In times of financial urgency, many Indian households turn to personal loans for various needs like home construction, vehicle purchase, higher education expenses, or medical emergencies. Explore more about personal loan schemes, structures, charges, drawbacks, and alternatives through insightful stories on ET. As consumer trends evolve, more individuals opt for personal loans to finance major purchases, often converting them into manageable EMIs. These loans bridge the gap in funding for homes, cars, education, and medical expenses, providing crucial support when needed.