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Home > Videos > Guarantor For Loan - Things to Know Before You Sign as a Guarantor for a Loan | CNN News18 | EP :307

Guarantor For Loan - Things to Know Before You Sign as a Guarantor for a Loan | CNN News18 | EP :307

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Banks normally ask for a loan guarantor in case the borrower's credit history is weak or if he does not have enough income for loan eligibility. This is done with the intention of ensuring that money lent by the bank is recovered. If a borrower defaults on the loan repayment, the bank first contacts the borrower in order to recover the amount. In case the borrower is unable to repay, the bank will contact the guarantor to settle the dues. If you are planning to sign as a Guarantor for your friends or anybody's loan you must watch this video. In this video, Mr. C S has explained the things you must know before you sign as a guarantor for a loan.  

 

 
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