New Delhi, April 10 -- Personal loans are immensely popular financial tools for addressing diverse needs and aspirations of borrowers such as medical emergencies, education, home reconstruction etc. Still, what happens if you have one personal loan already on your name and need another?

The answer for the same lies in your financial profile, credit score, repayment capacity and lender policies. This write-up is dedicated towards discussing the same in detail.

Yes, it is completely possible to apply for and take out a second personal loan while you are still repaying the first one. Still, approval for the same depends on several crucial factors:

If you are considering applying for a second personal loan, they you should follow the given...