Before Opting for a Personal Loan
By virtue of being an unsecured loan, personal loans have a very high rate of interest attached to it. So one should consider taking a personal loan only if you do not have an asset/security against which you can get a loan. For e.g. if you have an FD you can pledge, a secure loan might make more sense.
Many people know or at least have an idea about stocks. On the other hand, when stock loan is brought into the picture, a lot of people have uncertainties. The term, however, should not be a mysterious one.
If you are the owner of a new house and need some renovations done, a personal loan is definitely not the option to go for, instead opt for a home improvement loan! Whether you are an existing home loan borrower or not, your home can itself facilitate finance for this renovation.