New Delhi, Feb. 17 -- Whether an individual has a medical emergency or wants to enjoy a leisurely family vacation, a personal loan can provide the required funding. While applying for a personal loan, you don't need to tell the financial institution about the end use of the money.

Also, with the increasing digitisation adoption, these days, personal loans are approved and disbursed quickly. These factors make personal loans a go-to option whenever an individual needs funds. Inspite of these features and benefits, there are many myths surrounding personal loans.

These myths make people wary of applying for them. In this article, we will discuss some common myths about personal loans.

One of the biggest myths about personal loans is that...