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Question: Do joint home loan applicants get a lower interest rate compared to individual applicants?
Answer: Your bargaining capacity with the bank or the non banking financial company offering you a home loan goes high when you opt for a joint home loan. With a joint loan, the overall repayment capacity goes high allowing you to leverage it against a lower interest rate or other discounts with the banks. Banks and NBFCs are more than happy to facilitate discounted interest rates for genuine buyers with a good repayment capacity.
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