New Delhi, Feb. 14 -- If you are considering loan options and are having a tough time in choosing between a personal loan and mortgage, it is important to consider a few factors so that you can make the right choice. While personal loan and mortgage loans have their own advantages and disadvantages, their few unique features can help you choose the right deal for you.

Personal loans are unsecured loans, which means you do not require collateral in order to apply for the loan. These loans are offered to you based on your credit score as well as your credit history. This is why these loans generally offer higher interest rates as compared to other loans in the market due to the increased risk for the lender.

No collateral: Since personal ...