In the event that I am standing as a surety for a loan, what should I look out for?

You should ensure that:

• You understand your responsibilities as a surety;
• You receive a copy of the Note of Contract at the time that the loan is granted to the borrower;
• The moneylender has explained the terms in the Note of Contact in a language that you understand; and
• The moneylender does not keep your NRIC card or any other personal ID documents (e.g. driver’s licence, passport).
• The moneylender does not acquire any information that contains passwords to your user accounts (e.g. Singpass account, Internet banking account, email account).