By MoneyBees
See how long it takes to clear a credit card balance paying only the minimum, the interest it costs at your card's rate, and how much faster a fixed monthly payment gets you out.
DBS and UOB charge 27.8%, Citi 27.9%. See your statement.
DBS, OCBC and UOB: 3% or S$50, whichever is higher.
Paying the minimum
17 yr 3 mo
$11,351.42 interest
Paying $300 a month
1 yr 9 mo
$1,207.09 interest
To clear in a year
$471.13
a month, $653.52 interest
Your first minimum payment is $150.00. Interest on $5,000.00 is about $115.83 a month, so most of an early minimum payment goes to interest.
Paying $300 a month instead saves $10,144.34 in interest and clears the card 15 yr 6 mo sooner.
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| Year | You pay | Interest | Still owed |
|---|---|---|---|
| Year 1 | $1,727.31 | $1,190.45 | $4,463.15 |
| Year 2 | $1,577.57 | $1,190.65 | $4,076.23 |
| Year 3 | $1,440.80 | $1,087.43 | $3,722.85 |
| Year 4 | $1,315.90 | $993.16 | $3,400.11 |
| Year 5 | $1,201.82 | $907.06 | $3,105.35 |
| Year 6 | $1,097.63 | $828.42 | $2,836.14 |
| Year 7 | $1,002.48 | $756.61 | $2,590.27 |
| Year 8 | $915.57 | $691.02 | $2,365.72 |
| Year 9 | $836.20 | $631.11 | $2,160.63 |
| Year 10 | $763.71 | $576.40 | $1,973.32 |
| Year 11 | $697.50 | $526.43 | $1,802.25 |
| Year 12 | $637.03 | $480.79 | $1,646.01 |
| Year 13 | $600.67 | $437.78 | $1,483.12 |
| Year 14 | $600.00 | $386.45 | $1,269.57 |
| Year 15 | $600.00 | $318.90 | $988.47 |
First 15 of 18 years shown.
| Bank | Minimum payment | Interest a year | Late fee |
|---|---|---|---|
| DBS | 3% or S$50 | 27.80% | S$100 |
| OCBC | 3% or S$50 | 27.78% | S$100 |
| UOB | 3% or S$50 | 27.8% | S$100 |
| Citi | 1% plus interest and fees, or S$50 | 27.9% | S$100 |
Each bank adds any overdue amount to the minimum. Figures from each bank's own fees page, dated in the sources.
You owe S$5,000 at 27.8% and pay 3% or S$50. The first minimum is S$150. Interest on that balance runs about S$116 a month, so only about S$34 of a S$150 payment cuts the debt.
As the balance falls, the 3% falls with it, until the S$50 floor takes over. Paying only the minimum takes 17 years and 3 months and costs about S$11,351 in interest. A fixed S$300 a month clears it in 21 months for about S$1,207.
If the minimum payment is not paid by the due date, the debt is past due. MAS requires banks to suspend all your unsecured credit once you are more than 60 days past due. Banks also suspend your cards if your interest-bearing unsecured debt across all lenders stays above 12 times your monthly income for 3 months in a row.
Each month the card's interest is added to the balance, then you pay the minimum or your fixed amount. Banks charge interest daily, so your statement will differ a little. New spending, late fees and minimum interest charges are left out.
Figures checked 3 Oct 2026.
Each bank sets its own. DBS, OCBC and UOB ask for 3% of the balance or S$50, whichever is higher, plus anything overdue. Citi asks for 1% of the balance plus interest and fees, or S$50.
At 27.8% with a 3% or S$50 minimum, about 17 years and 3 months, with about S$11,351 in interest. A fixed S$300 a month clears it in 21 months.
DBS and UOB state 27.8% a year, OCBC 27.78% and Citi 27.9%, charged on unpaid balances. Check your own card's fees page or statement.
Yes. Paying less than the full statement balance means interest on what is left. OCBC, for example, gives the interest-free period only when no balance is carried forward.
The banks named here charge a S$100 late fee, and some add a higher interest rate. Once you are more than 60 days past due, MAS requires banks to suspend your unsecured credit.
Yes. If your interest-bearing unsecured debt across all lenders is above 12 times your monthly income for 3 months in a row, your cards and credit lines are suspended.
The minimum is a share of what you owe, so it falls as the balance falls. Most of each payment goes to interest until the S$50 floor kicks in.
Pay a fixed amount well above the minimum every month and stop adding new spending. A lower-rate loan used to clear the card can also cut the interest.
These calculators provide general estimates for educational purposes only and are not personalised financial advice. Results may rely on rates and rules that change over time, so verify against official sources (IRAS, CPF Board, HDB, MAS) or consult a licensed financial adviser before making decisions.
Junxiong-WFG Organisation is an authorised representative of AIA Financial Advisers Private Limited (Reg. No. 201715016G).