About Joint Home Loan
Purchasing a house is a one-time investment that involves a great deal of planning and funds. A home loan is usually the first and best option; however, you need a strong financial profile to qualify for it. For those who don’t cut with their profile alone, a viable alternative is opting for a joint home loan.
With this provision, you can apply with a co-borrower and enhance loan eligibility significantly. Since you share the responsibility of repayment, lenders are also likely to offer a higher loan sanction. However, there are only a few who can qualify as co-borrower. A co-borrower for a joint home loan must be either of the following.
- Parent
- Spouse
- Sibling
- Unmarried daughter
- Son
Features and benefits of a joint home loan
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Sizeable sanction
Avail a sizable sanction with the Bajaj Finserv Joint Home Loan to purchase the home of your dreams.
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Hassle-free tenor options
Opt for a comfortable repayment plan that ranges up to 30 years and ensure you never miss an EMI or compromise your savings plans.
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Speedy approval
No more long waits for funding as the funds get disbursed into your bank account with in just 3* days.
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Swift disbursal time
Once approved, get access to the entire sanction in an account of your choosing without a long wait, allowing you to use the funding as soon as you would like.
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Competitive rates
Enjoy competitive interest rates and reap the benefits of affordable EMIs.
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Easy refinancing benefits
Refinance an existing loan with Bajaj Finserv for better terms and avail a top-up loan of up to Rs. 1 crore for all your homebuying needs and expenses.
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Online loan management
Use the online account management facility to track important loan details and manage EMIs at any time.
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Tax benefits
Avail tax benefits on your under construction property up to Rs. 3.5 lakh annually on loan payments.
Eligibility criteria for home construction loan
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Citizenship
Indian
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Age
23 to 62 years for salaried individuals, 25 to 70 years for self-employed
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Employment status
At least 3 years of experience for salaried individuals, at least 5 years of business continuity for self-employed individuals
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CIBIL score
750 or higher
Documents required for a joint home loan**.
- 1 KYC documents: Passport, Driving License, Aadhaar Card, or Voter ID Card
- 2 Employee ID card
- 3 Salary slips of the last two months
- 4 Bank account statements for the last three months
You can also use the home loan eligibility calculator to check your loan eligibility online easily.
Joint home loan fees and charges
Bajaj Finserv ensures no hidden charges and maintains complete transparency on home loan interest rates. You can also use the Loan EMI Calculator to know the cost of borrowing before you avail funds and to plan your loan efficiently.
How to apply for a joint home loan with Bajaj Finserv
While you can apply offline, it is a lot quicker to fill the easy online application form and apply online. Here are the steps to follow.
- 1 Click on the ‘Apply Online’ option on the webpage
- 2 Enter your basic details
- 3 Verify your identity by entering the OTP sent to your mobile
- 4 Input the desired loan amount and tenor
- 5 Fill your personal, employment, financial and property-related data and submit the form
After completing the form, wait for our representative to contact you with further instructions within 24 hours* of making your application.
*Terms and conditions apply
**Indicative list only. Additional documents may be necessary.
