Taking home loan for your spouse can bring money benefits.
Get more benefits for women, banks offer loans at lower rates. This is a golden opportunity for those who want to buy a home.In ICICI bank had been reduced interest rates on loans up to RS 30 lakh. The benefit to women borrowers will be even greater. ICICI Bank provides loan for salaried women with rate of 8.35 % but others will charge 8.4 % interest. SBI, HDFC Bank also charges similar rates.
Banks aims to encourage working women to take out loans. Stamp duty is a fixed amount of property value. Women get 1 – 2 % discount on stamp duty for buying a property. A woman who takes a loan of Rs 30 lakh can save Rs 30000 to 60000.
Even if husband and wife apply for housing loan together, there are certain discounts. Tax deduction is available at a fixed rate of loan repayment. You and your wife are co – owners of the house of home loan, you will surely get tax rebate on the home loan payments.
Banks also have women friendly products. For tailored to meet the special needs to women. It can provide savings for long term interests.