What is the difference between Minimum Due and Total Due? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between Minimum Due and Total Due?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

Minimum is the minimum amount required, and Total is the total amount due for the session.

Key points

  • See the effect of paying the minimum on interest.

  • Paying the minimum does not eliminate the cost of financing.

The figures, fees and limits in this answer vary by bank and change over time — confirm them with your bank or the official source before acting.

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