I and my father want to jointly take up a home loan. Together our gross salary is 12 lakh per annum.

If we are considering your Dad’s income for Loan eligibility calculation then the maximum tenor that you can avail will be limited to the retirement age of your Dad. So you will get a Max of 8 year tenor for your home loan. Some banks can give you a tenor extension of 2 years and make the total tenor to 10 years, cases like these are subject to deviation and basis the profile of the customer the banks will be willing to look at a higher tenor as well. For ex If your percentage contribution to 12Lks is more than 50% then we can always negotiate basis future increments that will happen in your salary over the next 8 years which will be substantial enough for you to handle the EMI independently even after your fathers retirement. But as we have specified since this is a deviation the case has to be presented to the credit officer separately for consideration or else as per the standard policy you can only get 8 to 10 years Max