Best Personal Loans Rates in Hong Kong 2019

Compare Personal Instalment Loans

Bank / Lending Companies	Loan Plans	Max. Loan Amount
Citibank	Speedy Cash	HK$2,000,000 or 12x monthly salary
DBS	DBS Debt Consolidation Loan	HK$2,000,000 or 21x monthly salary
Dah Sing	Dah Sing Express Money	HK$1,000,000 or 10x monthly salary
Bank of Communications	DreamCash Personal Loan	HK$1,200,000 or 12x monthly salary
Promise	Promise Easy Loan	HK$600,000
PrimeCredit	PrimeCredit Fixed Loan	HK$600,000 or 18x monthly salary
WeLend	Speedy Cash	HK$600,000
UA Finance	Real 0% Interest i-Money Internet Personal Loan	HK$100,000
AEON	AEON Flexi Loan	HK$800,000 or 8x monthly salary
Bank of China	BOC express cash instalment loan	HK$2,000,000 or 12x monthly salary
Hang Seng	Hang Seng Personal Instalment Loan	HK$2,500,000 or 15x monthly salary

How to choose the best personal loan?

Comparing loan plans are not only about interest rates but the total costs of your loan, such as the total amount, repayment period, and handling fee. Whether it is a personal instalment loan, debt consolidation loan or revolving loan, they are expenses to your finances.

Personal Loan Hong Kong Reviews 2019

Which Bank or Lending Company provides the best personal loan in Hong Kong?

Payback your credit card debt or improve your cash flow by applying for personal loans. Read our latest Personal Loan Reviews and find the best personal loan to suit your financial needs.

Tips for Getting Personal Loans

Tip #1

Annual Percentage Rate (APR) is the key to compare loans

APR reflects the actual expenses of your loans which includes interest rate, admin fees, handling fees etc. You may hear of Monthly Flat Rate which is only a calculation based on the repayment amount and not describing the actual repayment situation.

Tip #2

Personal loans serve different purposes

Loans help you to reduce money stress and get motivated to take control of your finances. For example, fixed instalment loans serve scaled expenses, balance transfer loans ease high-interest debts, revolving loans give extra flexibility of cash flow in a foreseeable future.

Tip #3

Loan amounts are varied

Unsecured loans have no collateral backing. Banks and lenders issue loan amount which is about 12 to 21 months of borrow’s salary, and is based on their creditworthiness and promise of repayment.

Frequently Asked Questions

Am I qualified for personal loan application?

If you’re above 18 and earning HK$5,000+/month, you’re welcomed to apply for loans. Simply bring your identity card, residential address proof, bank statement, and salary slip, and you’re good to go!

Where can I get a personal loan?

Banks and money lenders offer in-person or online loan applications.

How long can my personal loan repayment period be?

Normally, it’s 3 to 72 months. Banks and lenders will set you a fixed monthly repayment amount. The longer the repayment period, the lower the repayment amount, and the higher the interest rate.

Do personal loans have an extra handling fee?

Yes and no. Some banks will calculate your handling fee yearly. If you’re getting a revolving loan, the bank may charge you extra withdrawal fees.

What do I need to prepare for my personal loan application?

You’ll need these are the documents for your personal loan:

Photocopy of your HKID card (both sides);
Residential address proof (e.g. electricity bill, demand notes for rates);
Salary proof of the latest month (e.g. salary proof, bank statement).

If you’re self-employed, you may need to submit a full set of the latest Profits Tax Demand Note.

Why do we need personal loans?

Ease your cash flow concern

Banks and private money lenders offer loan plans with longer repayment, some of them even extend to 72 months. So now you are able to manage cash flow with higher flexibility.

Flexible application process

As long as you’re 18+ and earning HK$5,000+/month, you’re welcomed to apply for personal loans. Bring your identity card, residential address proof, bank statement, and salary slip and you’re good to go!