Mumbai, October 13: There are many benefits of taking a personal loan. You can meet your urgent monetary need and repay later in installments is the first benefit. You can also fund your daughter/son’s marriage or pay her /his school fee by taking a personal loan. A personal loan provides funds irrespective of the end-use. These are unsecured loans given by banks to meet personal needs. One can avail of a personal loan based on their current earnings, credit history and so on. This helps in meeting any shortfall of funds for education purposes, household repairs or any other purpose.