How each one charges you
A credit card gives you an interest-free period, typically up to 45–50 days, if you pay the full statement balance. Once you carry a balance, interest is charged at monthly rates that often work out to 36–48% a year, and it is charged on new purchases too until the balance is cleared.
A personal loan has a fixed rate and a fixed EMI from day one. There is usually a processing fee, but no interest-free period.
When the card wins
If you can repay in full within the interest-free period, a card is almost always cheaper: you pay nothing extra. It's also handy for small, everyday amounts where a loan application isn't worth the effort.
When a personal loan wins
If you need several months to repay, a personal loan is usually cheaper. Card interest at 3–4% a month quickly overtakes a loan's APR. A loan also forces structure: a fixed EMI and an end date, so the debt doesn't linger.
Converting a card balance to EMIs through your bank is a middle path — compare its APR including the conversion fee before agreeing.
Watch the minimum due trap
Paying only the minimum due on a card keeps your account in good standing, but interest keeps building on the rest. Many people end up paying far more than they borrowed. If you can only afford the minimum, a structured loan to clear the card may save money — as long as you don't run the card up again.
A quick checklist
Can you repay within 45 days? Use the card and pay in full. Need three to twelve months? Compare a personal loan's APR with your card's annualised rate. Either way, borrow only what you can repay from your regular income without missing essentials.