New Delhi, March 28 -- With a range of personal loan apps giving instant loan options all around us - is this alright to use one of these apps to arrange the money or is a prelude to an avoidable debt trap? We dig deeper to find out. First we hightlight the positive side of these loan apps followed by the concerns relating to a trap.

I. Financial inclusion: These fintech apps have expanded the net of personal loans which means more number of people can now seek loans.

II. Convenience and speed: Most these apps offer loans instantly, thus offering speed and convenience.

III. Low or minimal documentation: When you apply loan through any of these loan apps, minimal documentation is required, thus offering loan at a breakneck speed.

IV. F...