Joint home loan Query

POSTED BY Donald Dsouza ON June 5, 2013 8:12 pm COMMENTS (2)


I am planning for joint home loan with the spouse (she is a co-owner). We have signed the agrement process and checked with the bank and we are eligible for the total home loan. My query are as below

1. As we are planning for home loan we want to take 70:30 ratio. So we will get proper income tax benifits. As my wife is co-owner and there is not share ratio is mentioned. While optiming for home loan can we get the loan ration as 70:30?


Donald Dsouza

2 replies on this article “Joint home loan Query”

  1. Dear Donald, as your property is not registered as of date, you can incorporate this %age ownership in the the title deed itself. Please take help of the builder’s advocate who ‘ll draft your title deed. Rest ‘ll be same as dear Ashish has stated above.



  2. Ashish Garg says:

    Dear Donald,

    I have taken the joint home loan as well and have done a loan sharing agreement on a Rs.100 stamp paper.

    In the agreement, you can define the ratio. Bank is not bothered about the ratio but are concerned about the EMI. The EMI can be deducted from a joint account or from one of the account. You can internally decide from whose account the EMI will go and other keep depositing his/her share every month to that account.

    The draft of the agreement can be find at below link.


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