New Delhi, March 6 -- In today's digital age, small personal loans are a very popular source of finance for people who want money at a short interval of time. Simple online processes and fewer documents are helping these loans revolutionise borrowing money.

Small personal loans offer instant approval with minimal paperwork. They provide flexible amounts, repayment terms, and often require no collateral. Interest rates generally range from 10% to 31% per annum with tenures extending years. Financial institutions such as: Bajaj Finserv, Airtel Finance, IndusInd Bank among others offer such loans.

Now before applying for such loans borrowers need to carefully understand several important points such as: integrity of the financial instituti...