Credit Card EMI Calculator

Credit card EMI lets you split a large purchase — or an outstanding balance — into fixed monthly installments at a specified interest rate, usually 12–24% per year. Banks also charge a one-time processing fee (1–3%) and GST on interest, which together push the effective cost well above the headline rate.

EMI is a standard amortizing loan, with fees on top:

EMI = P × r × (1 + r)^n / ((1 + r)^n − 1)
  P = amount, r = monthly rate, n = months

Processing fee = amount × fee%
Total payable = EMI × n + processing fee
Effective rate ≈ (interest + fee) / amount / years × 100

Enter the amount you want to convert to EMI, the bank's interest rate, tenure in months, and the processing fee percentage. The calculator shows the EMI, total interest, fees and the true effective rate.