New Delhi, Nov. 13 -- If you are short of funds and need them urgently, it is completely alright to borrow money. Typically, individuals opt for loans against their assets, such as gold, FD (fixed deposits), or mutual funds, since they are cheaper. But when you do not have any assets to give as collateral, then you could opt for an unsecured loan, such as a personal loan.

There are plenty of financial institutions which offer instant personal loans, including banks, non-banking financial institutions, and fintech platforms, without asking for too much documentation. One can simply raise a loan by giving some basic proofs such as salary slips, evidence of income, PAN, address proof, and ID card of employment.

Meanwhile, before you sign o...