When Should You Use a Personal Loan Instead of Your Savings or Credit Card?

A personal loan at 12% to 18% annual interest on a structured 12 to 24-month repayment is substantially cheaper than revolving at 36% to 42%. For medical expenses, significant home repairs, or education fees, anything above ₹50,000 where repayment is measured in months, a personal loan generally wins on total cost.

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