Yes, you can request to increase your personal loan EMI amount, but it isn’t automatic. You can accomplish this either by making additional principal payments (part-prepayment) to shorten the loan tenure or by formally asking your lender for a duration reduction, which will result in higher EMIs. But it completely depends on your lender’s policy and approval.
Most banks allow adjustments to your EMI or loan tenure on request, subject to credit assessment and internal rules. For example, Kotak Mahindra Bank lets borrowers inform the bank in writing about desired new EMI or tenure, after which the lender reviews and, if approved, revises the loan account accordingly.
Here’s how increasing your EMI usually works:
You typically need to notify the bank in writing (sometimes via online banking or a branch form) to change your existing EMI to a higher amount.
The bank evaluates your credit history, income stability, and repayment capacity before approving the change. Only with approval will the EMI be increased.
If granted, the bank provides a revised repayment schedule reflecting the higher EMI. This usually shortens your loan tenure because you are paying more principal each month.
Some lenders may levy rescheduling or administrative charges to process an EMI change request. For instance, Kotak charges a rescheduling fee (e.g., 1% of outstanding principal).
If your aim in increasing EMI is to close the loan faster or reduce total interest cost, consider making part prepayments. Paying extra toward principal lowers your outstanding balance and can reduce either the loan tenure or future EMIs, depending on the bank policy.
I hope this answers your query about whether can I increase my personal loan EMI amount.
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Can I Increase My Personal Loan EMI Amount?
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2026-01-13T10:09:51+00:00 2026-01-13T10:09:54+00:00Comment
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