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  List of banking institutions in Malaysia
  Bank Negara Malaysia
  Credit Bureau

  Financial institutions may require guarantees from prospective borrowers to enhance the borrower’s credit standing and enable them to obtain financing.  
  If someone names you as a guarantor, you are legally bound to pay back the loan or balance there of if the borrower cannot or will not pay.  
Related Information

Rights of a guarantor under the hire purchase agreement
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  Joint Guarantee  
Under this guarantee, the obligations are passed to the surviving guarantors upon
death of one of the guarantors.
  Joint and Several Guarantee  
Under this guarantee, the estate of a deceased guarantor will remain liable under the guarantee together with the other guarantors.
To be a guarantor he or she must be:
18 years old and above
Not a bankrupt
Of sound mind and having the mental capacity to understand the responsibilities and obligations of a guarantor
Not forced, influenced or tricked into being a guarantor
Obtain a copy of the guarantee letter or contract and any other documents in relation to the loan transaction
Seek legal advice before signing the contract
Information on the outstanding balance of the borrower’s account subject to the borrower’s consent
Call upon the borrower to pay off the loan to release you from all your liabilities under the guarantee.
Be indemnified by the borrower for any payment made to the financial institution
Read and understand the nature of the guarantee. Most people willingly sign on as a guarantor without understanding the impacts on them.
Check and ensure the guarantee is subject to the laws of Malaysia.
Be wary about giving a copy of your identification to anyone other than the financial institution or your lawyers.
Do not sign a blank or partially filled document, or if you do not have a financial, business or moral interest in the transaction.
Do not become a guarantor to someone whom you have doubts about their ability or integrity.
Ensure that you are aware of your liabilities in the event that variations are made to the terms and conditions of the loan.
For more information on the rights and liabilities of a guarantor, kindly download our booklet on being guarantors or visit our FAQ section to assist you.