Compare Debt Consolidation Loans in Hong Kong 2022

Looking for ways to get out of debts? Compare Debt Consolidation Loans now to clear your debts with a lower APR and loan rate. Read More
100,000 personal loan Paid over 12 Months
HK$
We found 14 Personal Loans for you!
Citibank 花旗銀行 logo

Monthly Payment

HK$8,473

Monthly Payment
MoneySmart Exclusive
Repayment term up to 72 months
APR*
3.13%
Total Amount Payable
HK$101,680
Total Interest Payable
HK$1,680
Monthly Payment
HK$8,473

【Limited Time Offer】New customer who successfully apply and drawdown Citi Speedy Cash Loan/Citi Card Debt Consolidation Loan can get MacBook Pro 13inch 256GB**/ Sonos Arc The Premium Smart Soundbar / Samsung Galaxy S22 5G 8GB-256GB / Dyson Purifier Hot+Cool™ Formaldehyde HP09 / iPad Air 256GB**/Sony LinkBuds/up to HK$10,000 Voucher!!! Successful application on Citi Credit Card through MoneySmart and accumulating eligible transactions of HK$300 or above can get HK$1,500 Apple Gift Card/Supermarket Voucher/Decathlon Voucher/Bose QuietComfort® True Wireless Bluetooth Earbuds (Retail value: HK$2,299)!

Valid until 31 May 2022 - See more details below
Apply Now
 安信信貸 logo

Monthly Payment

HK$8,433

Monthly Payment
MoneySmart Exclusive
Professional suggestions on best repayment plan
APR*
2.38%
Total Amount Payable
HK$101,200
Total Interest Payable
HK$1,200
Monthly Payment
HK$8,433
 Up to $10,000 Cash Bonus will be rewarded for successful application! 
 (Exclusive reward will be fulfilled by PrimeCredit) 
Valid until 30 Jun 2022 - See more details below
Apply Now
WeLend logo

Monthly Payment

HK$8,458

Monthly Payment
MoneySmart Exclusive
APR*
2.79%
Total Amount Payable
HK$101,500
Total Interest Payable
HK$1,500
Monthly Payment
HK$8,458

Consolidate debt in 1 second^ to save interest. Boost your credit score in just one step! Selected customers can receive up to HK$12,000 Cash Rebate upon successful draw down!

Valid until 02 Jun 2022 - See more details below
Apply Now
邦民日本財務 logo

Monthly Payment

HK$8,533

Monthly Payment
MoneySmart Exclusive
Approval on Sundays
APR*
4.49%
Total Amount Payable
HK$102,400
Total Interest Payable
HK$2,400
Monthly Payment
HK$8,533
Welcome Offer worth up to HK$13,000! New customers who withdraw their loans from 1 April 2022 to 30 June 2022, will receive a cash reward of up to HK$10,000 and HK$3,000 electrical appliance voucher ▲. Welcome Hong Kong non-permanent residents with 3 months and above working visa validity ※ 
Valid until 30 Jun 2022 - See more details below
Apply Now
中信銀行(國際) logo

Monthly Payment

HK$8,546

Monthly Payment
MoneySmart Exclusive
Repayment period up to 72 Months
APR*
7.19%
Total Amount Payable
HK$102,556
Total Interest Payable
HK$2,556
Monthly Payment
HK$8,546

Get up to HK$4,000 supermarket voucher by successful application of personal loan via MoneySmart!

Valid until 31 May 2022 - See more details below
Apply Now
天星銀行Airstar logo

Monthly Payment

HK$8,467

Monthly Payment
Bank Promo
APR*
2.99%
Total Amount Payable
HK$101,608
Total Interest Payable
HK$1,608
Monthly Payment
HK$8,467
Bank Promo:
 HK$400 loan coupon (usable at drawdown):
new customers successfully apply for the loan via MoneySmart, with drawdown of HK$50,000 or above and repayment tenor of 12 months or above within 30 calendar days. To be credited to customers' Airstar Bank HKD savings accounts in the form of cash rebate within 3 months upon loan drawdown.

The promotion period is from 20 April 2022 to 30 June 2022, both dates inclusive ("Promotion Period").  Up to HKD 13,800 cash rebate is applicable to applicants who apply Debt Consolidation Loan within the Promotion Period and drawdown the loan successfully by 31 July 2022 with drawdown amount not less than HKD 200,000 and tenor not less than 24 months(“Eligible Customer”). 

If Eligible Customer drawdown a Debt Consolidation Loan at any amount during the Promotion Period, the first due date of the loan will be extended to 2 calendar months since the loan drawdown date which the customer is not required to make repayment in the first 60 days after drawdown (“Repayment Free Offer”). 
Valid until 30 Jun 2022 - See more details below
Apply Now
DBS 星展銀行 logo

Monthly Payment

HK$8,353

Monthly Payment
MoneySmart Exclusive
Loan amount up to HK$2,000,000
APR*
4.27%
Total Amount Payable
HK$100,000
Total Interest Payable
HK$240
Monthly Payment
HK$8,353

Customer who successfully apply and drawdown DBS Debt Consolidation Loan can get up to HK$4,800 Supermarket Cash Voucher + Extra up to HK$4,300 Supermarket Cash Voucher/Apple Gift Card!!! Get up to total HK$9,100 reward

Valid until 31 May 2022 - See more details below
Apply Now
恒生銀行 logo

Monthly Payment

HK$8,617

Monthly Payment
APR*
6.44%
Total Amount Payable
HK$102,400
Total Interest Payable
HK$2,400
Monthly Payment
HK$8,617
Apply Now
BOC 中國銀行 logo

