New Delhi, Dec. 19 -- Personal loans continue to remain a popular financing option in the country. These loans help meet indispensable needs, such as medical expenses, travel, or debt consolidation. Still, before applying, borrowers must clearly acknowledge and understand what determines their personal loan EMI, i.e., equated monthly instalments.

Keep in mind that an individual's loan EMI has a direct impact on their monthly cash flow. Personal loans, on a fundamental level, are unsecured in nature; that means, unlike secured loans such as home loans or gold loans, personal loans don't require borrowers to pledge any assets or collateral.

Atul Monga, CEO& Co-Founder, BASIC Home Loan, adds to this, stating, "Unlike home loans, which are ...