Credit cards are a popular and convenient way to help you handle payments. You can make full payments or split expenses into instalments for added affordability. Should you choose the latter, knowing the approximate Equated Monthly Instalments (EMI) amount is essential. 


With this information, you can develop a repayment strategy based on your income and budget. You can find these details by using an online credit card EMI calculator.

How to Calculate EMI on Your Credit Card

The conversion to EMI facility offered on credit cards is quite straightforward. After making a purchase of a high amount with your credit card, you can opt to split it into fixed EMIs. 


You are then responsible for paying these EMIs over the chosen tenor. It is essential to remember that the interest rate you get is determined by the issuer. In some cases, it can vary based on the tenor, but it will be mentioned clearly.  


So, check your options and note the rate you get. Then, use a credit card EMI calculator and enter the following information:

  • Principal Amount: This is the total amount you plan to convert into instalments

  • Tenor: It refers to the duration (in months) over which you wish to spread your EMIs for the repayment

  • Interest Rate: This represents the rate of interest the issuer offers on your credit card payments


Once you input these details into the digital tool, simply click on 'Continue', 'Submit', or 'Calculate'. It will then display both the EMI amount and the interest payable.

Advantages of the Credit Card EMI Calculator

Digital tools like the credit card EMI calculator are very helpful and simplify a lot of complex calculations. Here’s how they help. 

  • Supports Repayment Planning

With this tool, you can find out the EMI amount you need to pay, based on simple inputs like the principal amount, tenor, and applicable interest rate. It allows you to create an affordable repayment plan, after considering your income and expenses.


Additionally, it can serve as a credit card interest calculator too, as it provides insights into the actual cost of this facility. 

  • Helps Compare Repayment Plans

The terms you choose or those applicable to you can impact the final EMI amounts. With this tool, you can compare multiple options by tweaking the values you input into the calculator. You can compare the EMI amount with different interest rates and tenors instantly. 


Such comparisons help you assess your options and choose one that prioritises affordability and cost-saving. While this is also possible by comparing the interest rates, knowing the exact amounts allows you to make more informed decisions. 

  • Eliminates the Need for Manual Calculations

This digital tool eliminates the hassle of calculating the EMI amount manually, which can be tedious and time-consuming. Manual calculations are also prone to errors, especially if the principal amount is high and the tenor is longer. 


The calculator instantly estimates your EMIs and total interest based on the information you enter. This way, you can get accurate results in seconds.

  • Available to Use Online for Free

A key advantage of these online calculators is that they are readily available to use without any charge. As such, you can learn how to use a credit card EMI calculator online and try out various combinations for free. 


You can also access them anytime, through a device that has internet connectivity. In addition, most of these calculators are easy to understand and use. You just need to enter some basic details to get results instantly.

FAQs About the Credit Card EMI Calculator

What is a credit card EMI calculator?

A credit card EMI calculator is a handy online tool for calculating EMIs for credit card purchases. It provides exact figures regarding the amount you need to pay if you opt to convert your payments into instalments. 


You just need to enter the principal amount, interest rate, and tenor to calculate the EMI amount and total interest. 

How can I calculate the EMI amount for a credit card purchase manually?

You can manually compute the EMI amount with the help of the following formula:

E=[P×R×(1+R) n] ÷ [(1+R) n-1]



  • E = The EMI amount

  • P = The amount you wish to convert into instalments

  • R = The applicable rate of interest

  • N = The chosen repayment tenor 

Are there any charges applicable on utilising the credit card EMI calculator?

No, you can use the credit card EMI calculator free of cost, and as many times as you need.

What information do I need to input into a credit card EMI calculator?

Using a credit card EMI calculator is quite straightforward. You just need to enter the principal amount, applicable interest rate, and chosen tenor.

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