Best Chiyu Banking Corporation Mortgage Plan in Hong Kong

Established 70 years ago in Hong Kong, Chiyu Bank is committed to providing professional banking and financial services to customers in Hong Kong, mainland and overseas. The Bank owns a network of 24 branches in Hong Kong as well as 5 branches and sub-branches located in Mainland China.

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Apply for Chiyu Banking Corporation Mortgage via MoneySmart Now and earnup to 0.23% Cash Rebate!

Mortgage Plans

Chiyu Banking mortgage plan enables customers to realise the dream of owning a home. The plan is characterized by a high loan amount, long repayment period, preferred interest rates, and free legal and mortgage advice and property valuation.

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Chiyu Banking Corporation New Buy Mortgage Rate Plans

New Buy PlanRateInterest Rate CapApplicable Property Types
Chiyu Bank 1 Month HIBORH+1.45%P(5.0%)-2.5%All property types apart from public housing and HOS Scheme
Chiyu Bank Prime RateP(5.0%)-2.5%5.0%Public Housing and HOS Scheme

Chiyu Banking Corporation Refinance Mortgage Rate Plans

Refinance PlanRateInterest Rate CapApplicable Property Types
Chiyu Bank 1 Month HIBORH+1.5%P(5.0%)-2.5%All property types apart from public housing and HOS Scheme
Chiyu Bank Prime RateP(5.0%)-2.5%5.0%Public Housing and HOS Scheme

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Chiyu Banking Corporation Mortgage Plan: Advantages

  • With Chiyu Banking "All-You-Want Mortgage Scheme", customers can adjust monthly repayments however they like, to suit one’s lifestyle and budget, and save on interest expenses with no handling charge and annual fee. The benefits of the plans are outlined below:

    • Flexible repayment with interest saving: enjoy the flexibility in adjusting your monthly repayment schedule according to your financial needs and preference. Interest under is calculated on the daily outstanding net balance of your mortgage loan so you can save on your interest expense.
    • Enjoy a cash rebate of 0.8-1%.
    • No penalty period: Chiyu Banking has no tie-in period but the mortgage comes with a minimum repayment amount.
    • Waivers on handling charges and annual fee.

Chiyu Banking Corporation Mortgage Plan: AdvantagesChiyu Banking Corporation Mortgage Plan: Advantages

Chiyu Banking Corporation Mortgage Plan: Disadvantages

  • When the business of a smaller bank is at risk, the possibility of revoking the loan is higher than that of a large bank. Back in 2008, during the financial crisis , small banks once tightened their mortgages and revoked loans directly. Moreover, the application usually takes longer as the bank is smaller in scale.

Chiyu Banking Corporation Mortgage Plan: DisadvantagesChiyu Banking Corporation Mortgage Plan: Disadvantages

Mortgage Term with Chiyu Banking Corporation

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Property age, types of property and credit scores all affect Chiyu Banking Corporation mortgage terms.

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Chiyu Banking Corporation will take property age into account when reviewing your mortgage applications.
Chiyu Banking Corporation will also consider the types of property you are applying for when approving your mortgage.
Your credit score also plays a part in your mortgage application. If you have a good credit score, you will be likely to get a preferential rate. If not, your mortgage term, loan amount and interest rate will be negatively affected.

Property Valuation with Chiyu Banking Corporation

Chiyu Banking Corporation does not have their own valuation department. They usually use the valuation service by a third party company like CBRE, Centaline Property Agency and Lei Shing Hong Limited, etc. to provide valuation services.

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Chiyu Banking Corporation Online Valuation Service

Online Valuation Service doesn’t cover all properties in Hong Kong and the valuation tends to be more reserved. MoneySmart suggests considering valuation from a number of banks or using MoneySmart Property Valuation Calculator.  


Property valuation is an important part of the entire mortgage application process. It does not only affect new purchase but also refinance mortgage. Numerous specific factors relating to the building will be looked at for example house prices of recent sales in the area, sales transactions, age, quality, unauthorised building works and building orders (if any). Village houses, old buildings and single private residential buildings usually have a low number of sales transactions, resulting in a low mortgage valuation.

For properties with a lower than expected valuation, MoneySmart suggests:

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    Requesting banker to get valuations from few more companies. However they may refuse your request. Alternatively, you can apply through MoneySmart. We work with all major mortgage lenders. We can help you to compare, choose and apply for the best mortgage with a higher valuation.

  • 2

    For refinance mortgage, you can directly commission a company for property valuation and submit the valuation report to the bank directly. This approach suits under valuated properties like village houses and old buildings. It may double the valuation price. However, not all banks accept reports like this. It is best to check in advance.

