Credit Card EMI Calculator
Find out the true cost when you convert a big credit card purchase into EMI.
About the Credit Card EMI Calculator
Credit card EMI conversions look attractive at the checkout — "Pay just ₹4,500 a month for 12 months" — but the effective cost can be brutal once processing fees, GST and the actual interest are factored in. The AlarmDaddy Credit Card EMI Calculator shows you the real picture: the monthly instalment, total interest, processing fee, and the effective annualised rate compared to the merchant offer.
Most Indian credit card EMI conversions charge 12% to 18% interest plus a 1% to 2% processing fee. Convert that to an effective rate including the upfront fee and you are often paying 18% to 24% — close to a personal loan.
How to use this calculator
- 1Enter the purchase amount you want to convert to EMI.
- 2Enter the interest rate the bank quoted (commonly 13% to 18%).
- 3Enter the tenure in months (3 / 6 / 9 / 12 / 18 / 24 are common).
- 4Enter the processing fee percentage.
- 5Read the EMI, total cost and the effective annualised rate.
The formula
Standard EMI maths plus the processing fee charged upfront. Because the processing fee is taken on day 1 but you still owe the full principal, the effective interest rate is always higher than the headline rate.