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Compare Debt Consolidation Loans in Hong Kong 2021

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
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We found 12 Personal Loans for you!
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Citibank 花旗銀行 logo

Monthly Payment

HK$8,473

MoneySmart Exclusive
Repayment term up to 72 months

Citibank Card Debt Consolidation Loans

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/Citi Card Debt Consolidation Loan can get exclusive reward iPhone 13 / Galaxy Tab S7+(Wi-Fi) / iPhone 13 mini / Switch Lite /up to HK$8,000 Voucher!!!

Valid until 31 Oct 2021 - See more details below
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安信信貸 logo

Monthly Payment

HK$8,433

MoneySmart Exclusive
Professional suggestions on best repayment plan

PrimeCredit Balance Transfer Loan

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 upon successful application！（Exclusive reward will be fulfilled by PrimeCredit）
Valid until 31 Oct 2021 - See more details below
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中信銀行(國際) logo

Monthly Payment

HK$8,570

MoneySmart Exclusive
Repayment period up to 72 Months

CNCBI $mart Plus Personal Installment Loan – Debt Consolidation

APR*
7.33%
Total Amount Payable
HK$102,844
Total Interest Payable
HK$2,844
Monthly Payment
HK$8,570

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

Valid until 31 Oct 2021 - See more details below
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WeLend logo

Monthly Payment

HK$8,458

Promotion

WeLend Card Debt Consolidation Loan

APR*
2.79%
Total Amount Payable
HK$101,500
Total Interest Payable
HK$1,500
Monthly Payment
HK$8,458
Promotion:
Consolidate debt in 1 second^ to save interest. Boost your credit score in just one step! Selected customer can receive up to $5,000 Cash rebate upon successful draw down!
Valid until 01 Nov 2021 - See more details below
Apply Now
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DBS 星展銀行 logo

Monthly Payment

HK$8,353

MoneySmart Exclusive
Loan amount up to HK$2,000,000

DBS Debt Consolidation Loan

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$3,300 Supermarket Cash Voucher + Extra up to HK$1,200 Supermarket Cash Voucher/Apple Gift Card!!! Get up to total HK$4,500 reward

Valid until 31 Oct 2021 - See more details below
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恒生銀行 logo

Monthly Payment

HK$8,617

Bank Promo

Hang Seng Debt Consolidation Instalment Loan

APR*
6.44%
Total Amount Payable
HK$102,400
Total Interest Payable
HK$2,400
Monthly Payment
HK$8,617
Bank Promo:
Successfully apply for Debt Consolidation Instalment Loan to enjoy up to HKD500 Cash Rebate for mobile or online application!
Valid until 24 Dec 2021 - See more details below
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邦民日本財務 logo

Monthly Payment

HK$8,533

Welcome Offer
Approval on Sundays

Promise Easy Loan

APR*
4.49%
Total Amount Payable
HK$102,400
Total Interest Payable
HK$2,400
Monthly Payment
HK$8,533
Welcome Offer:
Up to HK$8,000 cash reward + $2,000 Apple Store Gift Card to new customers ▲! Welcome Hong Kong non-permanent residents with 3 months and above working visa validity※
Valid until 30 Nov 2021 - See more details below
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BOC 中國銀行 logo

Monthly Payment

HK$9,088

BOC Express Cash Instalment Loan Balance Transfer

APR*
19.85%
Total Amount Payable
HK$109,054
Total Interest Payable
HK$9,054
Monthly Payment
HK$9,088
Apply Now
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大新銀行 logo

Monthly Payment

HK$9,032

Monthly flat rate as low as 0.11%

Dah Sing Credit Mastermind Instalment Loan

APR*
16.04%
Total Amount Payable
HK$107,200
Total Interest Payable
HK$7,279.20
Monthly Payment
HK$9,032
Apply Now
More Details
SCB 渣打銀行 logo

Monthly Payment

HK$8,754

Up to HK$13,000 cash rebate for online application

Standard Chartered Debt Consolidation Program

APR*
9.6%
Total Amount Payable
HK$105,052
Total Interest Payable
HK$5,052
Monthly Payment
HK$8,754
Apply Now
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AEON信貸財務(亞洲) logo
Flexible repayment period to 60 months

AEON Debt Consolidation Loan

Apply Now
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中國建設銀行(亞洲) logo

Monthly Payment

HK$8,540

CCBA Balance Transfer Loan Program

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

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Compare Debt Consolidation Loans

Debt Consolidation Loan plansBank / money lendersMax. loan amount
Card Debt Consolidation LoansCitibankHK$1,200,000 or 21x monthly salary
PrimeCreditBalance Transfer LoanHK$600,000 or 18x monthly salary
DBSDebt Consolidation LoanHK$2,000,000 or 21x monthly salary
Standard CharteredDebt Consolidation ProgramHK$2,000,000 or 18x monthly salary
Dah SingCredit Mastermind Instalment LoanHK$1,200,000
BOCExpress Cash Instalment Loan Balance TransferHK$2,000,000 or 21x monthly salary
Citi Citibank Card Debt Consolidation Loansup to 21X Monthly Salary or HK$1,200,000

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.