New Delhi, March 28 -- Not being in the pink of financial health could prompt you to take out a personal loan. And if your financial situation is bad, you may get tempted to take out a personal loan in a jiffy. Although it is not recommended to borrow money without exercising due caution, but if you cannot help doing it for the reasons beyond your control - then the least you can do is to be careful.

Here, we list out seven key factors to be careful about before you decide to take personal loan 'instantly'.

I. High interest rates: When you are in a hurry to borrow, there could be a temptation to accept the offer even from a lender which is charging a higher APR (annual percentage rate). One should, therefore, evaluate the APR instead of...