EMI Summary
Amortization Schedule
Click a year row to expand months. GST is charged on each month’s interest.
Credit card EMI calculator with GST
Convert a credit card purchase into EMI and see the full cost — including interest and GST on interest. This calculator is built for Indian credit card EMI plans where GST (commonly 18%) applies on the finance charge, not on the principal.
Use it before you tap “convert to EMI” in your banking app so you know the real monthly outflow.
How credit card EMI is calculated
The instalment is based on the same reducing-balance EMI formula:
EMI (interest portion basis) = P × r × (1 + r)n ÷ [(1 + r)n − 1]
- P = purchase / principal amount
- r = monthly interest rate = annual rate ÷ 12 ÷ 100
- n = number of EMI months
Each month the schedule typically works like this:
- Interest for the month = outstanding balance × monthly rate
- Principal for the month = EMI − interest (adjusted on the last instalment)
- GST for the month = interest × GST% ÷ 100
- Amount payable that month ≈ principal + interest + GST
So GST rises and falls with the interest component: higher early in the tenure, lower later as the balance drops.
Worked example
Purchase of ₹50,000 on EMI at 15% p.a. for 12 months, GST 18% on interest:
- Monthly rate r = 15 ÷ 12 ÷ 100 = 0.0125
- Base EMI (principal + interest) is calculated with the formula above
- Each month adds GST = 18% of that month’s interest
- Total cost = principal + total interest + total GST — shown in the summary and pie chart
Adjust amount, rate, tenure, and GST above to match your card’s offer.
How to use this calculator
- Enter the purchase amount.
- Enter the interest rate shown in your EMI offer.
- Choose the tenure in months.
- Set the GST rate (usually 18% in India unless stated otherwise).
- Review EMI break-up, total GST, and the amortization schedule.
Credit card EMI tips
- No-cost EMI still may involve GST on interest or merchant funding — read the fine print.
- Processing fees, if any, are often charged upfront and may attract GST separately.
- Missing an EMI can add late fees and affect your credit score.
- Compare card EMI with a personal loan if the rate is high.
FAQs
Is GST charged on the full EMI?
In this model, GST is applied on the interest component only, which matches how many Indian card issuers present EMI GST.
Why does GST change every month?
Because interest is higher when the outstanding principal is higher, GST on that interest is also higher in early months.
Is this the same as revolving credit card interest?
No. This tool models a fixed-tenure EMI conversion, not month-to-month revolving balances or minimum-due interest.
Disclaimer: Estimates for education and planning. Your bank’s exact EMI, GST rounding, and fees may differ.