Can these properties get a Chiyu Banking Corporation mortgage?

Property TypeY/NRemarks
Off Plan PropertyYLess than 6 Million: 80% LTV

6 -10 Million : 60% LTV or 5 Million (whichever is less)

10 Million or above: 50% LTV

First hand PropertyYLess than 10 Million: 80-90% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Second hand Private HousingYLess than 10 Million: 80-90% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Village HousingYLess than 10 Million: 80-90% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Tong LauYLess than 10 Million: 80-90% LTV, depending on mortgage amount

10 Million or above: 50% LTV

Home Ownership Scheme HousingYPrime Rate Plans only.

Land Premium unpaid: loan amount up to 90% of property price (white form) or 95% (green form)

Land Premium paid: cases treated as 2nd hand private property

Maximum loan period: 25 years

Public HousingYPrime Rate Plans only.

Loan amount: Up to 100% of property price (non inclusive of deposit paid to Housing Authority)

Maximum loan period: 25 years

Paying for Chiyu Banking Corporation Mortgage

The “All-You-Want” Mortgage Scheme allows applicants to deposit their repayment directly into Chiyu Bank’s accounts as repayment, providing extra flexibility in adjusting repayment schedule.

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Can I apply for a mortgage only by rental income?

Yes. But not all rental income will be counted as monthly regular income. Please see below for details:


Percentage of rental income calculated as monthly regular income.

Lease with stamping: 70%

Lease without stamping: 60%

For example: If the monthly income of the applicant is HK$20,000 and his/ her monthly rental income (lease with stamping provided). His monthly income will be HK$20,000 + HK$10,000 X 70%, which is HK$27,000.

Should you pay off your mortgage early?

Early mortgage repayment


There are two types of early mortgage repayment. The first one is to pay off the debt completely and the property will become yours. The second one is to pay back the capital to save on some interests. No matter which one you choose, you may be subject to early mortgage repayment fees. In recent years, some banks have shortened the penalty period to half a year or a year. If a borrower decides to repay the debt within the penalty period, a higher early mortgage repayment fees/ interest rates will be incurred. If it is beyond the penalty period, the fees will be a lot less. In the first year of the penalty period, the penalty is 1%+cash rebate and in the second year, the penalty is all cash rebate. MoneySmart suggests negotiating the best penalty period terms before accepting the mortgage plan.

How to apply for your Chiyu Banking Corporation Home Loan

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Apply for Chiyu Banking Corporation Mortgage via MoneySmart

  • Step 1Compare Chiyu Banking Corporation mortgage plans

    Applicants can contact our professional mortgage team though our website WhatsApp +852 9665 5218

  • Step 2Compare Chiyu Banking Corporation mortgage plans

    MoneySmart will follow up on your inquiry and provide different mortgage plans

  • Step 3Apply online with required documents

    Fill in a consolidated application form with MoneySmart to apply for a mortgage with different banks. 👍🏻

  • Step 4Check the application form and sign it

    The bank that you have applied for will contact you directly 📞to collect the necessary documents. Applicants can get in touch with the mortgage department directly for future inquiries.

  • Step 5Draw down your mortgage

    We will remind ⏰ you upon successful application and provide you with suggestions and assistance you may need until you have successfully got the mortgage.

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Chiyu Banking Corporation Mortgage Plans FAQ

What documents are required when applying for Chiyu Banking Corporation mortgage?

To apply for Chiyu Banking Corporation mortgage, proof of identity, provisional agreement for sale and purchase (applicable to new purchase)/ recent 3-month repayment record, current mortgage repayment information, proof of residential address (applicable to refinance), recent 3-month salary record, bank statement and recent tax bill are required.

Does Chiyu Banking Corporation impose any restriction on the property with building order?

Chiyu Banking Corporation will not provide mortgages for properties with building order.

Can I apply for a mortgage without a fixed income? Can I apply with my asset instead?

If you do not have a fixed income, you can apply for Chiyu Banking Corporation’s mortgages with the most recent 6-month of bank statement as income proof. Applicants can also apply through Asset Based Lending such as properties or stocks.

Can I apply for a pre-approved mortgage?

Chiyu Banking Corporation does not accept mortgage application without a tax bill. Applicants can consider applying through Asset Based Lending (ABL) if he/ she has more assets.

Why Get a Chiyu Banking Corporation Mortgage through MoneySmart?

  • Best Mortgage Offers: Get SPECIAL interest rate offer from 2.5% and cash rebate up to 1.5%.
  • Speed Up the Mortgage Application: Get multiple banks’ offers in 9 working days by filling our Fast Form at the comfort of your home.