Readers' Corner: Banking

Rajiv Anand, executive director, Axis Bank, answers your questions

I have an ongoing two wheeler loan. Can I still take a personal loan from the same bank? Will I have to pay off my earlier loan before I take the personal loan?
 
Personal loan is an unsecured product and can be taken for multiple end uses. A client can avail a personal loan even if he has a two wheeler loan outstanding. However, a thorough credit check of the customer will be done before a personal loan is sanctioned for the customer. This would involve checking customer income, existing obligations (if any), performance on existing loans and