Credit Card EMI Calculator
Convert any credit card purchase to monthly EMI. Calculate total cost including interest (12–18% p.a.) and processing fee (1–3% + GST). Compare the true cost before converting a purchase to EMI.
Credit Card EMI Rates by Bank (2026)
| Bank | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|
| HDFC Bank | 13% – 16% | 2% + GST | 3 – 36 months |
| SBI Card | 14% – 18% | 2.5% + GST | 3 – 24 months |
| ICICI Bank | 13% – 16% | 2% + GST | 3 – 36 months |
| Axis Bank | 13.5% – 16.5% | 2% + GST | 3 – 24 months |
| Kotak Mahindra | 14% – 18% | 2.5% + GST | 3 – 24 months |
| Amex | 14% – 18% | 2% + GST | 3 – 24 months |
No-Cost EMI vs Regular EMI
No-cost EMI means the merchant (e.g. Amazon, Flipkart, Croma) absorbs the interest cost as a discount. You see the product price, you pay it in installments, you're not charged interest separately. Most no-cost EMI deals are genuinely no-cost — but always verify by comparing against the cash price (the product shouldn't be inflated) and checking the processing-fee line.
Regular EMI shows interest as a separate line item each month. This is straightforward but you bear the full cost. Use this calculator to see the all-in cost including processing fee and GST on interest.
True Cost Formula
Total Cost = Principal + Interest + Processing Fee + GST on Fee + GST on Interest
For a ₹50,000 purchase at 14% for 12 months with 2% processing fee: Interest = ₹3,867 + 18% GST = ₹4,563. Processing = ₹1,000 + 18% GST = ₹1,180. Total = ₹55,743.
Credit Card EMI vs Alternatives
- Personal loan: 11–15% typically; cheaper for ₹50K+ purchases (calculator)
- Gold loan: 9–15%; cheapest option if you have gold (calculator)
- BNPL apps (LazyPay, Simpl): Similar 12–18% rates with less transparent fee structures
- Pay in full: Zero cost if you have cash; best option for essentials
When Credit Card EMI Makes Sense
- No-cost EMI deals on expensive electronics (genuinely zero cost if verified)
- Small amounts (₹10K–₹50K) where personal loan processing is overkill
- Card offers with cashback/reward multipliers on EMI
- Time-sensitive purchases where loan processing can't wait
When to Avoid Credit Card EMI
- Large amounts (₹1L+) — always cheaper via personal or gold loan
- Discretionary purchases where you couldn't afford them outright — danger sign
- Multiple existing EMIs — credit utilization rises, CIBIL falls
- Bank-merchant combos where 'no-cost' hides inflated listing price
Frequently Asked Questions
What is the interest rate on credit card EMI?
Typically 12–18% per annum. HDFC, ICICI around 13–16%. SBI and Kotak around 14–18%.
Is no-cost EMI really free?
Usually yes, but verify the listing price isn't inflated and no processing fee is charged. Always compare against a fresh cash-price search for the same product.
Can I foreclose credit card EMI?
Yes. Foreclosure fee is typically 3% of outstanding principal plus GST. Some issuers waive if converted to longer tenure.
Credit card EMI vs personal loan?
For amounts above ₹50K, personal loan (11–15%) is usually cheaper. For small/quick purchases, credit card EMI wins on convenience.
Does credit card EMI affect my CIBIL score?
Yes, it increases credit utilization. If total outstanding exceeds 30% of credit limit, CIBIL score typically drops 20–50 points until cleared.