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Third Party Guarantee

  • Rajkumar P profile image
  • Rajkumar P Original poster
  • Preferred study destination: Australia
Can u please explain what does it mean by third party guarantee or personal guarantee when we take loan without keeping any security?

Replies (1)

  • Nanthini Jp profile image
  • Nanthini Jp Participant

When you talk about the third party guarantee, it means your uncle, your father’s friend or any of your relatives can make this third party guarantee. This is to ensure if the first guaranteed person couldn’t able to pay then 3rd party person have to bear the loan. The 3rd party income proof is also needed.

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