What factors to consider before taking 2nd loan while repaying 1st?

Before taking a second personal loan while repaying an existing one, one should ensure that combined EMIs on both loans and other fixed obligations don't cross 50% of gross monthly income. A Fixed Obligation to Income Ratio (FOIR) above 50% deters lenders. Additionally, multiple personal loans increase the borrower's unsecured exposure and reduce the margin of error on repayment.