How it’s worked out
Each month, interest at the yearly rate divided by 12 is added to the balance, along with any account fee, and then your payment is taken off. The calculator repeats this until the balance is clear, assuming you don’t spend more on the card.
Minimum payments
Each bank sets its own minimum payment, usually a percentage of the balance with a floor. We couldn’t find a Zimbabwean bank’s published minimum, so the calculator starts from a fixed payment you choose, and lets you type your card’s minimum under “Minimum payment and fees” to compare. The 5% and US$10 shown there are only an example.
A payment that never clears it
If your payment doesn’t cover the interest added each month, the balance never comes down. The calculator tells you when that happens.
We don’t offer credit or recommend lenders. If you’re struggling with repayments, talk to your bank early.