New Delhi, June 27 -- Personal loans are increasingly being seen as a quick fix for cash flow needs. They offer easy access to funds without the need for any collateral. Currently the interest rates on personal loans start from around 9.99% per annum for reputable credit score borrowers and can go above 20% for riskier borrowers.

With various lenders now providing more flexible tenures and faster disbursals many individuals are wondering if now is a good time to borrow.

Still, just because a personal loan is easy to access due to the ongoing digital revolution in lending, it doesn't mean it should be taken lightly. Understanding when it makes sense and when it doesn't, is key to borrowing smartly.

You should consider taking a personal ...