Verified 6 Aug
Gita Joshi
Asked 13 Apr 2026
Short answer: no, EMI on credit card is not cheaper than a personal loan for large amounts (>₹50,000). The processing fee (~₹199-₹599) plus the interest (~14-16% reducing) usually adds up to slightly more than a personal loan rate of 11-13%. But for small-ticket EMI (₹10-20K), it is fine.
I had the same dilemma. The way I decided was: list down my top 3 monthly spend categories, calculate the rewards on each card, and pick whichever gives the highest cashback on MY pattern. Generic 'best card' lists are useless for personal decisions.
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A Mastercard premium tier card.
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A Mastercard basic card.
Banks say annual fee is waived if I spend ₹50,000 in the previous year. Does the spend include EMI, wallet loads, and reversals? Please clarify with examples.
