What a credit card balance costs you each day
Card interest is charged on every day the balance sits there, and GST is added on top. Paying only the minimum keeps it going for years.
Your numbers
Common answers are filled in. Change the ones you know.
Typical: ₹60,000. Put in yours.
It's on your card statement. Many Indian cards charge 3.5% to 3.75% a month.
It only changes the order on your statement.
What waiting costs you
₹87 a day
Your card balance costs about ₹87 a day
Paying only the minimum, it takes 32 years and 4 months to clear and costs ₹3.2 lakh in interest and GST. That's if you don't spend anything more on it.
Your small stepOpen your card app and write down today's exact balance and the due date. That's the start of the plan you already made.
How we worked this out
- Monthly rate: 3.75% plus 18% GST on the interest = 4.42% a month.
- Per day: ₹60,000 × 4.42% ÷ 30.44 days = ₹87.
- Minimum due: 5% of the balance, and at least ₹200.
- In the 6 months it has waited, interest and GST came to about ₹15,616.
- How much it matters to you: 7 out of 10. It only changes the order on your statement.
Fixed figures
- GST on card interest: 18%
- Smallest minimum due: ₹200
Sources
- ICICI Bank (2026): Many Indian credit cards charge about 3.75% a month on unpaid balances, which is 45% a year.
- Indian Bank card terms (MITC) (2025): Card terms add 18% GST on top of interest, and set the minimum due as a small share of what you owe.
How it works
Many Indian cards charge about 3.75% a month on what you owe. GST of 18% is added to that interest, so the real rate is about 4.4% a month.
The minimum due is a small share of the balance. When you pay only that, most of it goes to interest, so the balance shrinks very slowly.
We assume you don't spend anything more on the card, so the real number is often higher.
Sources
- ICICI Bank (2026): Your own card's rate is on your statement. Some cards charge less.
- Indian Bank card terms (MITC) (2025): Minimum due rules differ by bank. We use 5% with a ₹200 floor, and you can change it.
Questions people ask
Where do I find my card's rate?
It's on your monthly statement, usually as a rate a month, and in the card's "Most important terms and conditions".
Why does the minimum due take so long?
Each month, interest and GST are added before your payment. With a 5% minimum and about 4.4% interest, only a little goes towards the balance itself.
Putting off more than one thing?
Pick up to five and get your Delay Statement: what to do first, what can wait, and one small step for today.
Want a nudge to act on it?
The app turns what you're putting off into a short list for each day: your Top 3 and one small step at a time. It's free.
We show what waiting costs on your own plans. We never tell you what to buy or invest in. Rules and averages change, so check the official pages before you plan anything.