Aaj ke time me paise ki zarurat kabhi bhi aa sakti hai. Emergency, shopping, ya business expansion. Aur phir question hota hai – personal loan lo ya credit card ka hi use karo?

Log confuse ho jaate hain. Interest rate, EMI, repayment, aur CIBIL impact ke chakkar me. Main yahan simple desi style me bataunga – sach kya hai aur kya jhooth.

Personal Loan – Quick Overview

Personal loan ek unsecured loan hai jo bank ya NBFC se milta hai. Aapko sirf income proof aur identity proof dena hota hai. No collateral.

Loan amount directly aapke account me transfer hota hai. EMI fix hoti hai. Tenure 12 mahine se 60 mahine tak ho sakta hai.

Credit Card – Quick Overview

Credit card short term borrowing ka tool hai. Limit fixed hoti hai. Har month ka due date hota hai. Minimum amount ya full payment kar sakte ho.

Interest tab lagta hai jab aap full payment nahi karte. Short term ke liye convenient hai. Par long term expensive ho sakta hai.

Interest Rate Comparison

Personal loan – generally 10% se 24% per annum. Depends on bank, income, and CIBIL.

Credit card – 36% to 48% per annum if carry forward balance. Kabhi kabhi high as 60% bhi ho sakta hai.

Yahi sabse bada difference hai. Long term ke liye credit card expensive ho jaata hai.

EMI Vs Credit Card Payment

Personal loan – fixed EMI. Budget easy plan kar sakte ho.

Credit card – minimum due low dikhta hai. Par agar minimum pay karte ho to interest lagta hai aur balance kabhi khatam nahi hota.

CIBIL Impact

Personal loan – ek hi enquiry. EMI time pe pay kiya to score improve hota hai.

Credit card – limit full use ya late payment se score girta hai. Multiple cards lene se enquiry bhi score affect karta hai.

Real Life Example

Rohit ke paas 3 lakh ka urgent kaam tha.

Option 1 – Personal loan, interest 15%, 24 months tenure. EMI ~14,500. Option 2 – Credit card, limit 2 lakh, interest 3.5% per month (42% annual), EMI 10,000 minimum pay.

Rohit ne credit card se kaam chalane ki koshish ki. 6 mahine me interest 80,000 ho gaya. Score gir gaya kyunki high utilization tha.

Phir personal loan liya. EMI time pe chuka. Score recover hua aur cost kam hua.

Convenience Factor

Credit card – short term convenience best. Emergency shopping, urgent bill, online payment. Par interest ka pressure zyada.

Personal loan – long term planning ke liye better. Budget manageable hota hai.

Best Use Case

Personal Loan

• Home renovation
• Medical emergency
• Business expansion
• Consolidate high interest debt

Credit Card

• Small purchases
• Online shopping
• Travel booking
• Short term emergency cash

Risk Factor

Credit card misuse ka risk high hai. Carry forward balance, late payment, over limit. Score girta hai aur EMI ka burden bhi high hota hai.

Personal loan ka risk controlled hai. Fixed EMI, fixed tenure. System me positive impact zyada.

Cost Comparison Example

Loan 1 lakh ka. Tenure 12 months. Credit card – 3.5% monthly interest. Interest = ~42,000 per year. Personal loan – 12% annual. Interest = ~12,500 per year.

Cost difference almost 3.5 times. Long term ke liye personal loan definitely better.

Quick Checklist – Decide Kaise Kare

• Emergency short term? Credit card use.
• High amount, long term? Personal loan better.
• Income stable? Personal loan easier.
• Multiple credit cards? Risky for score.
• Can manage EMI? Personal loan controlled repayment.

Conclusion

Personal loan lena generally better hai agar large amount ya long term repayment hai. Credit card se kaam chala sakte ho short term emergency ke liye, par zyada misuse se score girta hai aur interest high hota hai.

Smart approach: emergency ke liye credit card, planable expenses ke liye personal loan. Discipline aur timely repayment dono me zaruri hai.