{"id":4920,"date":"2023-08-28T17:03:10","date_gmt":"2023-08-28T17:03:10","guid":{"rendered":"\/blog\/?p=4920"},"modified":"2025-02-04T14:29:43","modified_gmt":"2025-02-04T08:59:43","slug":"tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/","title":{"rendered":"Tax Benefits that Women Applicant Get for While Applying for a Home Loan"},"content":{"rendered":"\n

In India, until recent times, it was usual for women to leave the financial decisions to the men in the family. Even working women, whose income was at par with the men\u2019s income, used to rarely get involved in any financial decisions like investments, insurance, and taxation. With the situation in hand, buying an asset for women seemed to be a daunting task. However, with changing times, this scenario has also changed. Successive Governments have tried to introduce policies that encourage women in taking interest in the financial sector. Due to the undying efforts by Government, today, the situation has changed. Women have started investing in the financial sector and are also motivated to invest in the real estate sector. To add to this motivation, banks and financial institutes are also offering lending benefits, to encourage more women buyers.<\/p>\n\n\n\n

Know More<\/a><\/div>\n\n\n\n

Lower Rate of Interest<\/strong><\/p>\n\n\n\n

The first major deciding factor while applying for a home\nloan, is the lending rate or the interest rate. To encourage women buyers, the\ninterest rate is usually on a lower side than that for male buyers. Currently,\nmost banks are offering a discount of 0.05% on the interest rate for women\nborrower. Though the percentage appears to be on a lower side, when the cost of\nthe property is taken into consideration, this number plays a significant role!\nThe EMI will be lesser and thus, the burden on monthly budget will be lesser.<\/p>\n\n\n\n

Concession in\nstamp duty <\/strong><\/p>\n\n\n\n

Stamp duty is one of the money components that needs to be\npaid to the State Government, on any property transaction. Each state\u2019s stamp\nduty differs from the other, and the amount is decided by the State Government.\nMany Indian States offer lower stamp duty rates when a woman buys property as a\nsole buyer or as a co-owner. The stamp duty charges for women may be 1-2% lower\nthan the rate applicable for men. Also, if the property is jointly registered\nin the women\u2019s name, discounts can be availed.<\/p>\n\n\n\n

Higher Chance of\nGetting a Loan <\/strong><\/p>\n\n\n\n

All loan applicants must follow a fixed process while applying for the home loan. This process involves the eligibility check that every applicant must clear, to make sure he\/she can avail the home loan. To make sure the eligibility check phase passes smoothly, the lender must submit all the required documents<\/a> and proofs, to prove a satisfactory credit score. Generally, loans applied by women lenders are less likely to be rejected, as compared to their male counterparts. Women are considered to be more regular in replaying the loan, and thus are likely to get a home loan sanctioned as compared to the male applicants. With digitization being on top of the charts this year, many banks and financial institutions have taken their entire loan application process online. Thus, it is easier to apply for home loan for women<\/a> online, sitting in the comfort of their home or office.<\/p>\n\n\n\n

Tax deduction<\/strong><\/p>\n\n\n\n

Joint home loan not only allows you to share debt burden but also share the benefits. A woman home loan<\/a> applicant can claim a tax deduction of Rs 2 lakh, as per the latest Union Budget 2017, on the interest paid. Also, if the home loan is jointly applied by a couple, then both can avail tax benefits. <\/p>\n\n\n\n

As per the latest schemes launched, one of which is the Poverty Alleviation Scheme, <\/strong>the woman\u2019s name must be included in the land titles of the plot that the Government allocated. In another scheme titled, Housing for All Mission, it is mandatory to have a woman co-borrower or primary borrower for the affordable housing schemes.<\/p>\n\n\n\n

Apply for Affordable Housing Loan<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

In India, untilrecent times, it was usual for women to leave the financial decisions to the men in the family.<\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":4921,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4920","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-home"],"yoast_head":"\nTax Benefits that Women Applicant Get for While Applying for a Home Loan - TATA Capital Blog<\/title>\n<meta name=\"description\" content=\"Know the tax benefits women can avail when applying for a home loan, including lower interest rates, stamp duty concessions, and tax deductions.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax Benefits that Women Applicant Get for While Applying for a Home Loan - TATA Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Know the tax benefits women can avail when applying for a home loan, including lower interest rates, stamp duty concessions, and tax deductions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-28T17:03:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-04T08:59:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/tax-benefits-for-women-applicant.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"348\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/\",\"name\":\"Tax Benefits that Women Applicant Get for While Applying for a Home Loan - TATA Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2023-08-28T17:03:10+00:00\",\"dateModified\":\"2025-02-04T08:59:43+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Know the tax benefits women can avail when applying for a home loan, including lower interest rates, stamp duty concessions, and tax deductions.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tatacapital.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Tax Benefits that Women Applicant Get for While Applying for a Home Loan\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/\",\"name\":\"TATA Capital Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\",\"name\":\"Tata Capital\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"caption\":\"Tata Capital\"},\"sameAs\":[\"https:\/\/tata-blog.osian.dev\/blog\"],\"url\":\"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Tax Benefits that Women Applicant Get for While Applying for a Home Loan - TATA Capital Blog","description":"Know the tax benefits women can avail when applying for a home loan, including lower interest rates, stamp duty concessions, and tax deductions.","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_US","og_type":"article","og_title":"Tax Benefits that Women Applicant Get for While Applying for a Home Loan - TATA Capital Blog","og_description":"Know the tax benefits women can avail when applying for a home loan, including lower interest rates, stamp duty concessions, and tax deductions.","og_url":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/","og_site_name":"TATA Capital Blog","article_published_time":"2023-08-28T17:03:10+00:00","article_modified_time":"2025-02-04T08:59:43+00:00","og_image":[{"width":770,"height":348,"url":"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/01\/tax-benefits-for-women-applicant.jpg","type":"image\/jpeg"}],"author":"Tata Capital","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tata Capital","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/","url":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/","name":"Tax Benefits that Women Applicant Get for While Applying for a Home Loan - TATA Capital Blog","isPartOf":{"@id":"https:\/\/www.tatacapital.com\/blog\/#website"},"datePublished":"2023-08-28T17:03:10+00:00","dateModified":"2025-02-04T08:59:43+00:00","author":{"@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a"},"description":"Know the tax benefits women can avail when applying for a home loan, including lower interest rates, stamp duty concessions, and tax deductions.","breadcrumb":{"@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.tatacapital.com\/blog\/loan-for-home\/tax-benefits-that-women-applicant-get-for-while-applying-for-a-home-loan\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tatacapital.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Tax Benefits that Women Applicant Get for While Applying for a Home Loan"}]},{"@type":"WebSite","@id":"https:\/\/www.tatacapital.com\/blog\/#website","url":"https:\/\/www.tatacapital.com\/blog\/","name":"TATA Capital Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a","name":"Tata Capital","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","caption":"Tata Capital"},"sameAs":["https:\/\/tata-blog.osian.dev\/blog"],"url":"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/"}]}},"featured_image_url":"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/01\/tax-benefits-for-women-applicant.jpg","_links":{"self":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/4920","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/comments?post=4920"}],"version-history":[{"count":4,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/4920\/revisions"}],"predecessor-version":[{"id":43722,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/4920\/revisions\/43722"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media\/4921"}],"wp:attachment":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media?parent=4920"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/categories?post=4920"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/tags?post=4920"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}