Hang Seng Debt Consolidation Instalment Loan

Updated September 2019
6.44%APR*
$204,800Total Amount Payable
$4,800Total Interest Payable
Monthly
Payment

HK$17,067
Promotion
Promotions
Successfully apply for and draw down the loan to enjoy up to HK$12,500 cash reward + Apply via Mobile or Online to enjoy extra up to HK$500 cash rebate
  • The promotion period commences on 25 June 2019 and expires on 24 September 2019, both dates inclusive (the “Promotion Period”). The offers are available to customers who successfully apply for and draw down Hang Seng Debt Consolidation Instalment Loan (“the Loan”) within the Promotion Period
  • During the Promotion Period, customers who have successfully applied for and drawn down the Loan with loan amount HK$200,000 or above and a minimum repayment period of 24 months will be entitled to up to HK$12,500 cash reward. The cash reward is calculated on the settlement of credit card and/or personal instalment loan outstanding amount (“outstanding amount”) owed to the third party (ies) and/or extra cash out amount. Customer can enjoy HK$100 cash reward for each HK$20,000 of the sum of 1) settling outstanding amount owed to the third party(ies) and/or 2) extra cash out amount (Cash reward will be rounded down to the nearest hundred dollar)
  • During the Promotion Period, customers who have successfully applied for Hang Seng Debt Consolidation Instalment Loan via hangseng.com/loan, Hang Seng Personal e-Banking or Hang Seng Mobile Application and drawn down the Loan with a designated draw down amount and a minimum repayment period of 12 months will be entitled to up to HK$500 Cash Rebate. If the drawdown amount is HK$80,000 – HK$299,999, customer will be entitled to HK$100 Cash Rebate; if the drawdown amount is HK$300,000 – HK$799,999, customer will be entitled to HK$200 Cash Rebate; if the drawdown amount is HK$800,000 or above, customer will be entitled to HK$500 Cash Rebate
Key features
Key Features
  • Loan amount of up to 21 times of your monthly salary
  • Enjoy extra cash up to 8 times of your monthly salary on hand
  • Repayment periods up to 72 months
  • Personalised interest rate to save more than 89% of interest expenses
  • Above information is for reference only. Please refer to Hang Seng Bank website for the loan details.
Covered
Repayment Summary

Principal Loan Amount

HK$200,000

Total Interest Payable

HK$4,800

Total Amount Payable

HK$204,800

Annual Percentage Rate

6.44%

Monthly Payment

HK$17,067

Repayment Period

12 months

Others
Terms and Conditions
Fee & Charges

Handling Fee

1%

Late Payment Fee

27% per annum from the date of such instalment default until the date of full repayment of default sum

Early Settlement Fee

(a) next month’s instalment amount (less the portion for repayment of the principal) plus (b) 2% of the outstanding principal, subject to a minimum of HK$300; plus repayment of any applicable promotional offers
Eligibility

Age Requirement

18 years old or above

Residency Status

Permanent Resident of Hong Kong

Employment Status

Full-time employed or self employed

The APR includes the basic interest rate, as well as any other fees and charges (i.e.: Handling Fee) so that it reflects the actual total cost of borrowing. The actual APR applicable may differ, please check with the provider to confirm your final APR based on your loan.

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HK$17,067
Monthly Payment