Published on Jul 21, 2020Updated on Aug 30, 2026
According to data provided by The Reserve Bank of India, the number of credit cards in use has increased to 4.9 million from May 2019 from 38.6 million in 2018. The tremendous increase in the usage of credit cards is driven by convenience offered by credit cards accompanied by the growth of digital. However, credit cards are a double-edged sword, and not honoring your debts on time can lead to mountain debts piling up over time.
Must Read: Credit Card Loan vs. Personal Loan
Log into the website of the loan provider, understand the fine print, and calculate the loan amount you are eligible before making a decision. Take a baby step towards debt-free living!
Important Note: This article is for general informational purposes only and may be subject to change from time to time. As product features, eligibility criteria, interest rates, charges, fees, tenures and other terms may be revised as per SMFG India Credit's policies, readers are advised to refer to the latest details from the respective product pages (please select from the top menu). For the latest loan charges, please visit Charges & Fees Link and for the latest Interest rates, please visit Interest Rate Rationale. Please note that final loan terms, disbursement process and eligibility criteria will depend on SMFG India Credit's policies at the time of loan application.
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