Credit Card Interest Calculator
Estimate the interest cost of carrying a credit card balance.
Assumptions used in this calculation
- Daily simple interest: Interest is computed as simple daily interest (Balance × APR ÷ 365 × Days), not compounded, some issuers compound daily on the running balance, which produces a slightly higher real-world cost.
- No grace period: Assumes the balance is carried for the full period without being paid down, most cards charge no interest if you pay the statement balance in full by the due date.
About this calculator
Credit card statements quote an annual percentage rate, but interest actually accrues daily on the outstanding balance, which means the true cost of carrying a balance for even a short period, say 30 or 60 days, is easy to underestimate if you only think in terms of the yearly rate. This calculator converts the annual rate to a daily rate (APR ÷ 365), applies it to your outstanding balance, and multiplies by the number of days you specify to project the exact interest cost: Projected interest = Balance × (APR ÷ 365) × Days. That's useful for seeing precisely what it costs to delay paying off a balance by even a few weeks, or for comparing the real cost across cards with different APRs, rather than relying on a rough annual-rate estimate that doesn't reflect how interest actually compounds daily on revolving credit.
Worked example
₹50,000 at 36% APR for 30 days
Result: ₹1,479 interest
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