2. What does a loan guarantor mean?
• Anyone willing to repay another person's debt in the
case of default.
3. 02 03
04 05
What distinguishes a guarantor
from a co-borrower?
• The co-borrower is equally liable for EMI payments as
the primary borrower.
4. • Learn about the borrower's credit history and
gauge your repayment potential.
• Check how becoming a guarantor affects your
credit profile.
• If the primary borrower defaults on payments,
you may lose your assets.
• Withdrawing your name as a guarantor in the
middle of the loan term is hard.
What are the crucial considerations
before becoming a guarantor?
7. Unstable Job
• A guarantor is necessary in case of
frequent job changes or working in an
unstable company.
8. • Irregular income credit in the account
necessitates the addition of a guarantor.
Inconsistent income
9. • A guarantor is responsible for
the payment.
If the guarantor fails to make
payments, the lender will take
legal action.
What if the borrower
fails to pay?
10. “A guarantor is held
liable for debt
payment after the
borrower defaults.
Hence, before
becoming a
guarantor, consider
the borrower's
repayment capacity.
11. Thanks!
Would Love to hear from you.
Hero Housing Finance Pvt Ltd.
09, Community Centre Basant Lok, Vasant Vihar, New Delhi -
110057
Tel : 1800-212-8800
Email :customer.care@herohfl.com
Website : https://www.herohousingfinance.com/
Know More :
https://www.herohousingfinance.com/blog/knowledge-series-of-
experts/all_you_need_to_know_before_becoming_a_loan_gua
rantor
