Why Guarantor for a loan?

POSTED BY Sunil Kumar ON August 1, 2011 2:18 pm COMMENTS (2)

Hi All

Why would bank ask for Gurantor on going for a loan, when one would have pledged the land or building documents in original?  Generally, the asset worth would be more than the loan amount.  Please share your thoughts.

Thanks
Sunil Kumar

2 replies on this article “Why Guarantor for a loan?”

  1. Sunil Kumar says:
    April 13, 2012 at 9:50 am

    Hi Sri,

    Shouldnt the bank be validating the authenticity of the site? How can they provide loan without validating?

    Thanks
    Sunil Kumar

    Reply
  2. srivatsan ganesh says:
    January 18, 2012 at 1:23 am

    Hi Sunil,

    Recently problems came like duplicate documents , house in several people names ., These are some of the problems which can lead to loss to the banks ., hence they are askin guarantor while pledging house and takin loan

    Regards,
    Sri

    Reply

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