Second Personal Loan While Repaying First? What You Need to Know

• You can take a second personal loan while repaying the first, as there's no rule against it.
• Lenders assess your credit score, existing EMIs, and monthly income; timely repayment of the first loan works in your favor.
• Your debt-to-income ratio is crucial; total EMIs exceeding 50% of monthly income is a red flag.
• A second loan triggers a hard inquiry, increasing unsecured exposure and potentially impacting future loan eligibility.
• Consider a top-up loan from your existing lender as a cleaner alternative, often with faster processing and better rates.