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India Today
27-07-2025
- Business
- India Today
Joint home loan or personal loan? What's smarter for young couples buying property
For many young couples, buying that first home is both a big dream and a huge responsibility. With property prices rising every year, most people simply can't pay the full amount upfront. That's where loans step should you go for a joint home loan or just take a personal loan to bridge the gap? Both are options, but they work very differently, and picking the wrong one could pinch your pocket more than you A JOINT HOME LOAN OFTEN WINSA joint home loan is often the wiser choice for couples looking to buy a house together. By taking the loan jointly, both partners' incomes are combined, which means you can qualify for a bigger loan and, in many cases, a better home. Sanjeev Arora, Director 360 Realtors, puts it simply: 'To begin with, comparing a home loan and a personal loan is like comparing apples to oranges. Personal loans usually carry almost double the interest rate. When it comes to a joint home loan, it's certainly better than taking it individually.'He adds, 'By merging incomes, it increases loan eligibility, enabling you to substantially increase your budget.'Backing this, Sahil Agarwal, CEO, Nimbus Realty, says, 'For young couples planning to buy a home together, a joint home loan often makes a lot more sense than turning to a personal loan. The interest rates are lower, tenures are longer, and there are tax perks that both partners can avail.'Joint home loans usually have lower interest rates than personal loans. Home loan rates in India today hover around 8–9% per year, while personal loans can easily touch 16% or REPAYMENT, EASIER EMISAnother huge plus of joint home loans is the repayment period. Home loans can stretch up to 20–30 years, which keeps the monthly EMI affordable. Personal loans, in contrast, usually need to be paid off within 1–5 years, making the monthly instalments much explains, 'EMIs are comparatively inexpensive with home loans because they have longer payback terms of up to 30 years. Personal loans, on the other hand, have shorter terms, which means that monthly payments are higher and the total interest load is larger.'DOUBLE TAX SAVINGSJoint home loans bring in another big win, tax benefits. Both partners can claim tax deductions of up to Rs 1.5 lakh each on the principal repayment under Section 80C, and up to Rs 2 lakh each on interest under Section 24(b). This can add up to handsome savings every year.'Both co-applicants are eligible to claim deductions... which maximises the family's total tax savings,' Arora A PERSONAL LOAN MIGHT HELPWhile a home loan is better for buying a house, a personal loan does have its place. 'When purchasing land or property that isn't qualified for a home loan, including unapproved plots or properties that are the subject of a legal battle, a personal loan might make more sense,' says adds, 'When rapid, collateral-free payments are required, it can also be used to cover registration fees, pay token amounts, or fill short-term liquidity shortfalls.'So, a personal loan can be a helpful short-term fix, but not a replacement for a proper home CREDIT SCORE MATTERS TOOOne important point young couples must remember is that a joint home loan affects both partners' credit scores. Make your payments on time and both scores improve. Miss EMIs and both partners' scores take a also impacts future borrowing power until the loan is cleared or well-serviced. 'Until this loan is paid back or sufficiently serviced, future loans may be restricted, which could have an impact on each borrower's eligibility for more credit,' warns TO BORROW SMARTLYTo avoid stress down the road, young couples should plan smartly. Borrow only what you can repay comfortably.'Young couples should assess joint repayment capacity realistically, choose a comfortable EMI-to-income ratio (ideally under 40%), and maintain an emergency fund covering 6–12 EMIs,' Arora advises. 'Opt for longer tenures to reduce monthly burden, avoid over-borrowing, insure the loan, and ensure transparent financial communication to prevent repayment stress in the future.'advertisementSahil Agarwal adds, 'Pooling incomes not only improves loan eligibility but also opens doors to better properties. That said, if you need quick, collateral-free funds for token payments or registration, a short-term personal loan might help bridge the gap.'Before signing any loan papers, sit together and tick off a few basics. Are both partners earning steady incomes? Is the property fully legal and approved for a bank loan? How much EMI can you comfortably pay every month without hurting other needs? And don't forget to keep enough savings ready for the down payment and extra costs like registration fees or WHAT'S SMARTER?In most cases, a joint home loan is usually the smarter path to buying a property. It brings lower interest rates, longer repayment, and double the tax perks, all adding up to better savings and peace of mind.A personal loan can help in a pinch for small, urgent payments, but not for big dreams like a your first house is a big milestone, so take your time, compare your options, and don't hesitate to ask your bank all the questions you need. It's your money, your home, and your peace of mind.- Ends
