GST 18% on interest and fees
A card EMI is a loan at the card's EMI rate on a reducing balance, plus a one-time processing fee — and GST at 18% on the interest and the fee. The total is what the convenience costs over paying the bill in full.
Purchase amount₹60,000
₹
EMI interest rate16%
%
Annual, reducing balanceTenure12 mo (1 yr)
mo
Processing fee
₹
One-time, as offer states (GST added below)Cashback / discount (optional)
₹
Discount or cashback given with EMIRESULTS
Monthly EMI₹5,444+ ₹144 GST on interest in mo 1
Total interest₹5,326
Fee + GST₹1,194fee ₹199 · GST ₹995
Total cost of EMI₹6,52010.9% of purchase
You pay in all₹66,520
“No-cost EMI” offers usually deduct the interest as an up-front discount on the price and still charge GST on that interest — enter the cashback to see the net.
Month by month
Repayment, interest, GST and reducing balance over 12 months| Month | EMI | Interest | GST on interest | Balance |
|---|---|---|---|---|
| Month 1 | ₹5,444 | ₹800 | ₹144 | ₹55,356 |
| Month 2 | ₹5,444 | ₹738 | ₹133 | ₹50,650 |
| Month 3 | ₹5,444 | ₹675 | ₹122 | ₹45,882 |
| Month 4 | ₹5,444 | ₹612 | ₹110 | ₹41,050 |
| Month 5 | ₹5,444 | ₹547 | ₹99 | ₹36,153 |
| Month 6 | ₹5,444 | ₹482 | ₹87 | ₹31,191 |
| Month 7 | ₹5,444 | ₹416 | ₹75 | ₹26,163 |
| Month 8 | ₹5,444 | ₹349 | ₹63 | ₹21,068 |
| Month 9 | ₹5,444 | ₹281 | ₹51 | ₹15,906 |
| Month 10 | ₹5,444 | ₹212 | ₹38 | ₹10,674 |
| Month 11 | ₹5,444 | ₹142 | ₹26 | ₹5,372 |
| Month 12 | ₹5,444 | ₹72 | ₹13 | ₹0 |
Calculators are for information and planning. Outputs depend on the inputs and assumptions you enter and are not a recommendation to buy, sell or hold any security or product. Streetgains Technologies Private Limited is a SEBI Registered Research Analyst (INH000017082); it is not a loan provider, tax adviser or mutual fund distributor.