The Ownership indicator tells the Loan provider who is responsible for payments on that credit facility. There are 4 types of indicators that can appear on your CIBIL credit report:
1. Single: You are solely responsible for making payments on the account.
2. Joint: You and someone else bear joint responsibility for payments on these accounts. It is important to check your credit report periodically, because late dues on a Joint account are likely to affect your loan application, even if you are not the one paying off the loan.
3. Authorized User: This is used for add-on credit cards. It implies that you have an access to credit, but are not responsible for paying dues on that particular account.
4. Guarantor: A guarantor pledges to repay a loan on behalf of a third party who has taken a loan. Hence, he provides a guarantee to the loan provider, that he will honour the obligation, in case the principal applicant is unable to do so.
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