New Delhi, Feb. 21 -- Loans have become a popular choice for people who want to get temporary financial assistance to cover their expenses. A multipurpose loan is a flexible loan which enables you to borrow money without providing a specific reason for the same.

This flexibility allows you to use the funds as per your convenience which can be for consolidating debt, paying for unexpected expenses, or financing personal pleasures like vacations or buying a luxurious gift.

However, before you decide on getting a multipurpose loan, it is important to understand the key features, eligibility as well as the documents required for the application so that you can compare and get the best deal for yourself.

Quick processing and disbursal: Thes...