Yes — you can have more than one personal loan at the same time. There is no official limit on how many personal loans you can have at the same time, but lenders will evaluate your overall financial situation before approving another loan.
What does it mean to have two personal loans at once?
You can have two active personal loans simultaneously if you qualify with each lender. Lenders typically review your income, debt obligations, and credit profile before approving a new loan on top of an existing one.
How do lenders review applications when you already have a loan?
Lenders consider your existing debts — including any personal loans — when you apply for another loan. They’ll look at things like:
- Debt-to-income ratio (DTI): How much of your income is already committed to debt payments.
- Credit history: Your credit score and payment history.
- Income stability: Whether you have enough income to support both monthly payments.
You generally need to demonstrate that you can afford the additional loan payments.
Are there limits from individual lenders on multiple loans?
Some lenders limit how many personal loans you can have with them at the same time. Others may allow multiple loans if you meet criteria such as on-time payments on an existing loan and minimum time between applications. Lender-specific limits vary.
Disclosure:
This content is general in nature and provided for informational purposes only. This content is not specific to Upstart, except where explicitly stated. This content may contain references to products and services offered through Upstart’s credit marketplace. Upstart is not a financial advisor and does not offer financial planning services.
Can I get 2 personal loans at the same time?
