You can have 1-3 personal loans from the same lender at the same time, in most cases, depending on the lender. But there is no limit to how many personal loans you can have at once in total across multiple lenders.
Also question is, is it bad to apply for multiple loans?
Whilst it's possible to apply for several loans from different companies at the same time, there's a good chance it will ruin your credit score and your chances of getting a credit in the future. Multiple loan applications can actually make it more difficult for you to obtain credit.
Furthermore, can you apply for a loan if you already have one?
The short answer is, yes. You can most certainly take out a second personal loan but there are a few conditions that need to be met before it becomes reality. You still need to qualify for the second personal loan before a lender will disburse it into your bank account. All the same eligibility criteria still apply.
How long should you wait between loan applications?
What is the best reason to give when applying for a personal loan?
Some of the most common reasons for getting personal loans include home improvement, rent, electricity bills, medical expenses, funding a small business, and travel. Ability to pay over time: A personal loan will allow you to spend a lump sum of money and then pay it back over the course 12-60 months, typically.