BusinessPhoto: News18Hi BusinessHow Minimum Credit Card Payments Lead to ₹44,780 Debt on ₹50,000 Bill
Paying only the minimum amount on a credit card can trap users in deep debt. For a ₹50,000 bill, if you pay the minimum ₹2,500 monthly, after paying ₹30,000 in a year, about ₹44,780 remains unpaid. This calculation explains how minimum payments cause such high outstanding debt.
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