Personal Finance Is it okay to take a personal loan to pay off credit card bills? Updated : February 18, 2020 12:07 PM IST While there might be many ways to tackle this situation, one of the most popular way is taking a personal loan. The interest payable on personal loan is comparatively lower as compared to those on credit cards. Loans can also help in determining an EMI that is best suitable for an individual. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.