Credit cards (revolving)

Projections use a simplified interest model: balance × annual rate × assumed days ÷ 365, with an assumed 18% GST on card interest. Enter the minimum due from your statement. Where it is missing, the calculator uses an illustrative minimum based on 5% of the balance, a ₹200 floor, and modeled charges. This is not an RBI-prescribed formula. Your issuer's statement, billing cycle, allocation rules and terms determine actual dues.

Term loans and EMIs

Remaining interest and payoff time are estimated by applying the recorded annual rate to the reducing balance month by month and capping the last instalment at the amount owed. Recorded tenure is shown as lender-reported context; it is not substituted for the calculated cost.

Payoff strategies

Avalanche targets the highest interest rate first and snowball the smallest balance. Hybrid ranks each debt with a fixed, deterministic score: 70% of the weight comes from the interest rate relative to your highest rate, and 30% from how small the balance is relative to your largest one. Extra payments cascade to the next debt once one is cleared.

Disclaimer

NiyamPay is not registered with SEBI or RBI. Recording a payment here does not move money or confirm receipt by your lender. An autopay setting only records an arrangement you report having made separately with your lender.

Figures are estimates for planning only. Lenders may apply different billing cycles, compounding conventions, processing fees or prepayment charges. Your statement is always the source of truth.