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Joint Home Loan

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15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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Competitive Interest Rates

Starting 7.10% p.a.

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Handpicked Home Loan Offers

Offers from 25+ Banks & HFCs

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HDFC Bank
Min Loan Amt. ₹15L
Rate of Interest7.2% - 13.2%
Tenure uptoUpto 30 Years
Processing Fee₹ 10,000
ICICI Bank
Min Loan Amt. ₹15L
Rate of Interest7.65% - 9.80%
Tenure uptoUpto 30 Years
Processing Fee₹ 10,000
Axis Bank
Min Loan Amt. ₹30L
Rate of Interest8.35% - 11.90%
Tenure uptoUpto 30 Years
Processing Fee₹ 14,000

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Why Choose Paisabazaar?
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Compare & Choose the Best Offer

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Easy & Transparent Borrowing Process

How Can I Apply for a Home Loan Online?

Get up to ₹5 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

Apply Now

Co-applicant versus co-owner

It is important to understand the difference between a co-applicant and a co-owner.

  • A co-applicant is someone who applies for a loan jointly with the primary borrower and shares the responsibility of loan repayment but may or may not have ownership in the property or asset.
  • On the other hand, a co-owner is someone who has a legal share in the ownership of the property but may not necessarily be involved in the loan repayment unless they are also a co-applicant.

Key Benefits Of Taking A Joint Home Loan

Higher Loan Amount:

Including a co-applicant enhances your overall repayment capacity, making you eligible for a higher loan amount.

Tax Benefits:

Both co-applicants can individually claim tax deductions on principal and interest payments under Sections 80C and 24(b) of the Income Tax Act.

Shared Financial Burden:

The EMI gets divided between the applicants, reducing the repayment pressure on a single person.

Better Loan Approval Chances:

A joint application, especially with someone having a stable income and good credit score, can improve the chances of loan approval.

Documents Required for Joint Home Loan

  • No restrictions in terms of end usage of loan proceeds
  • No requirement for providing additional collateral/security, apart from the one pledged for the existing home loan
  • Lower interest rates than personal loans
  • Quick loan disbursal process as the lender already has the KYC details and documentation of the pledged collateral of their existing home loan borrowers.

Joint Home Loan Eligibility

  • Joint home loan eligibility depends on the relationship between co-applicants.
  • Any two or more individuals can apply jointly to purchase a home.
  • Valid co-applicants include spouse, siblings, or parents.
  • A maximum of six people can apply together under one home loan application.
  • Most lenders (banks, NBFCs, HFCs) require co-applicants to also be co-owners of the property.
  • Ensure the co-ownership clause is included in the property agreement to qualify for a joint home loan.

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Who can be a Co-borrower or Co-applicant?

An immediate family member can be your co-applicant or co-borrower. He/she should be salaried or self-employed. NRIs are also eligible to be co-applicants. Below can be your co-borrower:

  • Spouse
  • Parent
  • Sibling

Note: A brother can act as a co-applicant for a Home Loan if he is staying with the main applicant and intends to do so in the new property. However, a brother, acting as the main applicant, cannot choose his sister as a co-applicant. Furthermore, a female applicant cannot choose her sister as a co-applicant.

Myth vs Fact Format

Myth 1: Only married couples can apply for a joint home loan.

Fact: Not true. Siblings, parents, children can be co-applicants, subject to lender policies.

Myth 2: Both co-applicants must be co-owners of the property.

Fact: Yes, for claiming tax benefits, co-applicants must also be co-owners. But technically, a person can be just a co-applicant without ownership.

Myth 3:Adding a co-applicant guarantees loan approval.

Fact: While it improves your chances, approval still depends on income stability, credit score, and repayment capacity of both applicants.

Myth 4: Only one person can claim tax benefits on a joint loan.

Fact: All co-applicants who are co-owners and contribute to EMI payments can individually claim tax benefits.

Myth 5:A joint home loan means equal EMI contribution.

Fact: EMI sharing can be in any ratio, as mutually decided, and does not need to be 50:50.

How Can I Apply for a Home Loan Online?

Get up to ₹5 Crore in 5 Simple Steps

Step 1: Enter your mobile number in the application form.

