Yes, but only if your life is in order to meet loan repayment obligations.
If you find yourself borrowing money from friends or family members, then taking out a personal loan during this economic downturn may be a better option for you. With interest rates at their lowest levels, now is the perfect time to consolidate your debts and improve your credit rating. However, if you have not reviewed your financial situation recently then do so before considering any form of borrowing. (check out personal loan interest rate)
You must make sure that you are only borrowing the amount that you need. Keep the loan amount low for easy approval and easy repayment. You don't want to get trapped into a situation where you are paying high interest on the borrowed amount and clearing off the loan balance is taking longer than expected.
Many lenders do offer unsecured personal loans online so that you can apply for them directly from home or office. Always have your finances planned out before taking out a new personal loan.
