In education, the university does not matter more than your performance and marks. You might have graduated from IIT but your scores might be average. Similarly, you might have graduated from IGNOU and scored much more marks. Your degree from IGNOU can never be a negative aspect in your resume.
PROS:
Saves your time.
Allows you to multitask- you can do a job along with studying.
You can take exams from any place in India
CONS:
You will definitely miss your college days.
You might miss fests and other extracurricular activities.
You can continue to prepare for further exams alongside doing BA from IGNOU. There are several examples where people cracked UPSC at the age of 22 with just a degree from IGNOU without any coaching. One such example is Keshavendra Kumar IAS from Bihar. So yes, it’s a tough but probable choice you need to make.