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4/27/21

Tips:If home loan is not available then take joint home loan, income tax exemption and women co-applicant will get low interest loan.





Tips:If home loan is not available then take joint home loan, income tax exemption and women co-applicant will get low interest loan.







It is often the case that you apply for a home loan. But your loan application is rejected because you do not have a profile. In this case, a joint home loan can solve your problem. 








Applying for a joint home loan increases your chances of getting a loan approved. This is because the responsibility to repay the loan in a joint loan rests with two or more people, which reduces the risk of the loan sinking. 



Getting a Loan Easily
Often you have difficulty getting a loan due to low income, loan to income ratio (true fixed obligation to income ratio) or lack of proper credit score. In such a case, attaching another person as the applicant increases the eligibility for the loan.
When you take out a joint home loan with someone who has a strong credit score and a good ability to repay, it is easier to get a loan. Apart from this, you can get a higher loan by taking a joint home loan as the bank will provide the loan keeping in view the income of both the applicants.



Alsdo read c💥પ્રધાનમંત્રી આયુષ્યમાન યોજનામાં તમારુ નામ છે કે નહીં તે ચેક કરો અહિયાંથી


Both the borrowers will be able to avail various income tax benefits by applying for a joint home loan. However, they will be able to take the tax benefit separately even if they have both the app and the owner.

Women co-applicants get low interest loans
Many lenders offer women co-applicants different interest rates for home loans. This rate is usually about 0.05 percent (5 basis points) lower than the normal rate. To take advantage of this exemption, a woman must own or jointly own a property. Most banks consider a woman as a co-applicant only if she is a property owner or joint owner.

Who can take a joint loan?
If there are two earners in the family and the property you have bought has the names of other members of the family, such as mother-son, mother-daughter, father-son, father-daughter or spouse, excluding siblings, the bank may require you to open a joint account. Can say for. Most banks do not offer joint home loans with siblings, while joint home loans with parents and spouses are easily available.

These banks are giving loans at low interest rates

BankInterest rate (%)
Kotak Mahindra6.65
ICICI6.70
HDFC Bank6.70
Axis6.75
Union Bank of India6.80
Punjab National Bank6.80
Bank of Baroda6.85
Bank of India6.85
SBI6.90
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