Tips on Financial Management

Before you apply for loans, you should consider carefully about your need and repayment ability.
Late repayment could lead to serious consequences. Repay punctually and be socially responsible.
Plan well for improving debt situation, avoid the extra interests and fees incurred arising from default in loan repayment which further aggravate your debt problem.
Seek help immediately if you encounter financial difficulties in repayment.
Work out budgets periodically, understand clearly your income and expenditure situation.
Spend within budgets. Read More
- Spend within budgets, implement the expenditure, consumption, savings and investment portfolio which best suits your needs.
- Keep your credit record sound.
- Analyse your personal expenditure and loan repayment pattern from time to time, make good use of credit cards and avoid excessive borrowing.
- Discuss with your lenders frankly and positively when you encounter financial difficulties with a view to reaching a mutually acceptable repayment proposal.
- Please read the Prudent Financial Management – Key to Healthy Living and Learn to Manage Money Before It Manages You. You may also find useful information in the Investor Education Centre’s webpage for Smart tips on student loans and online calculators.

Responsibilities of Applicants & Indemnifiers

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