Joint Home Loan
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The most important condition is that your co-applicant must be related to you or should be your family member.
The following tax benefits can be enjoyed by all the co-applicants:
- Under Section 80C: a deduction of up to Rs 1.5 lakhs on principal amount
- Under Section 24: a deduction of Rs 2 lakhs on the interest amount
- Stamp duty concession in case of female applicants
To know more, use our home loan tax benefit calculator
A joint home loan eligibility calculator will help you understand whether you can borrow a loan or not.
Kotak Mahindra Bank provides quick in-principle on applying for a joint housing loan.
Kotak Mahindra bank offers a joint home loan facility through which you can jointly apply for a home loan with a co-borrower. Here are the many advantages of Kotak Mahindra Bank’s Joint Home Loan:
● Improved home loan eligibility
● Helps you buy a bigger house
● Comes with higher tax benefits
● Loan repayment can be shared
If you are an NRI and are looking for a Home Loan, Kotak provides you just that. Check out our NRI Home Loans section.
If you are looking for renovating your home, you can do so by taking Kotak’s Home Improvement Loans
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Disclaimer (Things you should know):
For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