Monthly Payment

HK$8,957

Monthly Payment
APR*
16.61%
Total Amount Payable
HK$107,486.80
Total Interest Payable
HK$7,486.80
Monthly Payment
HK$8,957
Apply Now
大新銀行 logo

Monthly Payment

HK$8,536

Monthly Payment
Monthly flat rate as low as 0.11%
APR* (include cash rebate)
4.72%
Total Amount Payable
HK$101,320
Total Interest Payable
HK$1,334.52
Monthly Payment
HK$8,536
Apply Now
SCB 渣打銀行 logo

Monthly Payment

HK$8,754

Monthly Payment
Up to HK$13,000 cash rebate for online application
APR*
9.6%
Total Amount Payable
HK$105,052
Total Interest Payable
HK$5,052
Monthly Payment
HK$8,754
Apply Now
AEON信貸財務(亞洲) logo
Flexible repayment period to 60 months
Apply Now
中國建設銀行(亞洲) logo

Monthly Payment

HK$8,540

Monthly Payment
APR*
4.8%
Total Amount Payable
HK$102,484
Total Interest Payable
HK$2,484
Monthly Payment
HK$8,540
Read More
WeLab logo

Monthly Payment

HK$8,413

Monthly Payment
MoneySmart Exclusive
APR*
1.68%
Total Amount Payable
HK$100,960
Total Interest Payable
HK$960
Monthly Payment
HK$8,413

【MoneySmart Exclusive Offer 】- get up to HK$3,000 supermarket vouchers / Apple Watch Series 7
From now until 31 May 2022, customers enter referral code "NLSMRT" to successfully apply for loan and draw down the $500,000 loan could win you up to HK$6,499 rewards (Including $3,000 draw down cash rebate from WeLab Bank and HK$3,000 supermarket vouchers / Apple Watch Series 7 from MoneySmart); new Welab bank customers enter referral code "NLSMRT" to successfully open an account could get an extra $300 account opening spending rebate.

Valid until 31 May 2022 - See more details below
Apply Now

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Best Debt Consolidation Loans in HK

DEBT CONSOLIDATION LOAN PLANSAPRFeatures
Citibank Card Debt Consolidation Loans3.13%Repayment term up to 72 months
PrimeCredit Balance Transfer Loan2.38%Repayment terms up to 60 months
CNCBI $mart Plus Personal Installment Loan – Debt Consolidation7.19%HK$2,000,000 or 21 times of your monthly salary
WeLend Card Debt Consolidation Loan2.79%Interest savings plan save up to 90% interest-savings
DBS Debt Consolidation Loan4.27%Up to HK$4,500 reward for applying
Promise Debt Consolidation Loan4.49%Instant transfer once loan is approved
CCBA Balance Transfer Loan Program4.80%up to HKD1,200,000 or 21 times of your monthly salary

How to Pick the Best Debt Consolidation Loan?

What is a debt consolidation loan?

Debt consolidation (also known as balance transfer) is a way to transfer higher-interest debt to a lower-interest debt repayment by gathering all your outstanding, unsecured debt from credit cards and personal loans into one monthly payment. You will save on interest, enjoy a reduced repayment amount and a shortened repayment period. Banks or money lenders will pay your former creditors directly via bank transfers or promissory notes.

Why Do We Need Debt Consolidation Loans?

Avoid snowballing your debts

Try to pay attention to your lowest interest rate cards to consider transferring a higher-interest bill to that one by having APR at 12% instead of the one at 30%. Otherwise, get a debt consolidation to pay off all outstanding, unsecured debts then pay back the loan in fix-rate instalments over a set of terms. By clearing all debts on time, you can also improve your credit score.

Simpler and more flexible loan application

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

Tips for Getting Debt Consolidation Loans

Tip #1

Compare Annual Percentage Rate (APR)

The calculation of APR includes all the interests, admin fees and handling fees of a loan. That’s why APR is the best way to compare the actual expenses of personal loans.

Tip #2

Compare debt consolidation rebates

Debt consolidation loans typically come with lower interest rates than balance transfer credit cards. Also, different banks offer rebates that would lower your costs of monthly loan repayments.

Frequently Asked Questions

What exclusive offers can I enjoy if I apply for debt consolidation loans via MoneySmart?

You can enjoy various exclusive offers by applying for debt consolidation loans through MoneySmart: New customers who apply and draw drawdown Citi Card Debt Consolidation Loan through us can enjoy up to $12,000 cash vouchers; apply and drawdown SCB Debt Consolidation Program can enjoy up to $14,000 cash rebate! Check out more offers on MoneySmart NOW!

Am I qualified for debt consolidation loan applications?

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

How much can I borrow from a debt consolidation loan?

It depends on your salary and the loan cap of banks or money lenders. The loan amount can be 18x to 21x of your salary.

How long can my loan repayment period be?

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

How much interest expenses can a debt consolidation loan save for me?

Debt consolidation loans APR can be as low as 4% in Hong Kong, which is far lower than credit card 30% interest rate. Some loan plans can save up to 80% interest expenses for you, but it depends on your approved APR and credit score.

What do I need to prepare for my debt consolidation loan application?

You’ll need these are the documents for your debt consolidation 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.

Where can I get a debt consolidation loan?

You can apply to banks and money lenders in-person or online for debt consolidation loans.