₹50,000 over 6 months at 15%
The EMI is ₹8,701.69. Interest is ₹2,210.14 and the 1% fee ₹500, and GST at 18% on both adds ₹487.83. The EMI costs ₹3,197.97 more than paying in full.
Credit card EMI calculator with GST
50 thousand
%
Banks usually quote 12% to 24% a year.
%
Monthly EMI
₹8,702
About ₹8,768 with GST on the interest.
- Interest
- ₹2,210
- Fee
- ₹500
- GST
- ₹488
- Total extra cost
- ₹3,198
EMI or revolving credit?
Card EMIs cost far less than leaving a balance unpaid, which can run above 40% a year. Compare a general loan on the loan EMI calculator.
Sources
What this calculator does not account for
- Pre-closure charges if you repay early.
- Late-payment fees and interest on other card dues.
- Discounts on no-cost EMIs, which differ by merchant.
How this is calculated
Formula: Reducing-balance EMI plus GST
EMI =P × i × (1 + i)^n ÷ [(1 + i)^n − 1] ; GST =18% × (interest + fee)What the symbols mean
- PThe amount converted to EMI.
- iThe yearly rate ÷ 12. Banks usually quote 12% to 24% a year for card EMIs.
Good to know
- A no-cost EMI usually gives the interest back as a discount, but GST on that interest and any fee is still paid.
Read the full methodologyFound an error? Contact us
Worked examples
Each example is worked out by the same code as the calculator above.
Embed this calculator
The frame shows the tool only.
<iframe src="/embed/credit-card-emi" title="Credit card EMI" width="100%" height="720" style="border:0;max-width:42rem" loading="lazy"></iframe>Questions
Is GST charged on credit card EMI?
Yes, 18% on the interest in each instalment and on the processing fee.
Is no-cost EMI really free?
The interest is offset by a discount, but you may still pay GST on the interest and a processing fee.
Does an EMI block my card limit?
Yes. The full amount is blocked and freed as you pay each EMI.