New Delhi, June 19 -- With interest rates on loans continuing to fluctuate due to the ongoing geopolitical issues, fixed equated monthly instalment (EMI) personal loans have become a go-to option for many aspiring borrowers in the country.

Provided by leading financial institutions such as HDFC Bank, ICICI Bank, IDFC First Bank, Kotak Mahindra Bank among others, these personal loans come with the comfort of consistent monthly payments.

Still, like any other financial product, fixed EMI personal loans have both advantages and limitations. Keeping this in mind, five key pros and cons to consider before opting for such loans are as follows:

1. Predictable monthly outflow: In this particular personal loan product, your EMI stays the same t...