Are you planning to buy the latest iPhone 6s Plus this festive season but cannot afford to shell out the entire Rs 92,000 at one go? While financial prudence suggests you should not go for it but given the liberal use of credit cards by consumers, many will be tempted to swipe it. Another option is a festival loan, that is, another form of a personal loan.
According to Prashant Hegde, co-founder, Loanstreet.in, loan is preferable because the tenure is longer. â€œIt can go up to five years in case of personal loans, while EMI on credit card is between six and 12 months,'' he says.
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