New Delhi, June 24 -- Taking a personal loan is not difficult anymore with plenty of options to go around. One can easily borrow loan from a bank, an NBFC or even a fintech platform. But one should be careful about raising a loan since it carries a high rate of interest.

Therefore, one should rather save money instead of relying on quick loan for meeting financial needs. However, what would one do if the financial need is both sudden and urgent. To make things simpler, we present five key reasons for which one can raise personal loan.

I. Emergency: One of the key reasons for raising a personal loan is personal emergency. Let us suppose, someone in family is critically ill or an old friend needs the funds. The emergency could be of any t...