Glossary
Guarantor
What it means
Some lenders ask for a guarantor on education loans, loans to young borrowers or business loans to newer firms. The guarantor's credit report shows the guarantee, and a default affects their score and can lead to recovery action against them.
Guarantors do not share the loan benefit but carry the full risk. Understand the exposure before signing.
Where it applies
Education Loan
Education loans for studies in India and abroad, from ₹2 lakh to ₹1.5 crore, at rates from about 8.5% p.a., with moratorium during the course and tenures up to 15 years.
- Rate from
- 8.50% p.a.
- Up to
- ₹1.5 Cr
Business Loan
Unsecured business loans from ₹2 lakh to ₹1 crore for proprietors, partnerships and companies, at rates from about 14% p.a., with tenures up to 5 years and minimal collateral requirements.
- Rate from
- 14.00% p.a.
- Up to
- ₹1 Cr
More terms
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