Which is better, a personal loan or credit card to shop expensive product online?There are infinite products available for online shopping. Luxury products are no longer restricted to the rich and famous class, but a vast range of new-age consumers. People nowadays have goals to own luxurious products such as the latest version of the iPhone, multi-purpose home appliances, diamond jewellery, designer outfits and more! But these are beyond affordability for the masses, that’s when credit cards and personal loans help financially to own expensive products online. But which is a better option – a credit card or a personal loan?
A credit card is always a handy option for online or offline shopping. It is as good as a debit card wherein you just enter the card details to buy the product. However, credit cards incur a fixed amount of interest at a later stage, which gets reflected in the bill. So, if the online product is expensive check for other financial options such as instant personal loans other than credit cards.
Gone are the days when personal loans appeared to be heavy. With instant loan apps online, the procedures have simplified and loan approvals are given the same day within 24hours. So, if you have plans of purchasing an expensive product online, apply for a personal loan quickly through an instant personal loan app and make your dream come true. Personal loan apps require minimal documentation in a paperless format that makes the loan approval and disbursal faster.
Simply Cash is an instant loan app powered by HeroFinCorp. Customers having a list of expensive products to purchase online can avail of a quick loan between Rs. 50,000 to Rs.1,50,000 from Simply Cash. Any working or self employed individual having a stable salary of Rs.15,000* monthly can avail of a personal loan or consumer durable loan. Submit an authentic set of KYC details to initiate the loan approval. It will get verified in real-time and disburse the loan amount directly in the borrower’s bank account.
The advantage of availing of personal loans is that borrowers can evaluate the instalment in advance. The EMI calculator in the loan apps helps in calculating the EMI within seconds. This is not the case with credit cards. You cannot predict your exact credit card bill in advance. The added interest rates blow up the bills and give repayment stress. If not paid on time, it keeps piling up as a debt.
Personal loans are versatile and also help to repay credit card loans. So, whether it is buying an expensive product online or offline, borrowers can always rely on personal loans first instead of credit cards. The collateral-free feature of personal loans demand zero collateral and keep your assets safe.
Here are the top 3 products you can buy online using an instant personal loan/credit card:
- Smart Watches are compatible with iPhones / Android phones. This is one pricey gadget available with good deals online. It is useful for calling, viewing messages and also to track your daily health statistics.
- Professional Cameras are available in different varieties and specifications. This is one expensive product that can be bought at an affordable rate online. DSLR photography is in great demand nowadays and buying hi-tech cameras let you capture moments with utmost clarity.
- Home Security Systems inclusive of multi-view cameras, anti-theft lockers, video door phone etc. can be purchased online using personal loans or credit cards.