Business Standard
12-05-2025
- Business
- Business Standard
Nimbus Realty Extends CSR Support to Indian Deaf Cricket Team at World Deaf Cricket League 2025 in Dubai
NewsVoir Delhi NCR [India], May 12: Nimbus Realty, a listed real estate company based in Delhi-NCR, has extended its support to the Indian Deaf Cricket Team for participating in the prestigious World Deaf Cricket League 2025, held at The Sevens Stadium in Dubai. The international tournament brought together deaf cricket teams from across the globe, highlighting exceptional talent, resilience, and sportsmanship. As part of its CSR efforts, Nimbus Realty fully sponsored the Indian Deaf Cricket Team, helping them represent the country with confidence at the World Deaf Cricket League 2025 in Dubai. The tournament kicked off with an inaugural ceremony led by Prof. Souri Banerjee, Director of BITS Pilani, Dubai. The final prize distribution was attended by Mr. Satish Sivan, Consul General of India in Dubai. Four teams Jaguars, Tigers, Avengers, and Blasters, battled it out, with the Jaguars winning the league. The closing ceremony also saw participation from delegates representing Deaf Cricket associations from Japan, South Korea, the UK, and the UAE, adding to the global spirit of the event. Sahil Agarwal, CEO, Nimbus Realty, said, "We are honoured to support the Indian Deaf Cricket Team and stand alongside these remarkable athletes as they represent our country on an international platform. Their resilience, dedication, and spirit are deeply inspiring. At Nimbus Realty, we are committed not only to building world-class infrastructure but also to contributing to a more inclusive and empowered society." Nimbus Realty's support for the Indian Deaf Cricket Team underscores its broader commitment to social impact. By championing initiatives that empower individuals and celebrate diversity, the company continues to build not just physical spaces, but also a more united and inclusive India.
Fashion Value Chain
12-05-2025
- Business
- Fashion Value Chain
Nimbus Realty Extends CSR Support to Indian Deaf Cricket Team at World Deaf Cricket League 2025 in Dubai
Nimbus Realty, a listed real estate company based in Delhi-NCR, has extended its support to the Indian Deaf Cricket Team for participating in the prestigious World Deaf Cricket League 2025, held at The Sevens Stadium in Dubai. The international tournament brought together deaf cricket teams from across the globe, highlighting exceptional talent, resilience, and sportsmanship. Members of Indian Deaf Cricket Team at World Deaf Cricket League 2025 in Dubai As part of its CSR efforts, Nimbus Realty fully sponsored the Indian Deaf Cricket Team, helping them represent the country with confidence at the World Deaf Cricket League 2025 in Dubai. The tournament kicked off with an inaugural ceremony led by Prof. Souri Banerjee, Director of BITS Pilani, Dubai. The final prize distribution was attended by Mr. Satish Sivan, Consul General of India in Dubai. Four teams Jaguars, Tigers, Avengers, and Blasters, battled it out, with the Jaguars winning the league. The closing ceremony also saw participation from delegates representing Deaf Cricket associations from Japan, South Korea, the UK, and the UAE, adding to the global spirit of the event. Sahil Agarwal, CEO, Nimbus Realty, said, 'We are honoured to support the Indian Deaf Cricket Team and stand alongside these remarkable athletes as they represent our country on an international platform. Their resilience, dedication, and spirit are deeply inspiring. At Nimbus Realty, we are committed not only to building world-class infrastructure but also to contributing to a more inclusive and empowered society.' Nimbus Realty's support for the Indian Deaf Cricket Team underscores its broader commitment to social impact. By championing initiatives that empower individuals and celebrate diversity, the company continues to build not just physical spaces, but also a more united and inclusive India.
