Joint Housing Loan – Double the Power, Double the Eligibility
Introduction: Homeownership Made Easier Together
Buying a home is one of the biggest financial decisions of your life—and when done together, it can become easier, more affordable, and smarter. A joint housing loan allows two or more individuals, typically spouses or family members, to co-apply for a home loan. This increases the loan eligibility, offers dual tax benefits, and simplifies the financial burden by sharing EMIs.
Aditya Birla Housing Finance Limited (ABHFL) offers flexible joint loan options tailored for salaried and self-employed individuals. This guide explains how a joint loan works, who can apply, and how it pairs with other home financing solutions like a loan for house purchase, a microfinance personal loan, and a lease rental discounting loan.
What is a Joint Housing Loan?
A joint housing loan is a home loan taken jointly by two or more applicants. In most cases, both applicants are co-owners of the property and co-borrowers of the loan. Their combined incomes are considered for loan eligibility, which results in a higher sanctioned loan amount.
Key Features (ABHFL):
Higher loan amount due to combined income
Shared EMI responsibility
Dual tax benefits under Sections 80C and 24(b)
Co-ownership of the property is required
Why Opt for a Joint Housing Loan with ABHFL?
✔ Increased loan eligibility
✔ Easier EMI repayment with shared responsibility
✔ Both borrowers can claim tax deductions
✔ Suitable for married couples, siblings, or parent-child duos
✔ Available for salaried and self-employed applicants
By combining financial strengths, homeownership becomes more accessible and less stressful.
Eligibility Criteria (As per ABHFL)
Co-borrowers must be closely related (spouse, parent, sibling)
All co-borrowers must be co-owners of the property
Minimum age: 21 years
Income: ₹25,000+/month (combined or individual)
Employment: Salaried or self-employed
Credit score: 700+ preferred
Required Documents
KYC documents for all applicants (PAN, Aadhaar, Passport)
Address proof (Utility bill, rent agreement)
Income proof:
Salaried: Salary slips, Form-16, bank statement
Self-employed: ITRs, financials certified by a CA
Property documents: Sale agreement, ownership proof
How to Apply for a Joint Housing Loan
Check joint eligibility using the calculator
Fill out the joint application form with co-applicant details
Upload all KYC and income documents
Wait for approval, property verification, and disbursement
Loan disbursement can be made jointly or in stages, based on the construction or agreement terms.
Related Loans You Can Combine or Consider
1. Loan for House Purchase
This is the most common loan type offered by ABHFL for buying ready-to-move or under-construction homes.
Highlights:
Loan up to 90% of property value
Flexible tenure up to 30 years
Interest rates starting ~8% p.a.
Balance transfer + top-up options
2. Micro Finance Personal Loan
In case of additional financial requirements, a micro finance personal loan helps cover costs like furnishing, interiors, or home repair. While not branded specifically as microfinance, ABHFL offers small personal loan variants for eligible profiles.
Best for:
Low-income borrowers
Informal workers
First-time credit applicants
3. Lease Rental Discounting Loan
If you or your co-applicant own a leased property with regular rental income, you can avail a lease rental discounting loan.
Features:
Based on future rent receivables
Loans starting at 10.50% interest
Best suited for commercial property owners
Useful for raising funds for down payment or home upgrades.
4. Housing Loan Scheme in India
ABHFL supports affordable housing initiatives and special schemes:
PMAY-linked loan support
Plot + construction loan
Home extension and renovation loan
Loans for women applicants at preferential rates
These housing loan schemes in India can be combined with joint applications for higher benefits.
Smart Tips to Maximize a Joint Loan
Ensure both applicants have stable income
Maintain good credit scores on both profiles
Clearly define EMI contribution percentage
Use tax benefits wisely to maximize savings
Register co-ownership in property documents
FAQs
Q. Can siblings apply for a joint housing loan?
Yes, as long as both are co-owners of the property.
Q. Do both applicants get tax benefits?
Yes, both can claim deductions under Sections 80C & 24(b).
Q. Is co-ownership compulsory?
Yes, all co-applicants must also be co-owners.
Q. Can one applicant be a non-earning member?
Yes, but loan eligibility will depend only on the earning co-applicant.
Q. Can I apply jointly for a plot + construction loan?
Yes, ABHFL allows joint application for plot & construction loans.
Conclusion: Double Your Strength, Halve the Burden
A joint housing loan is not just a smart financial move—it’s a step toward shared dreams and secured futures. With ABHFL, applying together helps you qualify for better terms, higher amounts, and long-term benefits.
Pair your joint loan with other powerful options like loan for house purchase, micro finance personal loan, and lease rental discounting loan to fully finance your home journey.
Apply now at homefinance.adityabirlacapital.com and unlock your dream home together.
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