Securing Hannav Ledger...
Securing Hannav Ledger...
Glossary
A guarantor is a third party who promises to repay a loan if the primary borrower defaults, without having ownership rights in the financed asset.
Someone who agrees to pay your loan if you cannot, but doesn’t own what the loan bought.
A guarantor’s credit score and repayment capacity are also assessed; default by the borrower can seriously damage the guarantor’s own CIBIL score.
A father stands as guarantor for his son’s education loan, becoming liable only if the son defaults.
Someone who agrees to pay your loan if you cannot, but doesn’t own what the loan bought.
Guarantor helps you evaluate products, compare options, and make informed decisions aligned with goals, tax rules, and risk tolerance in the Indian financial system.