Credit Card Interest Calculator
Understand the true cost of carrying a balance.
Credit Card Interest Calculator
Monthly Interest = Balance x (APR / 12)
Calculated instantly
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What This Calculator Does
The Credit Card Interest Calculator reveals the monthly interest charge on an unpaid balance, making the cost of revolving debt impossible to ignore. Use it before deciding how aggressively to pay down a card.
How It Works
Monthly interest is the balance multiplied by the annual percentage rate divided by 12. Because cards compound daily, this is an accurate first-order estimate of the next statement charge.
Example
A R3,000 balance at 24% APR accrues about R60 in interest this month and roughly R720 over a full year if the balance stays flat.
Formula
Interest = Balance × (APR / 100 / 12)Annual = Balance × APR / 100Reading the Results
Monthly Interest Charge
The estimated interest added to your balance in a single statement cycle based on the current APR.
Annual Interest
The yearly interest cost if the balance stayed constant, useful for seeing the true cost of revolving debt.
Frequently Asked Questions
How is credit card interest calculated?
Cards convert the APR to a daily rate and charge interest on the average daily balance. Monthly interest approximates balance x APR / 12.
How can I avoid paying interest?
Pay the full statement balance before the due date every month. Most cards then offer a grace period with no interest on purchases.
Does this include fees?
No. Late fees, balance-transfer fees, and cash-advance fees are separate from the interest charge shown here.