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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Sucheta Dalal Trustee - Moneylife Foundation

Abhay Datar Abhay Datar is a consumer activist and is also Member of the Managing Committee of Mumbai Grahak Panchayat (MGP). He was Treasurer at MGP for over two and a half years. After working at Bank of Baroda for about 29 years, he retired as IT Manager. After retirement, Mr Datar joined Consumer Guidance Cell of MGP in 2008 and solved many cases related to banking including online fraudulent transactions, misuse of credit cards and ATM cards. Also handled cases related to mobile and mediclaim. Mr Data

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