Credit card EMI calculator
Enter the purchase, the EMI rate, tenure and fee. See your monthly payment and how much more than the price you pay.
- GST included
- No-cost EMI explained
- Free, no sign-up
Big purchase, bigger picture
Our experts help salaried people plan taxes and savings around big expenses.
Questions people often ask
Is no-cost EMI really free?
Not quite. The interest comes back as a discount, but 18% GST on that interest is still billed, plus any processing fee.
Does card EMI affect my credit score?
Paying on time helps. The EMI amount blocks part of your card limit until it's repaid.
What a card EMI costs
Interest, GST and the fee.
- Interest at the EMI rate, on the reducing balance.
- GST of 18% on the interest and on any fee.
- No-cost EMI waives the interest, not the GST.
Last reviewed 9 October 2026. The rules in this calculator come from these official sources.
- GST rates for services (financial services, heading 9971: 18%) Central Board of Indirect Taxes and Customs
Common questions
How is a credit card EMI calculated?
Like any loan: EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r the yearly EMI rate ÷ 12. GST of 18% is added on the interest part of each EMI.
Is GST charged on credit card EMIs?
Yes, 18% on the interest in each EMI and on any processing fee. It's not charged on the principal.
What does a no-cost EMI cost?
The interest is offered as a discount, so you pay the price in instalments. But GST on the interest and the processing fee are still charged.
What does ₹60,000 over 6 months cost?
At 16% with a ₹199 fee, about ₹3,575 more than the price, including GST.
Is card EMI cheaper than revolving credit?
Usually much cheaper. Carrying an unpaid card balance can cost over 40% a year; EMI rates are typically 12% to 24%.
Can I close a card EMI early?
Usually yes, sometimes with a foreclosure fee plus GST. Check your card's terms.
