Joint Home Loan
If you are planning to buy a house, then you should apply for a home loan with your wife. That is, you apply for joint home loan. By doing this, you will easily save millions of rupees. Let us tell you that by taking a joint home loan with the wife, you will save in the stop duty from PMAY subsidy to the registry. Let’s know how you can take 5 big benefits by taking home loans with your wife.
These are 5 big benefits of taking joint joint with wife
Eligibility of more loan amount
You can take a large amount of loans on joint home loan with wife. If your wife is working, the banks will give loans easily. This will make it easier to buy a better and expensive house.
Interest rate discount
Many banks give a discount of up to 0.05% on interest rate for taking joint home loan with wife. In this way you will save millions of rupees throughout the loan period.
Double discount in tax
You and your wife can avail the deduction of ₹ 1.5 lakh (Section 80C) and ₹ 2 lakh (Section 24B) separately in joint home loan. That is, a total tax exemption of up to ₹ 7 lakh can be taken.
Stamp duty discount (on women’s joint owner)
In states like Delhi, Maharashtra, Himachal, women get 1% -2% stamp duty discount.
PMAY subsidy
Under the Pradhan Mantri Awas Yojana, a subsidy of up to ₹ 2.5 lakh is available only when the woman is co-owner. You can take this benefit by taking a home loan with your wife. This is only valid for those who buy home for the first time.
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