Should I go for a loan on credit card or take a personal?loan?
Manju Tripathi
Finance professional with more than 15 years of experience working at mid-level to senior-level positions with Fintech, NBFCs and banking organizations. Main specialization in credit underwriting and process compliance.
If you are considering a loan then opting for a Personal loan is advisable because Credit Card’s interest rates are huge when compared to Personal loans. Credit Card Interest rates are between 2.5 to 3 % per month which comes out to be 30–36% per annum, whereas Personal Loans are available from rates starting at 10.99% per annum at present.
However, if you take a Credit Card and always pay the Full Due amount, on or before due date, then a Credit Card offers 20–50 days worth of free credit period. The interest triggers if you make a partial payment of the Full due amount or just pay the Minimum Due.
You can apply for an attractive offer with best possible Rate of Interest and Terms for Personal, Business and Home Loan.
FundsTiger is an Online Lending Marketplace where you can avail fast and easy Home, Business and Personal Loans via 30+ Banks and NBFCs at best possible rates. We will also help you to improve your Credit Score. We have dedicated Relationship Managers who assist you at every step of the process. We can also help you in Balance Transfers that will help you reduce your Interest Outgo.