Did You Know?

There are many benefits of taking a joint home loan?

Tap to know the 5 benefits  of taking a joint home loan

Better Tax Benefits

Co-applicants can claim tax deductions up to Rs.1.5 Lakh on principal repayment and Rs. 2 Lakh on interest repayment.

Higher Loan Eligibility

The lender will consider the incomes of both the applicants in a joint home loan. Thus if the combined income is higher, the lender might give you a higher loan amount.

Lower  Interest Rates for Women Co-owners

If your co-applicant is a woman, the interest rate can be a few points lower than the regular home loan interest rates.

Burden Of Repayment Is Reduced

In a joint home loan, the pressure to repay the loan is not on one person alone. Co-applicants are equally responsible.

Lower Stamp Duty Charges for Women

Having a woman co-applicant can be beneficial as stamp duty charges are relaxed for women. It is 2% lower for women in most states.

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