New Delhi, Sept. 22 -- As the festive season approaches, many households may consider taking a personal loan, using a credit card, or opting for other forms of credit to fund travel, shopping, or family expenses.

But before adding another EMI, borrowers may need to look at how much of their income is already going towards debt repayment.

According to a survey conducted by debt and loan resolution platform Expert Panel, 60% of borrowers have EMIs that either exceed or nearly equal their total monthly family income.

The platform also found that 40% of borrowers were managing existing EMIs by taking new loans or using credit cards.

This means the bigger risk for consumers may not be the festive loan itself, but adding fresh borrowing to ...