India, Feb. 9 -- The days of standing in long bank queues for hours to speak with a manager are gone. Now, borrowing personal loan is as easy as a few taps on your smartphone.

Digital lending has completely changed how we manage financial emergencies. However, the speed of an instant personal loan online is a double-edged sword.

While you get money fast, you can also make hasty decisions without checking the facts. This guide explains loan types, eligibility, and the red flags you must avoid. You need the right information to make a solid financial choice.

An online loan is a credit facility managed entirely through digital platforms. You apply, submit documents, and receive funds without visiting a physical branch. This system uses au...