New Delhi : Everyone dreams of being able to live a peaceful life in their own home. To fulfill this dream, people save every penny for a long time. However, even after doing this, it becomes very difficult to buy a house even by paying a lump sum amount. In such a situation, it becomes necessary to take the help of home loan to fulfill your dream of buying or building a house. Today any bank easily offers home loan option.
If you are also thinking of taking a home loan, then you can also consider a joint home loan. This loan is more easily available than a normal home loan. The amount of this loan can also be higher. If both husband and wife are employed, then taking a joint home loan can prove to be the best option for you.
With whom can you take joint home loan?
You can take a joint home loan with any member of your family. But if you apply as a female applicant, it can benefit you a lot. You can also take a joint loan as husband and wife with mutual consent. If the male loan taker is not married, then his parents or sister can also be made an applicant.
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Tax exemption will be available on joint loan
If you want to take a joint home loan with your wife, then both of you can also claim income tax benefits under Section 80C. If both of you make its prepayment, you can also get separate tax exemption of Rs 2 lakh on the interest amount. Not only this, you can also get a maximum tax exemption of Rs 1.5 lakh on the principal amount of this loan in 1 year.
Home loan will be available at affordable rates
Many banks and NBFCs of the country can provide home loans at concessional interest rates to women loan holders. At these rates you can get a reduction of up to 0.05 percent from the normal rates. Not only this, if the home loan is being taken in the name of a woman, then she can also get exemption in stamp duty and registration fees.
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