Guarantor and
guarantee conditions
A guarantor is a key element in the loan approval process. In this section, you will learn what documents you need to provide, how financial criteria are assessed, and what requirements must be met to qualify.
Guarantor and
guarantee conditions
A guarantor is a key element in the loan approval process. In this section, you will learn what documents you need to provide, how financial criteria are assessed, and what requirements must be met to qualify.
Who can be a guarantor?
> requirements for a guarantor <
> definition
a) a guarantor can only be a citizen of the Slovak Republic who has a regular income and is legally competent.b) in the case of student loans, a new guarantor assumes the full guarantee obligation for all loans granted up to that point.
> age restriction
At the time of signing the loan agreement, the guarantor must be younger than 63 years old.> income criteria
a) the guarantor must have income from employment or a similar work relationship, or must have another verifiable regular source of income
b) for assessment purposes, certificates confirming receipt of sickness benefits or state social benefits are not accepted.
c) the guarantor’s income will be assessed cumulatively in the case of multiple income sources (e.g., from employment, business, or other gainful activities, as their total sum).
> financial stability
a) the guarantor must not be in a situation that could render them insolvent or jeopardize their financial stability
b) the guarantor must not be involved in any process that could lead to payment suspension, negotiations with creditors, debt relief, enforcement, or any similar proceedings
c) the guarantor must not be involved in any process that could lead to payment suspension, negotiations with creditors, debt relief, enforcement, or any similar proceedings.
d) if the guarantor finds themselves in any of the situations described in points a) to c), the borrower is obliged to inform FnPV about this fact and ensure the replacement of the guarantor
How to document income and liabilities when applying for a loan
1. DOCUMENTS PROVING INCOME:
- in the case of an employee
- the certificate must not be older than 30 days from the date of submission of the signed loan application
- in the case of a self-employed person or freelancer:
- the certificate must not be older than 30 days from the date of submission of the signed loan application
- original certificate of the guarantor’s income from business activity based on the tax return
- in the case of income from abroad
- if the guarantor has income from employment abroad and the income certificate is in a language other than Slovak or Czech, they must submit a translation along with a sworn statement confirming the accuracy of the translation
2. BANK STATEMENTS FOR THE LAST TWO MONTHS
3. SWORN STATEMENT ON THE AMOUNT OF LIABILITIES
- if the guarantor has a loan or other debt, they must specify the individual installment amounts
- in the case of caring for other persons (dependent and non-dependent children), the total number must be indicated
Assessment of the guarantor’s financial situation
> rules for calculating the ability to act as a guarantor for a loan <
1. BASIC CRITERIA FOR INCOME ASSESSMENT
The documents must clearly show that after deducting all liabilities and the subsistence minimum, the guarantor has sufficient disposable income, specifically:
- in the case of an employee:
- the remaining amount after deducting the subsistence minimum and all liabilities from the average net monthly income must exceed the amount specified in point 2.
- in the case of a self-employed person or freelancer:
- the remaining amount after deducting the total liabilities and subsistence minimum from 1/12 of the partial tax base according to § 6 of Act No. 595/2003 Coll., the Income Tax Act, must be higher than the amount specified in point 2.
2. MINIMUM REQUIRED DISPOSABLE INCOME ACCORDING TO THE AMOUNT OF THE INSTALLMENT
- for a monthly installment up to €100 (inclusive) = 1.5 times the amount of the installment
- for a monthly installment from €101 to €300 (inclusive) = 1.2 times the amount of the installment
- for a monthly installment over €300 = 1.0 times the amount of the installmentEXAMPLE CALCULATION FOR AN EMPLOYEE
Average documented net income: 900,00 €
Mortgage installment: 350,00 €
Other loans: 0 €
Dependent children: 1
Calculated installment of the requested loan: 120,00 €
AVAILABLE FUNDS:
900,00 - 350,00 - 273,99 (subsistence minimum for a person) - 125,11 (subsistence minimum for a dependent child) = 150,90 €
MINIMUM LOAN PAYMENT COVERAGE:
120,00 (calculated installment amount) x 1,2 (coefficient for installments from 101,00 to 300, 00 €) = 144,00 €
EVALUATION: CONDITION MET
183,13 € > 144,00 €
Average documented net income: 500,00 € (which corresponds to 1/12 of the partial tax base according to § 6 of Act No. 595/2003 Coll., which is 6,000.00 € / 12 = 500.00 €)
Mortgage installment: 0 €
Other loans: 0 €
Dependent children: 2
Calculated installment of the requested loan: 80,00 €
AVAILABLE FUNDS:
500,00 - 284,13 (subsistence minimum for an individual) - (2x 129,74) (subsistence minimum for 2 dependent children) = -43,61€
MINIMUM LOAN PAYMENT COVERAGE:
80,00 (amount of the calculated installment) x 1,5 (coefficient for installments up to €100.00)= 120,00 €
EVALUATION: CONDITION NOT MET-43,61 € < 120,00 €
https://www.employment.gov.sk/sk/rodina-socialna-pomoc/hmotna-nudza/zivotne-minimum/
Estimated subsistence
minimum from 1.7.2025 to 30.6.2026
- • €284.13 per month for a single adult individual
- €198.22 per month for each additional adult individual assessed together
- €129.74 per month for a dependent minor or an unprovided-for child
Documents for Download
Who can be a guarantor?
