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Hello Vishal,
Good question asked.
As far as I know about loans. Loans are given against a security.
So, once your security is sealed with one bank until you pay and release it, how will you take another loan. What I mean is what security would you now present.
At the same-time, how will the other bank trust your credentials, as your first loan has not been cleared
Thus as such you would not be eligible for another loan.
But still I would suggest, meet the professionals at the bank itself and seek clarifications.
Wish you good luck...
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