In today's world, financial challenges are a common occurrence, and the days of simple living seem like a distant memory. Back in the 70s, 80s, and even the 90s, holidays meant visiting relatives, domestic workers were easy to find, and public transport wasn't as crowded. People rarely left their hometowns in pursuit of work. 

In such situations, personal loans have become a lifeline for many. But when taking a personal loan, it's essential to consider the loan tenure and your credit score, as they significantly impact the interest you'll pay. A higher credit score can get you a lower interest rate, and the loan tenure affects the overall interest paid. Shorter tenures mean less interest paid, but is that always the best choice?

Here's a simplified version of when it makes sense to choose a long-term personal loan with a longer tenure:

1. When You Need a Higher Loan Amount:

2. When Faced With Uncertainty:

 3. If You Are Self-Employed or In Business:

 4. When Your EMI Repaying Capacity Is Limited: