Thinking of converting a big purchase into EMIs? Use this calculator to see your monthly EMI, total interest, processing fee and GST — and the real total you’ll pay. Remember credit card EMI is rarely free: see our guide to converting spends to EMI for the full picture.
Purchase & EMI details
Estimates only. Interest, processing fee, GST and any foreclosure charges vary by bank and card — confirm on your bank’s app before converting. Not financial advice.
How to use this calculator
Enter the purchase amount, the interest rate your bank quotes (commonly around 12–18% p.a.), the tenure in months, and the processing fee. The calculator shows your monthly EMI plus the true total cost including GST. Tick “No-cost EMI” to model an offer where the interest is rebated as a discount — note GST may still apply on the notional interest.
FAQs
Is credit card EMI interest-free?
Only genuine “no-cost EMI” comes close, and even then GST on the interest component may apply. Regular EMI charges interest plus a one-time processing fee and GST.
How is credit card EMI calculated?
Using the standard reducing-balance formula: EMI = P×r×(1+r)^n / ((1+r)^n − 1), where P is the amount, r the monthly interest rate, and n the number of months. Processing fee and GST are added on top.
Does EMI reduce my credit limit?
Yes — the outstanding EMI principal is blocked against your credit limit until it is repaid.
Explore more: EMI conversion guide · income tax calculator · increase your limit · all card reviews.