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Confused in the Home Loan jargon? Our glossary
will help you in understanding the basic loan related terms.
Browse through the glossary or serach for a term through the
menu to resolve any doubts.
Glossary of Home Loan terms
G
Guarantee
An agreement by which a person (guarantor) promises to meet
the obligations of another person (Borrower) on Default. Lenders
in some circumstances require a Guarantee of the Borrower's
obligations under a Loan Agreement.
Guarantor for the loan
Any individual who has good income/net worth can be a guarantor
for the loan. In case of non-resident Indians (NRI), the
guarantors are to be close relatives as defined under Section
6 of the Companies Act.
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