1. Borrow only what you really need and nothing more

Taking on a loan is a heavy responsibility. Borrow because you need to and have carefully considered your reasons for doing so.

2. Make sure you have the means to meet your monthly instalments

Carefully consider your other monthly payment obligations, both fixed (eg. housing, car) and variable (e.g. food, clothing, children's education). Make a list if you can. Make sure that when you add your other obligations to your monthly Personal Loan instalment, you are comfortably within your disposable income level.

3. Pay your monthly instalments promptly to avoid late payment interest and administrative charges

Keep track of the dates on which your monthly instalments fall due. Consider applying for GIRO so that you will not forget to make payment especially since the instalment amounts are fixed if you make prompt payment.

4. Payment Protector is entirely OPTIONAL and you are not obliged to subscribe for it

Payment Protector covers your outstanding loan amount in the event of accidental death, accidental total and permanent disability and terminal illness and is a useful safety net. However, it is NOT compulsory and you do not have to apply for it if you do not want to. Your decision whether or not to take up the cover afforded by Payment Protector has no bearing on your Personal Loan application.

5. Avoid multiple sources of credit, as it would be easier for you to manage and track what you have borrowed

Try to exercise better control over the sources of your credit. Having too many sources of credit may lead to confusion and cause you to accidentally overstretch yourself.

6. Ensure that you clearly understand the terms and conditions of your Personal Loan

Please read and understand all the terms & condition of your Personal Loan before you sign on the documents to confirm that they bind you.

7. Read the Schedule of Fees & Charges and check the completed details on your E-Application form carefully

The schedule of fees and charges sets out certain applicable fees and charges for your Personal Loan Before you sign on the completed application form, please ensure that the information you provided is accurate. Confirm that the loan amount, effective interest rate and the instalment amount are what you understand it should be.