It is hard to say if it is a good idea to invest in a stock market as the market conditions could be risky and fluctuating. Having a good knowledge about the stock market is pre-requisite for investment. Whether you meet with profit or loss, you will have to repay your personal loan regularly without fail. Hence selecting the right shares and knowing about its features and risks are very important. 

Before applying for the personal loan, you need to check the eligibility criteria of the bank and proceed with the application. In some cases, the bank where you hold an account offer pre-approved personal loan offers. This saves a lot of time of loan processing and documentation. 

When you apply online, you will have to give your personal and income details and an executive from the bank will collect the documents and process the application. You can also visit the nearby branch with the required documents to apply for the loan.