Step 2: Verify using the OTP sent to your mobile number.

Step 3: Enter details related to your loan requirements.

Step 4: Provide your personal and employment details.

Step 5: Compare offers and apply for the best-suited loan.

Apply Now

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FAQs

Who is eligible for a joint home loan?

Generally, immediate family members can apply home loan together, such as spouses, parents, siblings, or children. Up to 6 co-applicants are usually allowed, depending on the lender’s policies.

Can we get a joint home loan if one person’s CIBIL is bad?

Yes, but the chances of approval may reduce, and the bank could offer a lower loan amount or charge a higher interest rate. The applicant with a good credit score can help balance the risk, but lenders still assess all applicants’ repayment histories.

Who pays EMI in a joint home loan?

All co-borrowers are legally responsible for repaying the loan. You can mutually decide how to split the EMI, but if one person defaults, the others must cover the repayment to avoid penalties.

What is the age limit for a joint home loan?

Usually, the primary applicant must be at least 18–21 years old. The maximum age at loan maturity is typically 60–70 years, and lenders consider the age of all co-applicants while fixing the loan tenure.

What is the difference between a co-owner and a co-applicant?

A co-owner has a legal share in the property. A co-applicant helps in repaying the loan but may or may not be a co-owner. However, most banks require all co-applicants to also be co-owners in home loans.

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What our customers say

Time saving process

Office ke chalte jyada samay nahi nikal pata tha. Paisabazaar ke online process ki wajah se na hi mene banks ke rates compare karliye ghar bathe balki mera loan application aur disbursal bhi ghar bathe hi ho gaya...bank jana hi nahi pada...

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Pradeep SinghJan 7, 2026

Kam rates pe loan mila

Paisabazaar se mujhe bahut kam rate pe loan mil gaya...isse mere budget pe jada asar nahi pada aur jald hi mera apna ghar ho jayega..

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Nidhi SharmaJan 6, 2026

eligibility check ho jati hai free

me home loan lene ka soch raha tha uske liye mene pehle paisabazaar app se free me apni eligibility check ki..usse mujhe pata chala muje kya cheeze improve karni hai aur fir mera loan jaldi approve ho gaya.

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Shikhar SahuJan 5, 2026

Home loan mila yaahaan par

Mujhe home loan chahiye tha aur yahaan par sahayta kiya inhone aur loan mila. Pehla loan tha mera lekin sab ache se ho gaya.

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Prem Prakash PandeyDec 7, 2025

Home loan here

I took home loan here and they helped me in every step specially in collecting and submitting documents at the time of approval.

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Chandan SinghDec 1, 2025

Got the best home loan interest rate

I was confused and did not have so much time to carry out all the research, so I logged in to Paisabazaar’s portal and was able to see the home loan options I was eligible for. With the assistance of Paisabazaar’s experts, I was able to find the home loan that offered the rate of interest I could afford. Thank you Paisabazaar!

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Anu BhatnagarSep 10, 2021

Excellent Home Loan Service by Paisabazaar

Ended up taking an ICICI Home Loan and I think it was one of the best decisions I ever made. I thank Paisabazaar for helping me out and answering my questions with so much patience.

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KJ ThomasSep 10, 2021

Had a great experience with Paisabazaar

I have always heard my friends talking about how tedious it was for them to avail a home loan and decide the most suitable option. But with the help of Paisabazaar, I was able to compare several home loans and opt for the one that suited my needs. I am happy that I considered Paisabazaar for helping me.

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Ritesh SharmaSep 10, 2021

quick and easy home loan process

I had never thought that applying for a home loan could be so easy. The entire process was online and I didn’t have to go anywhere for application or documentation of my home loan. Paisabazaar experts helped me navigate through the process and later the bank collected my documents and everything was quick and seamless.

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Rupanjali MishraSep 3, 2021

Satisfied experience with Paisabazaar

I am satisfied with my home loan experience with Paisabazaar. I could easily compare different home loan options and apply for the home loan. Their customer care team also called me to confirm all the details and soon after the bank contacted to take the process forward. The process was really smooth.

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Soumil KhannaSep 3, 2021
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