CA अनंत पांडे: Credit Card Loans Risky, Personal Loans a Better Option

• Loans are easily accessible but require careful management to avoid financial trouble.
• Chartered Accountant Anant Pandey advises on choosing the right loan and necessary precautions.
• Credit card loans are considered very dangerous due to high interest rates (30-40% annually), penalties, and hidden charges.
• Personal loans are a better alternative, typically carrying an interest rate of 12-16%.
• Always read loan guidelines thoroughly and ensure timely repayments for smooth financial management.

Why It Matters: It warns against high-interest credit card loans, advising safer personal loan choices.