Can I increase my personal loan amount after approval?

Personal loans are one-time disbursements, unlike lines of credit or credit cards where you can borrow up to a limit on demand. Once funded, the loan amortises according to the original schedule.

If you anticipate needing more cash within the loan's first year, consider either taking a slightly larger loan upfront (and paying down the excess if not needed), or opening a personal line of credit instead of a fixed-amount loan. PLOCs at credit unions and some online lenders offer revolving access at lower APRs than credit cards.