Can the loan amount be increased after the personal loan is sanctioned?
Once a personal loan is sanctioned, increasing the loan amount is usually impossible within the same loan agreement. However, you can apply for a top-up or new loan if you need additional funds. Approval of these loans depends on your creditworthiness and repayment history. Some lenders offer you the option to refinance the existing loan to a higher amount, but this also requires a fresh loan application process and credit history evaluation.