With more and more women becoming financially aware as well as independent, taking up the responsibility of jointly managing the family’s finances has become a common practice for couples. Especially while deciding to purchase property and take a Union Bank Home Loan for your dream home, jointly doing so with your wife has a number of benefits. Let us explain to you the benefits and conditions for taking a joint home loan and property with your wife:
Joint home loan: Lower home loan interest rates for women
When you take a joint home loan with your wife being the applicant/co-applicant, most lenders will offer a lower Union bank home loan interest rate of up to 5 basis points (0.05%) on the standard applicable interest rate. Remember that to avail of this concessional rate, the wife must either be the owner/co-owner of the property and also the primary/co-applicant of Union bank …