Compare Debt Consolidation Loans in Hong Kong 2023

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 13 Personal Loans for you!
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 Time-limited Exclusive Offer - All applications are entitled extra $300 supermarket vouchers! 】Up to HK$19,188 rewards upon successful application and drawdown of WeLab Bank Debt Consolidation Loan via MoneySmart!

From now until 31 January 2023, customers enter referral code "NLSMRT" to successfully apply for loan and draw down the loan could win you up to HK$18,888 rewards (Including HK$13,888 draw down cash rebate from WeLab Bank and HK$5,000 Apple gift card/ HK$5,000 supermarket vouchers / HK$5,000 Klook vouchers!

From now on until 19 January 2023, all applications approved or not approved would offer extra $300 supermarket vouchers, total rewards is as high as HK$19,188!



*Upon your submission of the gift redemption form, you acknowledge and agree the information entered in this form may be shared to business partners for validation and that business partners may share their results back to us for fulfilment purposes in accordance with our “Privacy Policy

Valid until 31 Jan 2023 - See more details below
Promotion ends in
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WeLend logo

Monthly Payment

HK$8,513

Monthly Payment
MoneySmart Exclusive
The lowest APR
1.88%
Total Amount Payable
HK$102,160
Total Interest Payable
HK$2,160
Monthly Payment
HK$8,513
Consolidate debt in 1 second^ to save interest. Boost your credit score in just one step! Selected customers can receive up to HK$16,000 Cash Rebate upon successful draw down! 
Valid until 05 Feb 2023 - See more details below
Apply Now
DBS 星展銀行 logo

Monthly Payment

HK$8,453

Monthly Payment
MoneySmart Exclusive
Instalment period up to 84 months
APR*
6.61%
Total Amount Payable
HK$100,000
Total Interest Payable
HK$1,440
Monthly Payment
HK$8,453

New customers who successfully apply and drawdown DBS Debt Consolidation Loan via MoneySmart can get up to HK$13,800 rewards + Extra up to HK$7,200 Supermarket Cash Voucher/Apple Gift Card! Get up to a total HK$21,000 reward!

Valid until 31 Jan 2023 - See more details below
Promotion ends in
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BOC 中國銀行 logo

Monthly Payment

HK$9,041

Monthly Payment
MoneySmart Exclusive
Loan amount up to $2,000,000
APR*
16.61%
Total Amount Payable
HK$107,486.80
Total Interest Payable
HK$7,486.80
Monthly Payment
HK$9,041
【Limited Offer】Apply BOC Express Cash – Balance Transfer via MoneySmart website, with insert reference code “AS”, can enjoy extra HK$100 Cash Rebate. Terms and Conditions applied. Including the “e-Lai See” Cash Rebate Offer, you can enjoy up to HK$23,988 Cash Rebate in total!
Valid until 31 Mar 2023 - See more details below
Apply Now
 安信信貸 logo

Monthly Payment

HK$8,383

Monthly Payment
MoneySmart Exclusive
Professional suggestions on best repayment plan
APR*
1.18%
Total Amount Payable
HK$100,600
Total Interest Payable
HK$600
Monthly Payment
HK$8,383
 【MoneySmart Exclusive Offer】Up to HK$12,000 Cash Bonus will be rewarded for successful application! 
Valid until 28 Feb 2023 - 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*
6.77%
Total Amount Payable
HK$102,556
Total Interest Payable
HK$2,556
Monthly Payment
HK$8,546

【MoneySmart Exclusive Offer 】- Get total reward up to HK$4,000!
Customers successfully apply for loan via MoneySmart and draw down the designated loan amount could enjoy up to HK$4,000 Supermarket Voucher / HK$4,000 Apple Gift Card /  SAMSUNG Galaxy Tab S7 FE Tablet
(retail price: HK$3,998) !

Valid until 31 Jan 2023 - See more details below
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Citibank 花旗銀行 logo

Monthly Payment

HK$8,523

Monthly Payment
MoneySmart Exclusive
Repayment term up to 72 months
APR*
4.26%
Total Amount Payable
HK$102,280
Total Interest Payable
HK$2,280
Monthly Payment
HK$8,523

【As high as $7,699 rewardsNew customers who successfully apply and draw down the Citi Debt Consolidation Loan can get an iPhone 14 Plus, 128 GB /PHILIPS ADD6920BK RO Water Dispenser/Marshall Woburn II BT Wireless Speaker/ AirPods (3rd generation)/**up to HK$7,500 Supermarket Voucher/HK$7,500 Apple Gift Card !!!

Valid until 31 Jan 2023 - See more details below
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天星銀行Airstar Bank logo

Monthly Payment

HK$8,467

Monthly Payment
APR*
2.99%
Total Amount Payable
HK$101,608
Total Interest Payable
HK$1,608
Monthly Payment
HK$8,467
Apply Now
SCB 渣打銀行 logo

Monthly Payment

HK$8,754

Monthly Payment
MoneySmart Exclusive
Up to HK$8,000 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

【MoneySmart Exclusive Offer 】- Get total reward up to HK$14,499!
From 1 January 2023 until 31 January 2023, customers  successfully apply for loan via MoneySmart and draw down the designated loan amount could enjoy up to HK$6,000 Harbour City e-Cash voucher or Supermarket Voucher or iPad Pro (retail value: HK$6,499) ; Enjoy welcome offer up to HK$8,000 cash rebate, total rewards up to HK$14,499!

Valid until 31 Jan 2023 - 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
大新銀行 logo

Monthly Payment

HK$8,536

Monthly Payment
Monthly flat rate as low as 0.11%
APR* (include cash rebate)
4.61%
Total Amount Payable
HK$101,320
Total Interest Payable
HK$1,334.52
Monthly Payment
HK$8,536
Apply Now
AEON信貸財務(亞洲) logo
Bank Promo
Flexible repayment period to 60 months
Bank Promo:
 Successfully applied and drawdown of AEON Debt Consolidation Loan will be eligible to receive up to HK$12,000 cash rebate.
Valid until 28 Feb 2023 - See more details below
Apply Now
邦民日本財務 logo

Monthly Payment

HK$8,383

Monthly Payment
MoneySmart Exclusive
Approval on Sundays
APR*
1.12%
Total Amount Payable
HK$100,600
Total Interest Payable
HK$600
Monthly Payment
HK$8,383
Welcome Offer worth up to HK$10,000! New customers who withdraw their loans before 31 March 2023, will receive a cash reward of up to HK$10,000▲. Welcome Hong Kong non-permanent residents with 3 months and above working visa validity ※ 
Valid until 31 Mar 2023 - See more details below
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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.