New Delhi, April 10 -- Have you faced any financial difficulty lately which prompted you to borrow money from a bank or non banking financial corporation (NBFC)? If that is the case, one should be mindful of a slew of things which we list out here. For instance, one should make sure that the interest rate charged onpersonal loan is not exorbitantly high, and it should be feasible to borrow money for the purpose you have chosen.

These are some of the key concerns which need to be addressed before you take out a personal loan.

I.Reason for loan is genuine: One of the key concerns to address is that the purpose of loan should be genuine. For instance, it is not irrational to borrow money for hosting awedding, for house renovation, or for a...