Full explanation
For large planned expenses (appliance, medical, travel): personal loan at 12–18% is significantly cheaper than credit card EMI or revolving balance at 36–42%. For small expenses you can repay in full next month: credit card is fine (30-day float, rewards points). Never use a credit card for expenses you can't pay in full — the interest compounds rapidly. If you already have credit card debt, a personal loan to pay it off (lower rate) is a sensible consolidation strategy. Use the debt consolidation calculator to see the savings.