Can You Have Multiple Personal Loans at the Same Time?

You can get multiple personal loans at the same time, although approval depends on how each lender evaluates your income, credit history, and repayment capacity. There is no absolute limit set by regulations on the number of unsecured loans a person can hold. Instead, banks and financial institutions decide based on their internal risk assessments, especially your existing EMIs and ability to repay an additional loan without financial stress.

For borrowers who ask how many personal loans they can obtain or maintain across different lenders, the answer varies. Every bank or NBFC uses its own eligibility criteria, typically focusing on debt-to-income ratio, employment stability, and past repayment behaviour. If your current obligations are already high, lenders may reject a new application to avoid excessive credit risk.

Another important factor is understanding what taking multiple loans means for your finances. Each new loan increases your total EMI burden. If repayments become difficult or delayed, your credit score may suffer, affecting future borrowing opportunities and financial credibility.

In India, lending institutions generally do not impose a strict cap on the number of loans. However, practical limits exist through lender policies. Applicants with a strong credit profile, steady income, low outstanding debt, and consistent repayment history are more likely to secure additional personal loans successfully.