How to Avail Tax Benefit on Joint Home Loan?
                     How to Avail Tax Benefit on 
Joint Home Loan?
What Is Joint Home Loan?
A joint home loan is a housing loan 
which is taken by family members, 
including spouses, parents, siblings 
and/or offspring with equal financial 
responsibility. The eligibility for the loan 
depends on your age, income levels and 
your loan history. 
Major Benefits of Joint Home Loan
A loan that is availed with a co-applicant 
eligible for higher loan amount who can 
share the financial burden equally is 
always a good Idea. Not only does the 
EMI get split between 2 people but it 
also invites 5 major advantages. Read 
the presentation carefully to know 
about the Joint Home loan tax benefits.
● Easy Approvals
When you opt for a co-applicant to join you in on 
you home loan journey, the application process 
becomes easier and quicker. This is because the 
loan will be paid off with income of more than one 
person, which drastically reduces the chances 
defaulting. Seeing this, the insurance company is 
more than ready to approve your loan in a speedy 
manner.
● Better Loan Amount Eligibility
The more the monthly income, the higher the loan amount 
you can avail with your home loan. If your loan amount 
eligibility is around 25 lakh, with a co-borrower you can get 
amounts in the range of 50 lakh and even higher if their 
salary is higher than yours.
● Credit Scores Don't Matter So Much
If you have a not-so-good credit score, then going in for a joint home loan is 
a good option, especially if you co-applicant has a Good Credit Score.
● Lowest Interest Rates
Taking the home loan dive with a co-applicant could mean 
Lowered Interest Rates. And a lowered interest rate could 
mean loads of saving over the tenure of your home loan.
● Double the Tax Benefits
When you opt for a home loan with a co-applicant, the 
tax benefits are applicable for both you and your co-
borrower. In a way, this doubles the amount you can save 
through taxes. If the tax benefits of a home loan are 3.5 
lakh against principal repayment interest paid for a single 
individual, with a co-applicant you can save up to 7 lakh 
annually.
Apply for Joint Home Loan Today
Address - Office No.101, 102 & 103, 2 North Avenue,Maker Maxity, 
Bandra Kurla Complex, Bandra (East), Mumbai
Visit us  -  https://www.grihashakti.com/
Call us - 1800 102 1003
Email us - [email protected]