Yes, you can get a personal loan even after taking a home loan, provided you satisfy the lender’s eligibility criteria and repayment capacity. There is no legal bar on applying for and getting a personal loan simply because you already have an existing home loan.
Is it Possible to Get Personal Loan after Home Loan?
Banks and NBFCs allow multiple credit products as long as your overall financial profile supports repayment of all EMIs.
Having a home loan does not disqualify you from personal loan eligibility, but lenders look closely at your debt-to-income ratio, credit score, income stability and repayment history before approval.
The debt-to-income ratio measures how much of your monthly income goes toward loan EMIs. Ideally, this should stay below about 40 to 50% of your income for easier approval of both personal and home loans.
A strong credit score (typically 700+) and on-time EMI track record on your home loan help lenders view you as a lower-risk borrower, increasing chances of personal loan approval at favourable interest rates.
Additionally, applying jointly with a spouse or family member (adding their income) can strengthen your application by showing higher combined repayment capacity.
You might also consider options like a loan balance transfer or refinancing if your debt obligations are heavy; these can sometimes improve your cash flow and credit profile before applying for another loan.
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Can I Get Personal Loan after Home Loan?
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2026-01-13T10:06:18+00:00 2026-01-13T10:06:20+00:00Comment
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