The Core Difference
Credit cards charge 36-48% p.a. if you carry a balance. Personal loans charge 10-24% p.a. with fixed EMIs.
When to Choose Personal Loan
If you cannot repay within 45 days, a personal loan is almost always cheaper. For βΉ2 Lakh for 12 months: credit card interest = βΉ96,000 vs personal loan at 12% = βΉ13,000.