This chat is over now: Are personal loans cheaper than credit card loans?

These days many banks and financial institutions are offering easy and instant personal loans. You may choose to avail a personal loan for financial requirements like marriage, medical emergencies or even for travel.

While availing a personal loan for fulfilling emergency requirements can be the most feasible option, you must understand the implications of taking this loan and the terms and conditions associated with it.

But do you know about the risks associated with taking a personal loan?

How expensive are personal loans compared to other loans?

How cheaper are they compared with credit card loans?

When should you go for them and when should you not?

How to prepare yourself about paper work, loan terms and prepayment before applying for a personal loan?

Harshala Chandorkar, senior vice president, CIBIL, will answer your queries on personal loans in an online chat on NOvember 18, between 3 pm and 4 pm.

Click on the Red Button above or click here to ask your questions.

About Harshala Chandorkar

Harshala Chandorkar, senior vice president, consumer relations at CIBIL, is a qualified chartered accountant and has been with CIBIL since its inception in 2000. She is a member of the pioneering team that established credit information infrastructure in India. Prior to joining CIBIL, she worked with HDFC for four years.

About CIBIL

CIBIL provides comprehensive credit information on consumer and commercial credit to credit grantors, individual consumers and business entities in India. CIBIL's over 900 strong member base includes banks, financial institutions, non-banking financial companies and housing finance companies.