India, Nov. 6 -- A personal loan can be a practical financial tool for managing unexpected expenses, consolidating debt, or funding major life goals, such as education, home renovation, or travel. However, determining the right amount to borrow is one of the most crucial decisions in the process. Borrowing too little may leave you short of funds, while borrowing too much can strain your finances with unnecessary debt and higher interest costs.

Choosing the correct personal loan amount requires thoughtful evaluation of your needs, income, repayment capacity, and long-term financial goals. Here's a comprehensive guide to help you make an informed decision.

A personal loan is an unsecured credit facility that allows borrowers to access fun...