Compare taking a personal loan versus converting your credit card balance to EMI, factoring in the 18% GST trap.
Converting a credit card balance to EMI usually costs 15-20% interest plus 18% GST on each EMI's interest component. In FY 2026-27, a personal loan at 12-14% is almost always cheaper as it carries a lower base rate and avoids the ongoing GST 'interest trap' associated with credit card financing.
Last verified May 2026
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