A joint application loan (or joint personal loan) is similar to a traditional personal loan, but instead of only having one borrower, the loan has two. Both borrowers are equally responsible for the loan.
During the application process, the lender will assess both the borrower and co-borrower’s creditworthiness. If you have a less-than-perfect credit profile, a lender might be more likely to approve you for a personal loan if your co-borrower has excellent credit.
In the same way, your chances of qualifying for a larger loan amount may be higher if you apply for a joint personal loan, because a lender will be considering both you and your co-borrower’s incomes.