New Delhi, April 23 -- A personal loan can impact your future loans in several ways, presenting both positive and negative aspects.

Consider these additional factors:

In essence, the influence of a personal loan on your future loans hinges on your credit management. Responsible borrowing and punctual repayments can enhance your creditworthiness and open doors to improved loan terms down the line. Conversely, accruing more debt and failing to meet payments can harm your credit rating and restrict your borrowing opportunities.

A personal loan is a type of unsecured loan that you can use for various purposes. Unlike a car loan or mortgage, it doesn't require collateral such as a car or house to qualify. Typical uses include:

Personal loa...