There is no denying the fact that life is just unpredictable and you can't imagine what lies ahead. Now suppose, you are faced with a cash crisis and don't see any help. What will you do? And you also don't have collateral or guarantor to pledge with the bank to avail a bank loan. And what will you do at a time, when you need urgent funds? The answer lies with personal loans.

You heard it right. For applying this bank loan, you don't need any collateral or guarantor. Banks even don't ask for the purpose for which the applicant wants the loan amount. Be it home repairs, wedding expenses or medical expenses, personal loans act as a pain-reliever. And since there is no need for any collateral, it saves you a lot of time. Let's take the case of HDFC personal loans which you can avail with complete ease and comfort. The bank also promises minimal documentation and hassle free loan process.

Not just a personal loan, banks in India also offer a wide range of other loan products such as home loan, car loan and education loan. Now-a-days, banks keep on introducing new and innovative banking products and services to retain their existing customers and also attract the new ones. Now, if you are a person who wishes his son/daughter to attend the Harvard business school or any other reputed university and the only obstacle is cash, then an education loan is sure to take your all worries away.

However, before you sign up for a bank loan, make a detailed plan as to how much amount you need from the bank and how you would pay back the amount on time. A little chat with close friends and relatives may also turn out to be an eye-opener for you.