Credit card minimum payment calculator
Estimate the minimum due and its effect on your balance.
Your estimate
Estimated minimum paymentBDT 25,000.00
- One month’s interest before payment
- BDT 12,500.00
- Balance after interest and payment
- BDT 487,500.00
- Principal reduction
- Payment covers interest and reduces principal.
Results update as you change the numbers.
Sample inputs. Enter your own rates and fees. See assumptions below.
Formula, example & assumptions
Behind the answer
How it works
Minimum = min(balance, max(balance × minimum rate, floor)). Next balance = balance + monthly interest − payment.
Minimum = min(balance, max(balance × minimum rate, floor)). Next balance = balance + monthly interest − payment.
A worked example
On 10,000 at 5% minimum and 2.5% monthly interest, pay 500 and the modeled balance is 9,750.