Personal Loans can help you in a situation when you need a lot of money in short time. They are easily accessible and reasons are not for getting a loan. The good reasons to get personal loan is that it can be used for clearing the debt and saving your CIBIL. We never care for money when our loved ones are not in good health, so the loan is easily affordable to struggle with the emergency expenses. Sometimes a good reason to get personal loan is for home renovations. Moving to a new place can be quite an expensive affair and to deal with it, personal loan is good option. If there are many good reasons for Getting a Personal Loan, there are fair share of bad ones too. If you have to take personal loans just to partake in gambling then it can never be a good idea. Your own start-up can often be a life changing experience but you should avoid taking personal loan for investment. A loan comes with a big responsibility and if you default or miss repayment, it can have repercussions on your credit score.