Personal Finance When taking a personal loan makes sense vs when it doesn’t Updated : April 23, 2019 11:10 PM IST It makes a lot of sense to closely evaluate the purpose of availing a personal loan before taking the plunge. The added caution will work in your favour as any laxity in repayment would mean debt creation and a damaged credit score. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.