Credit card interest calculations can be really TRICKY for most of the people and COSTLY for some.
You need to keep the following in mind and where required secure clarity from your Credit Card Issuer CCI, as applicable.
- Interest may be charged from the Purchase date, instead of the Statement Generation Date.
- Interest is calculated on the amount outstanding at the end of each day.
- Purchases made after the Statement Generation Date are added to the total outstanding and included in interest calculation.
- Taxes like GST etcetra are not included in calculations shown below. at present, rate of GST applicable on Interest on Unpaid Outstanding balance is 18 per cent per annum.
TIP: Make payments as soon as possible even if the Statement has not been generated yet.
REMEMBER: Interest will be charged even if the Unpaid previous statement balance was Rs.100 only.
Credit Card Interest Calculator
Fill in the highlighted cells with your information to evaluate the interest rate calculations applicable on your credit card account.
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