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‘Simplify Finance for Everyone.’ This is the common goal of our team, as we try to explain any topic with relatable examples. From personal to business finance, managing EMIs to becoming debt-free, we do extensive research on each and every parameter, so you don’t have to. Scroll up and have a look at what 15+ years of experience in the BFSI sector looks like.
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‘Kitne Admi The?’
You know why Gabbar asked this question in Sholey? Anyone can fight with a man or two, but when they are action hunks like Dharmendar, ‘dar to lagega na boss!’ The same goes for loans. Your stress level depends on the number and the interest rate of the loans.
For example, Sameer, a 33-year-old sales manager from Jaipur, had three personal loans, a BNPL credit line, and two credit cards. On paper, he was doing fine. But every month, his EMIs went up to ₹38,500, which was nearly 60% of his salary.
I wish he knew ‘Kitne loans ho gaye’ before taking a new one. Here’s a snapshot of his monthly outflow:
Credits are easier to get than fresh air. Don’t be a fool and know what’s happening. Let me be your Sambha for today. I’ll answer ‘kitne, kyu aur kab’ in this blog. What’s your take on it? ‘Haan ki haan?’
‘Toh baat aisi hai ki’, while there’s no restriction on loan count, banks focus on your debt-to-income (DTI) ratio. Ideally, total EMIs should be under 36–50% of monthly income. That means if your income is ₹1 lakh, your DTI should be below ₹50,000.
Read More – Can You Get A Personal Loan While Paying Another? Here's The Right Way
A healthy DTI means you're less risky and more likely to get approved for future loans.
For example, Rachit earns ₹90,000/month and pays ₹15,860 as EMIs on a bike loan and a personal loan. When he applied for a third loan of ₹2.5 lakh to furnish his new flat, the bank rejected the application due to a high DTI ratio.
If my teacher had not checked my homework daily, I would have failed my 8th grade. A similar approach is adopted by the RBI. Since January 2025, the RBI requires lenders to report credit activity every 15 days, not monthly.
This real-time data helps banks immediately detect when you're applying for multiple loans. It also warns you regarding unnecessary EMI burden.
For example, Ramesh earns ₹90,000/month and took a ₹2 lakh personal loan on June 1. On June 15, he applied for a ₹1 lakh credit card. Due to the RBI’s new 15-day credit reporting rule, the second bank saw his fresh loan and rejected the card.
Here is what happened:
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Bank's View on Loan Burden
Will you give chocolate to a diabetic patient? No, right. Then why would banks approve another loan if your current utilisation is high? Instead of taking a third or fourth loan, consider debt consolidation.
First, manage your existing debts, improve your credit score and possibly you will get the new loan at reduced interest rates.
For example, Amit was paying a total of ₹49,000 on three loans per month. He had a low CIBIL score of 672 and a DTI of 46.6%. That is why he was denied a fourth loan. So, he opted for debt consolidation instead.
Now, you know that you can apply for as many loans as you want, but it's the bank that will approve them. Generally, keep the count low and manage existing debts. However, if you need money for investment, in your education or inventory, etc, then you may take the loan.
Also Read - Struggling with Multiple Loans? See How This Family Saved 50% in EMIs
Let’s understand it further by playing out some scenarios with the help of the following table.
Though there’s no fixed limit on personal loans but do not exceed a 50% debt-to-income ratio. Either you will face rejection or financial stress. Instead, consolidate your already existing debts, track EMI dates, and maintain credit discipline.
Make yourself eligible before applying for another loan; who knows, you may get it at a lower interest rate.
There’s no fixed limit, but more than 2–3 loans can strain your repayment capacity and affect your credit score.
Yes, but approval depends on income, credit score, and EMI-to-income ratio. Too many loans may lead to rejections or higher interest rates.
Yes. Each loan adds to your credit exposure.
Ideally, wait 6–12 months between loans. This builds a repayment record and prevents overlapping EMIs.
