Credit Card Interest: Ongoing New Spending Each Month
A 30,000 balance where the cardholder keeps spending 3,000 a month while paying only the minimum due, showing why the balance barely shrinks.
On a ₹30,000 balance at 40% APR, paying only the minimum due costs ₹30,29,756 in interest and the balance never gets paid off.
- Outstanding balance
- ₹30,000
- Interest rate (APR)
- 40%
- Payment plan
- Minimum due
Total interest if you pay only the minimum due
Never paid off₹30.3 Lakhs
₹30,29,756
Balance never gets paid off at this rate
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Interest compounds monthly on the outstanding balance. Minimum due is recalculated against the current balance each month and never falls below the floor amount. Actual card terms vary by issuer.