Bali is better for EDC in my experience. None of them is great as an EDC, though, and none of them is a great self defense knife, IMO, there are much better options out there.
However, if I had to chose one of the two as a self defense tool I'd pick the Karambit.
It needs more skill and training to use properly, but doesn't have the deployment problems of a bali under stress (ezpecvially if it's a fixed blade) and its curve is excellent for incapacitating slashes, deep cuts and trapping the attacker's weapons/arms/legs. It is also a very specialised fighting tool, more so than the Bali.
I used quite a few Balis and Karambits (fixed and folders) and would recommend:
On the cheaper side: Mantis, Fox, 5.11,
On the expensive side: Emerson, Cold Steel Tiger Claw, Cold Steel Tiger (fixed), and a Waved Spyderco Civilian/Matriarch/Spyderhawk or CS Black Talon II in reverse grip, even though they are not strictly speaking a karambit