General information only; not financial or tax advice. Laws and lender policies change—verify specifics before acting.
Agree only with full awareness of risks and obligations.
In joint loans, each borrower is fully responsible for repayment—missed EMIs affect all credit reports. Guarantors don’t get funds but assume liability if the borrower defaults.
Understand legal and score implications before signing.
- Formalise contribution splits among co‑borrowers.
- Monitor the loan account even if you are only a guarantor.
- Exit or substitute roles per lender policy if relationships change.