Repayment period up to 72 Months
- 7.33%
- APR*
- HK$102,880
- Total Amount Payable
- HK$2,880
- Total Interest Payable
All Details
The APR 6.77% is calculated based on loan amount HK$500,000, loan tenor of 12 months and monthly flat rate of 0.21%, including a Handling Fee of 1% per annum
An Annualised Percentage Rate (“APR”) is a reference rate which includes the basic interest rate and other fees and charges of a product of China CITIC Bank International Limited (the “Bank”) expressed as an annualized rate. The APRs shown are calculated using Net Present Value Method in accordance with the Code of Banking Practice, based on the relevant monthly flat rate for different loan terms and include the 1% handling fee (“Handling Fee”) per annum and the respective APRs are rounded to the nearest two decimal places.
| Principal Loan Amount | HK$100,000 |
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| Total Interest Payable | HK$2,880 |
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| Monthly Payment | HK$8,573 |
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| Total Amount Payable | HK$102,880 |
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| Handling Fee | HK$0 |
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| Annual Percentage Rate | 7.33% |
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| Monthly Interest Rate | 0.24% |
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| Loan Tenure | 12 Months |
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| Handling Fee | 1% (per annum of 1% on the loan amount. The handling fee shall be deducted from the loan principal amount upon draw down of the loan.) |
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| Late Payment Fee | Overdue interest rate will be imposed when the monthly installment amount is failed to be settled on or before the due date. Overdue interest is calculated according to the following formula: overdue installment amount x interest rate of 3% per month and in simple interest on monthly basis from the due date of such installment until the date of full payment. Minimum amount is HK$100 per month. |
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| Early Settlement Fee | 2% of approved loan amount |
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| Age Requirement | 18 years old or above |
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| Residency Status | Hong Kong Resident |
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| Employment Status | Employed in Hong Kong and monthly salary not less than HK$7,000 |
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