New Delhi, June 27 -- Taking a personal loan is simple these days. All you need is eKYC and the ability to repay. But what works behind the psychology of taking loan? Ideally there should be a strong need for it but the guilt of raising loan should be minimal.

To put it simply, when you raise a loan, you should have a strong need for it, instead of securing it merely because it is available. The key reasons for raising a loan could range from personal emergency to house renovation and from wedding expenses and higher education to urgent travel.

These are some of the four key reasons of raising a personal loan.

I. Emergency: One of the key reasons for raising a personal loan is personal emergency. Let us suppose, someone in family is il...