Personal Loan vs. Credit Card: Which is Right for Your Fast Cash Needs?

• Credit cards are for short-term use; personal loans are for planned, larger borrowing.
• Credit card interest rates are high (30-40% annually in India), calculated daily, and compound quickly if balances roll over.
• Personal loan interest rates are lower (low to high teens annually) with fixed EMIs and a clear repayment schedule.
• Credit cards suit small amounts repayable quickly; personal loans are better for larger expenses needing longer repayment.
• High credit card balances hurt credit scores more than personal loans, which can build repayment history.