Feature<\/strong><\/td>Personal loan<\/strong><\/td>Line of credit<\/strong><\/td><\/tr>Fund disbursal<\/strong><\/td>| The entire approved amount is credited in one payment after approval.<\/td> | Funds can be withdrawn whenever needed, up to the approved credit limit.<\/td><\/tr> | Interest charged on<\/strong><\/td>| Interest is generally charged on the full loan amount from the date of disbursal.<\/td> | Interest is generally charged only on the amount actually withdrawn and outstanding.<\/td><\/tr> | Repayment<\/strong><\/td>| Fixed EMIs over a predetermined tenure with a clear repayment schedule. Learn more about the minimum and maximum loan tenure before choosing a repayment period that suits your finances.<\/td> | Repayment terms vary by lender and may allow flexible withdrawals and repayments within the approved limit.<\/td><\/tr> | Flexibility<\/strong><\/td>| Limited. Once the amount is disbursed, additional borrowing requires a new application.<\/td> | High. Borrow, repay and borrow again within the available limit, subject to lender terms.<\/td><\/tr> | Best for<\/strong><\/td>| Planned, one-time expenses with a known budget, such as medical treatment, education, travel or home renovation.<\/td> | Ongoing or unpredictable expenses where borrowing needs may change over time.<\/td><\/tr> | Tenure<\/strong><\/td>| Fixed tenure, typically ranging from a few months to several years, depending on the lender.<\/td> | The credit facility remains available for an approved period, while each withdrawal may have its own repayment terms.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n | | | | | | | | | |