Advice to prioritise high-cost loans and refinance debt
In short
Business Standard Finance said borrowers should first pay secured and high-cost loans. It also suggested refinancing or consolidating debt to bring down interest costs.
The advice is meant for people handling festival EMIs and credit card bills. It can help cut repayment pressure if they move expensive debt first.
What the reporting says
Business Standard Finance advised borrowers to prioritise repayment of secured and high-cost loans and to consider refinancing or consolidation to cut interest costs. The guidance was published for people managing festival EMIs and credit card bills. It could help reduce repayment stress and lower total borrowing costs if borrowers use it to restructure expensive debt.
Why it matters
Business Standard Finance published repayment advice for people facing festival EMIs and credit card bills, recommending that they first clear secured and high-cost loans. It also suggested refinancing or debt consolidation to reduce interest costs. The guidance is relevant to households managing short-term cash flow and expensive consumer borrowing, especially where credit card balances carry higher rates.