Credsir
Debt Management

Credit Card Payoff Calculator

Calculate how long it will take to pay off your credit card debt and how much interest you'll pay. Create a strategic debt repayment plan and become debt-free faster.

Calculate Your Payoff Timeline
Enter your credit card details to see your debt payoff plan
Fixed Monthly Payment
Pay same amount each month
Target Payoff Date
Set a deadline to be debt-free

Quick Scenarios

Your Debt Payoff Plan
Time to Payoff
12 Months
1 year to debt freedom
Total Interest Paid
₹9,847
Interest cost
Current Balance₹50,000
Monthly Payment₹5,000
Total Amount Paid₹59,847
Payoff DateNovember 2026
Save Money by Paying More

• Pay ₹7,000/month: Payoff in 8 months, save ₹3,200 in interest

• Pay ₹10,000/month: Payoff in 5 months, save ₹5,800 in interest

Minimum Payment Warning

Paying only the minimum (₹1,000/month) will take 8 years and cost ₹46,320 in interest!

Payoff Strategies
  • Pay more than minimum to save on interest
  • Consider balance transfer to lower rate card
  • Stop using the card while paying off debt
  • Use windfalls to make extra payments
Typical Interest Rates
  • • Standard Cards: 36-42% p.a.
  • • Premium Cards: 30-36% p.a.
  • • Retail Cards: 42-48% p.a.
  • • Balance Transfer: 0-18% p.a.
  • • Cash Advance: 42-48% p.a.
Debt Payoff Methods
Avalanche Method:

Pay off highest interest rate debt first

Snowball Method:

Pay off smallest balance first for motivation

Consolidation:

Combine debts into single lower-rate loan

Understanding Credit Card Debt

Credit card debt is one of the most expensive forms of borrowing in India, with interest rates ranging from 36-48% per annum in November 2025. The high interest rates mean that carrying a balance can quickly become financially burdensome.

Paying only the minimum amount due (typically 5% of outstanding balance) can extend your debt for years and result in paying 2-3 times the original amount in interest. Creating a strategic payoff plan is essential for financial health.

Steps to Become Debt-Free
  • 1
    Stop New Charges
    Avoid adding to your existing debt
  • 2
    Create a Budget
    Find extra money for debt payments
  • 3
    Pay More Than Minimum
    Even ₹500 extra makes a big difference
  • 4
    Consider Balance Transfer
    Move to 0% or lower interest rate card