balance = balance × (1 + R/1200) − payment; GST = interest × 18%, paid with the bill
- R
- = the card's annual interest rate, percent
Credit Card Payoff Calculator: worked example
Two cards (₹60,000 at 42%, ₹25,000 at 36%), ₹8,000 a month (example figures)
- Highest rate first
- 1 year 2 months, ₹26,852 interest + GST
- Smallest balance first
- 1 year 3 months, ₹28,343 interest + GST
Credit Card Payoff Calculator: frequently asked questions
Credit card payoff: is the avalanche or the snowball method better?
Should I convert card debt to an EMI or a personal loan?
Further reading
How Indian lenders work out your monthly instalment, why the interest portion shrinks every month, and what actually changes the number.
Why a flat 10% and a reducing-balance 10% are not the same loan, how much more the flat structure costs, and where you meet it in India.
Authoritative Sources
- RBI Master Direction – Credit Card and Debit Card – Issuance and Conduct Directions, 2022 (RBI/2022-23/92, DoR.AUT.REC.No.27/24.01.041/2022-23, 21 April 2022, updated as on 7 March 2024)· verified 21 October 2026
- GST on card interest and charges: HDFC Bank credit card MITC (4 March 2026): "GST@ 18% of interest and late payment"· verified 21 October 2026
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Reviewed by Pradipta Ray, MBA (Finance) · Updated