I have about 2L of credit card of which i pay 8000 INR as Monthly payment for may be over 2 years, do you suggest to close this using personal loan with EMI of about 8K for 3 years
Yes indeed, the rate of personal loans with equated monthly installments are usually substantially lower. A credit card carries very high interest and the amount that is rolled over compounds rapidly. You should convert to a personal loan and EMIs at the earliest. Please negotiate for a good rate and try borrowing from a nationalised bank and not a finance company — finance companies charge significantly higher rates.
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