Best WeLend Personal Loans in Hong Kong 2021

WeLend is a licensed money lender in Hong Kong that launched in 2013. Unlike traditional banks and money lenders, WeLend is an online business that uses technology to make borrowing money faster and easier, with most of the personal loan process taking place online.

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Best WeLend Personal Loan

Handling Fee
Max Repayment Period
48 months

WeLend Personal Loan is the most flexible option out of the three offerings. You can choose your desired repayment period from 14 days up to 60 months. Yes, you read right - 14 days! That's way shorter than a bank loan, where loan tenures are usually at least one year.

Your actual maximum loan amount is personalized based on your profile - WeLend assesses your credit score, monthly income, occupation, and financial situation. In theory, WeLend is able to lend any amount from HK$3,000 to HK$600,000.

Likewise, interest rates are customized for each applicant. You can get your personalized quote instantly by filling in an online application form. WeLend’s website also features a calculator tool so you can estimate repayment amounts for different loan tenures.

The eligibility criteria for WeLend personal loans is quite stringent. You need to be a Hong Kong resident, at least 18 years old, and be employed at your current job for at least two months, earning at least HK$8,000 a month.

*Calculation based on loan amount of HK$600,000 and repayment period of 12 months; the actual APR may vary for individual customers.

Fast Approval WeLend Loan

Handling Fee
Max Repayment Period
60 months

If you need to borrow cash urgently but are unable to furnish your proof of income and address, you'll find it very difficult to obtain a loan from most financial institutions. But the WeLend No Document Loan allows you to apply for a loan without these supporting documents.

The only documents you need to submit are a copy of your Hong Kong ID and proof of your disbursement account (if you are a new customer of WeLend). After you complete the online application and submit your details in full, WeLend takes as little as one hour to verify and approve your loan and disburse the money into your account.

Note, though, that the maximum amount you can borrow is HK$50,000, which is still subject to approval and only for customers who fulfill certain credit requirements. If your loan limit is not high enough, you may try provide further supporting documents to get a larger loan.

*Calculation based on loan amount of HK$600,000 and repayment period of 12 months; the actual APR may vary for individual customers.

WeLend Debt Consolidation Loan

Handling Fee
Max Repayment Period
48 months

Like many banks and lending companies, one of WeLend's offerings is a Card Debt Consolidation Loan, a special type of personal loan where WeLend clears multiple credit card debts in one shot, freeing you up to repay WeLend according to your preferred schedule. Not only does this improve your cash flow, it also helps your credit score and saves on the high interest you would otherwise pay on your credit card bills.

When you submit your loan application online, WeLend uses what they call an A.I. Card Debt Master to assess your credit profile automatically and calculate three repayment plans tailored to your profile. Each of the three options is optimized to reduce the interest paid, reduce the monthly installment amounts, or reduce the time taken to repay the loan.

Those who meet WeLend's credit requirements may also opt for a "phased" debt consolidation plan, which clears upcoming debts as well as current outstanding ones.

Eligibility requirements for this loan are the same: You must be a Hong Kong resident, at least 18 years old, employed at your current job for at least two months, and earning at least HK$8,000 a month.

Note: The final loan amount approved by WeLend and the loan tenure is evaluated on a case by case basis. Please submit your details to WeLend for your personalized quote.

*Calculation based on loan amount of HK$600,000 and repayment period of 12 months; the actual APR may vary for individual customers.

How to Apply for WeLend Personal Loan?

Choose Your Loan Product

Find a suitable loan product that best fits your financial needs. Make sure you read the fine print and understand the loan structure. Once selected, fill in the application form and submit all the required documents. You can do this online in a matter of minutes.

Wait for Your Loan Approval Result

WeLend has a two-step approval system. First, you will get preliminary approval by SMS and email within one working day of your online application. Once you get that, you can proceed to submit your supporting documents. A WeLend Loan Specialist will then contact you for verification and to confirm the loan agreement.

Disbursement of Your Loan

For WeLend personal loans, if the verification and loan agreement process is done before 1.30pm, the funds will be transferred to your disbursement account on the same day. For debt consolidation loans, WeLend will also transfer the outstanding amounts to the financial institutions on the same day.

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WeLend Loan Application Supporting Documents

Here's a quick primer on how and what to submit to WeLend when applying for a personal loan from them.

What to submit

There are four supporting documents you have to submit to WeLend after obtaining your preliminary loan approval. (1) A copy of your HKID. (2) Proof of your disbursement account. (3) Residential proof, e.g. an official letter or bill stating both your name and address. (4) Payslips or other proof of income (1 month for fixed salary earners, 3 months for commission-based earners, and 6 months for real estate workers). If you are applying for the WeLend No Document Loan, you only need to submit (1) and (2).

How to submit

The best way to submit your documents is through the WeLend website. You will get an account after submitting an online application; log in to your account and you will be able to upload the documents from your computer or mobile phone. Otherwise, you can also send the documents to WeLend via email ([email protected]), WhatsApp (5633-5939), LINE ( or fax Fax:3590-3991

WeLend Loan Fees & Charges

One of WeLend's key selling points is that there are no hidden charges and fees. There is a handling fee for each loan, but this is incorporated into the APR when they calculate your loan interest rate. However, if you miss the deadline for a payment, WeLend will change a HK$350 "service fee" per late repayment. You will be notified by email, and there are no further penalties for late payment. It is also possible to settle your WeLend loan ahead of schedule without paying any early settlement fees. You just need to inform WeLend at least 30 days in advance by WhatsApp (5633-5939) or email ([email protected]).

Frequently Asked Questions

How much can I borrow from WeLend?

How much money you can borrow depends on your personal background, including your credit score, monthly income, occupation, and financial situation. WeLend provides loan amounts between HK$3,000 and HK$600,000.

How long does loan approval from WeLend take?

WeLend has a two-step approval process. First, you can get preliminary approval within one working day of submitting your loan application. Subsequently, you'll be required to submit all supporting documents to get final approval. How long this takes depends on the amount you want to borrow, your credit standing, and the documents you submit. Upon approval, the funds will be credited instantly to your bank account.

How do I monitor my WeLend application status?

A WeLend account will be created for you when you apply for a personal loan online. Simply sign in to WeLend's website with that account and you can easily check your application progress there.

What payment methods are accepted for repaying a WeLend loan?

You can repay your WeLend loan using several payment methods. The easiest way is to set up an auto-pay instruction by filling up WeLand's Direct Debit Authorisation Form. This allows them to deduct monthly instalments directly from your bank account, which is set at 2 to 5 days after your salary credit. Alternatively, you can make payment through online/phone bill payment service PPS, at Jetco ATMs, or even at 7-11 convenience stores.