Purchase amount.
Rate shown by your card issuer.
Number of monthly EMIs.
One-time fee charged by the issuer.
Quick examples
₹50,000 over 12 months at 15%, plus 18% GST on interest (averaged).
What each result means
EMI before GST
What it is: Reducing-balance EMI on the amount.
Your value: ₹4,512.92
Principal + interest.
Total interest
What it is: EMI × months − amount.
Your value: ₹4,155
Cost of converting to EMI.
GST on interest and fee (18%)
What it is: GST at 18% on the interest and processing fee.
Your value: ₹784
Charged on top.
Total cost over the tenure
What it is: Interest + fee + GST.
Your value: ₹5,138
Extra you pay versus paying in full.
Year-by-year breakdown
| Month | EMI (₹) | Principal (₹) | Interest (₹) | Balance (₹) |
|---|---|---|---|---|
| 1 | ₹4,512.92 | ₹3,887.92 | ₹625.00 | ₹46,112.08 |
| 2 | ₹4,512.92 | ₹3,936.51 | ₹576.40 | ₹42,175.57 |
| 3 | ₹4,512.92 | ₹3,985.72 | ₹527.19 | ₹38,189.85 |
How to read this: each row is one monthly EMI. GST at 18% is charged on each month's interest on top of the EMI shown.
Showing the first 3 of 12 years. Want charts, formulas and the full schedule? Get the detailed PDF.
What this calculator does
This calculator applies the reducing-balance EMI formula to a credit card purchase converted to EMI, and adds the 18% GST charged on interest and the processing fee.
What your result means
The total cost is what the numbers show at your issuer's rate and fee. 'No-cost' EMI offers usually pass the interest as a discount instead; check the issuer's terms.
Formula
1. EMI
Symbols
- i
- Monthly rate
- n
- Months
2. GST
Symbols
- 18%
- GST rate on financial services
Working for your numbers
- EMI = ₹50,000 × 0.012500 × ... = ₹4,512.92
- Interest = ₹4,512.92 × 12 − ₹50,000 = ₹4,155
- GST = 18% × (₹4,155 + ₹199) = ₹784
Frequently asked questions
Why is GST added?
Interest and fees on credit card EMIs are a financial service, taxed under GST at 18%.
When should I talk to a professional instead?
Before a real decision, especially a large or long-term one, speak to a SEBI-registered investment adviser or a qualified professional. This page is educational only.
Symbols and assumptions
- P
- Amount
- r
- Annual rate
- n
- Months
- Rate fixed for the tenure.
- GST at 18% on interest and fee.
- No foreclosure or late charges.
Sources and review
Reviewed 2026-09-29 · Next review 2027-09-29
- Reserve Bank of India — Master Directions & Fair Practices Code for Lenders
- CBIC — GST rates on services
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How it works
Calculates the cost of converting a large transaction into monthly installments.
The formula
Standard EMI Formula + Processing Fees- Fee
- One-time Processing Fee
Worked example
Converting ₹50,000 purchase into 12 month EMI at 16%.
Pro tips
- Check for No-Cost EMI options.
- Processing fees can add to the effective cost.
Common mistakes
- Ignoring the interest cost compared to bank personal loans.
Go deeper
Related lessons
Concepts to explore
Related guides
Institutional grade calculations are illustrative and for educational wealth architecture. Results do not constitute investment advice.