2 A co-borrower is a co-owner, shares the loan proceeds, undertakes to pay the EMIs and gets the benefit of any tax deductions, if applicable.
3 The co-signer only needs to pay up in the event of a default. The co-signing arrangement is built on the trust that the borrower would make payments.
4 Both co-signer and co-borrower are responsible for the loan. If the borrower cannot afford to repay, the co-signer will be held liable.
5 A co-signer takes the risk of the loan without any benefit of ownership or right to the asset.
6 A default will reflect on the co-signer's CIBIL credit score. It is not possible to remove the co-signer's name from the loan when it is still due.
Top 10 Tax Saving Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in india for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Franklin India TaxShield
4. ICICI Prudential Long Term Equity Fund
5. IDFC Tax Advantage (ELSS) Fund
6. Birla Sun Life Tax Relief 96
7. DSP BlackRock Tax Saver Fund
8. Reliance Tax Saver (ELSS) Fund
9. Religare Tax Plan
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
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