'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'

Many senior citizens 'underestimate the impact of inflation, taxation, health-related expenses, and the heavy premium they will have to pay on health insurance.'

Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.

Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.