Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
A co-applicant is a person who jointly applies for a loan with the primary borrower, sharing legal responsibility for repayment and often improving loan eligibility.
Someone who applies for the loan with you and is equally responsible for repaying it.
Unlike a guarantor, a co-applicant is usually a co-owner of the asset and their income can be clubbed to increase loan eligibility and, for home loans, unlock joint tax deductions.
Adding a working spouse as co-applicant on a home loan can raise eligibility from ₹40 lakh to ₹65 lakh.
Someone who applies for the loan with you and is equally responsible for repaying it.
Co-applicant (Loan) helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.