New Delhi, Oct. 1 -- Before going ahead with any particular personal loan agreement, it is vital for aspiring borrowers to acknowledge several important points. Factors such as affordability, repayment tenure, credit score, and collateral to meet debt obligations in case the borrower is unable to repay are required to be taken into consideration. One must follow the regulations diligently.

Furthermore, the role of proper financial education can also not be denied, especially when aspiring borrowers look ahead to securing new personal loans. Keeping the above facts in mind, here are five points every borrower should know and follow before going ahead with any particular personal loan product.

Longer loan repayment tenures can definitely ...