New Delhi, Nov. 3 -- Personal loans are complicated debt instruments. They help borrowers in need immensely by providing them with much-needed financial assistance. Still, they come with factors such as high interest rates, hidden charges, rigid repayment schedules, penalties, and a negative impact on credit score, among other associated factors.

This makes asking the right questions of yourself even more critical before going ahead with any particular personal loan.

The country's rapid technological development has made securing new personal loans, credit cards, and home loans easier than ever before. Still, the decision to borrow is always the most critical call of all.

Any borrowing decision that overlooks the risks associated with ...