Guarantor My Loan is launching with a significant innovation in the Guarantor Loan market. Our product offers a Bonus Reward if payments are made on time and in full for the first 12 months. The Bonus Reward will be equivalent to one full instalment and will be made available after the 12th payment is made.
The aim of this product feature is to incentivise good payment behaviour rather than penalise late payment. This supports our key value of treating customers fairly throughout their lifetime with us. This is unique in the Guarantor Loan market and Guarantor My Loan is the first provider to offer something back to customers and guarantors for paying on time.