> requirements for a guarantor <
> definition
a) a guarantor can only be a citizen of the Slovak Republic who has a regular income and is legally competent.
b) in the case of student loans, a new guarantor assumes the full guarantee obligation for all loans granted up to that point.
> age restriction
At the time of signing the loan agreement, the guarantor must be younger than 63 years old.
> income criteria
a) the guarantor must have income from employment or a similar work relationship, or must have another verifiable regular source of income
b) for assessment purposes, certificates confirming receipt of sickness benefits or state social benefits are not accepted.
c) the guarantor’s income will be assessed cumulatively in the case of multiple income sources (e.g., from employment, business, or other gainful activities, as their total sum).
> financial stability
a) the guarantor must not be in a situation that could render them insolvent or jeopardize their financial stability
b) the guarantor must not be involved in any process that could lead to payment suspension, negotiations with creditors, debt relief, enforcement, or any similar proceedings
c) the guarantor must not be involved in any process that could lead to payment suspension, negotiations with creditors, debt relief, enforcement, or any similar proceedings.
d) if the guarantor finds themselves in any of the situations described in points a) to c), the borrower is obliged to inform FnPV about this fact and ensure the replacement of the guarantor
1. DOCUMENTS PROVING INCOME:
- in the case of an employee
- original certificate of the guarantor’s income from dependent employment or other regular income for the three months prior to the month of the loan application
- the certificate must not be older than 30 days from the date of submission of the signed loan application
- in the case of a self-employed person or freelancer:
- original certificate of the guarantor’s income from business activity based on the tax return
- in the case of income from abroad
- if the guarantor has income from employment abroad and the income certificate is in a language other than Slovak or Czech, they must submit a translation along with a sworn statement confirming the accuracy of the translation
2. BANK STATEMENTS FOR THE LAST TWO MONTHS
- a bank statement from online banking is sufficient
3. SWORN STATEMENT ON THE AMOUNT OF LIABILITIES
- if the guarantor has a loan or other debt, they must specify the individual installment amounts
- in the case of caring for other persons (dependent and non-dependent children), the total number must be indicated.
> How to document income and liabilities when applying for a loan
Assessment of the guarantor’s financial situation
> rules for calculating the ability to act as a guarantor for a loan <
1. BASIC CRITERIA FOR INCOME ASSESSMENT
The documents must clearly show that after deducting all liabilities and the subsistence minimum, the guarantor has sufficient disposable income, specifically:
- in the case of an employee:
- the remaining amount after deducting the subsistence minimum and all liabilities from the average net monthly income must exceed the amount specified in point 2.
- in the case of a self-employed person or freelancer:
- the remaining amount after deducting the total liabilities and subsistence minimum from 1/12 of the partial tax base according to § 6 of Act No. 595/2003 Coll., the Income Tax Act, must be higher than the amount specified in point 2.
2. MINIMUM REQUIRED DISPOSABLE INCOME ACCORDING TO THE AMOUNT OF THE INSTALLMENT
- for a monthly installment up to €100 (inclusive) = 1.5 times the amount of the installment
- for a monthly installment from €101 to €300 (inclusive) = 1.2 times the amount of the installment
- for a monthly installment over €300 = 1.0 times the amount of the installment
> EXAMPLE CALCULATION FOR AN EMPLOYEE
NOTE: The amounts of the subsistence minimum for a specific year are determined by the Measure of the Ministry of Labour, Social Affairs, and Family of the Slovak Republic. Link: https://www.employment.gov.sk/sk/rodina-socialna-pomoc/hmotna-nudza/zivotne-minimum/
Estimated subsistence minimum from 1.7.2025 to 30.6.2026
- €284.13 per month for a single adult individual
- €198.22 per month for each additional adult individual assessed together
- €129.74 per month for a dependent minor or an unprovided-for child
AVAILABLE FUNDS:
950,00 - 350,00 - 284,13- 129,74 = 186,13 €
MINIMUM LOAN PAYMENT COVERAGE:
120,00 x 1,2 (coefficient for a payment from €101.00 to €300.00) = 144,00 €
EVALUATION: CONDITION MET
186,13 € > 144,00 €
> EXAMPLE OF CALCULATION FOR SELF-EMPLOYED OR FREELANCE PROFESSION
> EXAMPLE OF CALCULATION FOR SELF-EMPLOYED OR FREELANCE PROFESSION
Average documented net income:
Mortgage installment:
Other loans:
Dependent children:
Minimum subsistence for an individual:
Minimum subsistence for a dependent child:
Calculated installment of the requested loan:
950,00 €
350,00 €
0,00 €
1
284,13 €
129,74 €
120,00 €
Average documented net income:
Mortgage installment:
Other loans:
Dependent children:
Minimum subsistence for an individual:
Minimum subsistence for a dependent child:
Calculated installment of the requested loan:
500,00 €
0,00 €
0,00 €
2
284,13 €
129,74 €
80,00 €
AVAILABLE FUNDS:
500,00 - 284,13 - (2x 129,74) = - 43,61 €
MINIMUM LOAN PAYMENT COVERAGE:
80,00 x 1,5 (coefficient for an installment up to €100,000) = 120,00 €
EVALUATION: CONDITION NOT MET
- 24,21 € < 120,00 €
