Need a personal loan and a business loan? Or maybe a gold loan and an emergency loan together?
The short answer is yes — you can apply for two loans at once.
But the better question is: Should you?
Vizzve helps you understand the risks, strategies, and smart decisions behind managing multiple loans.
✅ Is It Legal to Apply for Two Loans?
Yes, it’s completely legal to apply for and even get approved for multiple loans — as long as:
You meet the income eligibility
Your credit score supports it
You’re able to repay both EMIs on time
⚠️ But there are serious risks you should consider first.
⚠️ Risks of Applying for Two Loans Simultaneously
❌ 1. CIBIL Score Drop
Every loan application triggers a hard inquiry, and applying for two at once can reduce your credit score by 5–10 points each.
If both are approved, the new debt burden can bring your score down even further.
❌ 2. EMI Overload
Two EMIs = Double the pressure. If your Debt-to-Income Ratio (DTI) crosses 40–50%, you become a high-risk borrower.
Banks and NBFCs may reject future loan or credit card requests.
❌ 3. Loan Rejection Chain Reaction
If one lender sees a fresh loan application in your credit report, they may assume your finances are stressed — and reject your second loan.
✅ When Applying for Two Loans Makes Sense
✔️ Different Types of Loans
(e.g., a small personal loan + a secured gold loan)
✔️ Separate Purposes
(e.g., rent support + business capital)
✔️ Strong & Stable Monthly Income
Your salary/income must support both EMIs without delay.
✔️ Good Credit Score (700+)
💡 Vizzve’s Smart Strategy for Multiple Loans
✅ Apply for a small loan first (with a short tenure)
✅ Repay it well for 3–6 months
✅ Then apply for a second loan — your good record will help with approval
This improves your credibility and prevents red flags on your credit report.
📲 How Vizzve Supports Multi-Loan Customers
Smart loan matching based on income
EMI calculator for combined affordability
Real-time credit health dashboard
Friendly support if repayment is tight
📊 EMI Combo Planner
| Income | EMI 1 | EMI 2 | Total EMI | Safe Zone? |
|---|---|---|---|---|
| ₹50,000 | ₹4,000 | ₹5,000 | ₹9,000 | ✅ Yes (~18%) |
| ₹30,000 | ₹6,000 | ₹5,000 | ₹11,000 | ❌ Risky (~37%) |
Keep combined EMIs under 30% of your income.
❓FAQs
Q1: Can I get two loans from Vizzve?
Yes, depending on repayment history and income, Vizzve may approve a second loan.
Q2: Will my credit score drop if I apply for two loans?
Yes, but only slightly — unless you default or delay EMIs.
Q3: Is it better to apply for one big loan instead of two small ones?
Often yes — one consolidated loan = lower interest, single EMI.
✅ Final Takeaway: Two Loans? Think Twice.
Applying for multiple loans isn't wrong — but doing it without a plan is risky.
Vizzve’s smart systems help you make the right call — with transparency and tools to manage repayment like a pro.
💬 “Don’t just get approved. Get prepared – with Vizzve.”
Published on : 28th July
Published by : SMITA
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RBI-Registered Loan Partner | 10 Lakh+ Customers | ₹600 Cr+ Disbursed