Joint Loan

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Joint Loan

A loan in which two or more borrowers assume responsibility for repayment. That is, if one borrower stops paying, the others must pay on that borrower's behalf. A joint loan reduces the risk for the lender, which may reduce the interest rate. A joint loan also may be eligible for certain tax benefits.
References in periodicals archive ?
On the other hand, regarding financing major companies, El-Refaie said that the bank has agreed to participate in joint loans for several economic sectors, including electricity, oil, and real estate development, worth about EGP 4bn.
In October, Bloomberg has classified the NBE as the best among Egyptian and African banks in marketing, arranging joint loans and financing projects during the first three quarters of 2017.
An investigation showed that they had joint mortgage payments and utility bills, they had a number of joint loans, and Facebook entries depicted that she and her partner were living as a family with two children.
Adnan Yousif, Chairman of BAB said that the size of the joint loans between the Bahraini and Turkish Banks exceeds 2 billion USD, which shows strong financial activity between both parties.
It has also boosted creative modes such as syndicate grouping, acquisition syndicates, factoring syndication and syndicate+intrabank joint loans, driving the growth of syndicated loan market.
It's vital that couples know what their responsibilities are if they take out joint loans and that they try and agree how debts and bills should be paid if they split up.
The deal confirms NBE's leading position in financing oil sector over the past years and at the forefront of Egyptian banks in arranging joint loans and projects finance.
This deal confirms NBE's leading position in financing the oil sector and at the forefront of Egyptian banks in arranging joint loans and projects finance.
SBI's discounts for women are available on both individual and joint loans where the woman is the first borrower.
This is because joint loans are usually taken to increase the loan amount.
All other applications for joint loans often don't go through as the chances of disputes in such cases are higher.
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