Credit card balance transfers to personal loans are easy today

Lower interest rates, longer repayment tenure are advantages, provided you service the EMI regularly

Online lending platform, Loantap.in, which provides retail loans for salaried customers used to receive about one or two enquiries for personal loans in three to four months. Over the last one to two years, the number of enquiries for personal loans has increased to about 15 in three to four months. And about 30 per cent of the personal loans availed are for paying off credit card outstanding dues, says Satyam Kumar, co-founder, Loantap.

“Usually, personal loans for direct consumption are taken for large ticket items like wedding, etc. But in most cases we see that personal loans are taken