Which costs less?
According to financial experts, if the expense is large and not linked to any specific merchant offer, a personal loan is often cheaper in the long term. Credit card EMI may make sense in cases where the term is short, the offer is transparent and the total cost is clearly understood. The biggest mistake is taking decisions based on convenience. Credit card EMI seems quick and easy, but sometimes it slowly takes away more money from your pocket. Personal loans may involve a little more processing, but in many conditions, it protects your savings better.
Disclaimer: This article is for general information and educational purposes only. The interest rates, charges and terms given herein may change from time to time and may vary from bank to bank or financial institution. Before taking any kind of personal loan or converting it into credit card EMI, please check the complete information from the concerned bank.