Taking multiple personal loans such as three loans from different banks is technically possible as there is no legal prohibition against doing so. So, to answer your query: can I take 3 personal loans from different banks? I must say that it is possible but the approval depends heavily on your credit profile, existing debt obligations and each lender’s internal policy.
Is it Possible to Have Three Personal Loans?
It is possible, but,
Lenders will assess factors like your credit score (for example, a score above 700 to 750 is preferred), your monthly income and critically your debt-to-income (DTI) ratio (i.e., the proportion of your income already committed to EMIs).
If you already have outstanding personal loan(s), a new bank will look at whether your total EMIs (including the new loan) leave sufficient residual income to service the debt.
Also, you may be eligible for multiple loans if your repayment track record with existing loans is clean, and if the additional EMIs don’t push your DTI beyond acceptable thresholds.
That said, there are risks and caveats. Holding three personal loans from different banks increases your overall monthly financial burden; missed or delayed payments on one loan can drag down your credit score and hamper future borrowing.
In addition, each loan application triggers a hard credit enquiry and adds to the number of open accounts, which may be viewed negatively by credit bureaus.
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Can I Take 3 Personal Loans from Different Bank?
pragati
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3 months
2025-10-30T17:44:21+00:00 2025-10-30T17:44:23+00:00Comment
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